Monthly Finance Update #2

June’s monthly update is ready and a great month it has been!

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

Keeping myself accountable is an added bonus and on helps me 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. 

The same applies to the savings rate. More of the income is set aside as cash savings as at this point in time as I’m not sure whether to categorize it towards investing or building a tiny house. 

This will be more precise in future updates.

Income after tax:                           18085 kr              2730 $

Invested Amount:                          2500 kr                376 $

Tiny House Savings:                      2500 kr                376 $

Cash savings:                                   6493 kr                975 $          

Savings rate:                                                 63,5%

Total invested in Indexes:                     29.137 kr          4400 $

The goal for 2019 – Invest 30.000 kr / 4515 $

Progress:             17500 (2650 $) as of this month.

                               Which equals to 58% of the way 

What has happened this month?

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

Automating your investments is the way to go. So easy.

The spring season temporary job has finished as of now and I’m back in Copenhagen where the hours vary quite a bit. But work is good as the wind is pretty consistent luckily.

Our exploration weekend of the island of Fyn as a possible place we would like to live in the future was a grand success. We visited various communities and tiny house builders, which really inspired us, even more, to continue on this path.
Also a delightful experience to learn from other tiny house enthusiasts and feel their willingness to help. 

The decision of going for it and moving to Fyn would become very relevant when one of us has a full-time job locked in and the other would hereafter search for a job in the neighbourhood.

Hopefully soon. 

Tiny House Update

Savings for Tiny House increased again by 2500kr (376 $). The automated transfer makes this hassle-free. 

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. 

A lovely treat was also to find a fellow tiny house finance blog called Two Cup House. I’ve spent countless hours on Garretts and Claudia’s blog reading posts and have thoroughly enjoyed it. 

Go check them out.

Focus next month

July is a bit of a crazy month.

Job is now in a new location with very variable work hours. I only know the evening before if I’m working. And my wife is away the first 2 weeks so I will be trying to lock in a lot of work hours if possible and crank up the income.

Brainstorming possible ideas for a job this winter when the season ends would be great to get started on and making a plan of some sort.

This is both the charm and the negative part of having an outdoor seasonal based job but hey I will figure something out.

I will be prioritizing 5 days in a summerhouse and enjoying the hopefully good weather mid-July.

Fingers crossed. 

Financial update over and out #2