May and June are historically high savings months as those are the months my company pays our profit bonus and holiday money. May saw me reaching a 64,35% savings rate. Could I improve this already high rate in June? Below are the numbers:
Income: 3 660,60 euro
Expenses: 1 372,70 euro
Savings: 2 287,90 euro or 62,50%
Nope, I didn’t quit reach it. But I’ll take a 62,5% savings rate any month of the year.
Total expenses for the first half of the year are 8 705,20 euro or an average of 1 450,90 euro a month. Very nice within my self imposed budget of 1 500 euro a month. And this even includes the purchase of a 800 euro rowing machine. without the rowing machine I actually have spend closer to 1 320 euro a month!
Income was my standard pay + my holiday money for a total of 3 660,60 euro.
Once more I transferred 1 100 euro to our joint account for my part of the mortgage, utilisties, groceries, …
Since international travel is still restricted we decided to visit Brughes so we could enjoy this beautiful city without the hordes of tourists. Restaurants and pubs were allready open so we got the full Brughes experience. Travel, food and drinks did set me back 110 euros. But we did have a fun day playing tourist in our own country.
Mobile phone cost dropped back to my fixed 12 euro subscription amount. I found a very easy and cheap (as in 0 euro) solutions for not having the Wifi reach into our utility room. I just leave my phone in the part of the house where there is still a Wifi signal and then connect it to our wireless bluetooth speaker. And that does reach into the utility room.
The mobile app I use for keeping track of my weights work outs has an anual fee which needed to be renewed this month. It costs 34 euro. I could do without it by this point but I do like the tracking it provides. It’s this app that supplies the overview graphs I show in the fitness part of my health report.
After motherday last month, this month had fathers day so I spend 42,20 euro on a gift for him.
I also needed to refill my Vespa so that cost me 9 euro. Belgium is lifting the working from home obligation. July and August will see me going to the office about once a week so this cost will start to appear more often now.
I also spend 39,5 euro on ice cream (when working from home, damn that icecream truck passing right by my window!) and sandwiches (when working from home). Not good for my spending but, even worse, not good for my weight!
1. change the title of the article as is report for June, not July 🙂
2. at a 62% saving rate you can retire in less than 8 years. keep the speed ! Great numbers!
2. nope, I ma already over budget for July
when I estimate my saving rate for the future, I calculate I keep that speed for 10 months from 12, to let me 2 months (holidays /special events) when I am doing differently. The road to financial independence is not about speed against numbers but to enjoy the road.