Monthly Finance Update #1

It is time for the first ever monthly finance report which will be posted at the start of every month. Exciting!

Showing these financial numbers and progress with full transparency has the goal to give you guidance and reference to compare and maybe learn from.  

This also has the added bonus of keeping myself accountable and follow the path to financial freedom. 

Income as of now varies quite a bit as my paycheck isn’t always processed ready for the 1. of the month, so these amounts will be included in the month they hit my bank account. 
 

Income after tax:                   12.327 kr                 1855 $

Invested Amount:                  2500 kr                    376 $

Tiny House Savings:              2500 kr                    376 $

Cash savings:                           3449 kr         

Savings rate:                                                 68,5%

Total invested in Indexes:                        26.637 kr                4008 $

The goal for 2019 – Invest 30.000 kr / 4515 $ 

Progress:             12.500 (1882 $) as of this month.

                                Which equals to 41,6% of the way 

What has happened this month?

Index investments were purchased again this month automatically with the fixed amount of 2500 kr (376 $). 

This could be higher but a sizable amount of savings is going towards the tiny house savings account, so we will have enough to purchase it without a loan. 

Putting this amount in the market and wanting to take it out a year after would only be very very risky and the possible gains we could get in 1 year do not outweigh the consequences of a potential (nobody knows) market crash after our now 11-year bull market. 

The job has increased from 11 to 26 hours a week, which will increase my income significantly instead of unemployment benefits. 

Lovely!

Tiny House Update?

Savings for Tiny House increased by 2500kr (376 $) meaning I now have 55% of my share of our future tiny house. Exciting!

We have budgeted 500.000 kr ( 75.250$ ) for the tiny house, a plot of land and transport.

This may be over the top, may not. But for this amount, we should definitely be in a good position.

Focus next month

The month of June is an interesting month!

The one thing holding us back from starting a Tiny house build at the moment is working out where we would like to live in Denmark.

Watching the tiny house savings account increase steadily is enjoyable but not quite enough. I bet you agree.  

So my wife an I are spending a weekend on the Danish island of Fyn assessing whether this is an area we would enjoy to live in.

At the present, I have a part-time job on Fyn which may turn into a full-time job (hopefully!).

Exploring and working my way to a full-time job is the main focus as of now. 

Thrilling indeed!

First financial update over and out #1