Monthly Finance Update # 29
September Update, 2021.
September’s update. Here we go!
Income after tax: 7260 dkk 975 €
Invested amount: 0 dkk 0 €
Savings rate: 41 %
Total invested in Indexes: 370.657 dkk 49818 €
Portfolio change since previous month -2,71 %
What has happened in September?
Investments:
Finally, we’ve had the first drop in the market for quite a few months which was quite expected. This resulted in a drop of 12,000 kr this month, which is to be expected after about a +20% return previously this year. No worries. It goes up, it goes down. It may be a bumpy ride for the next 10 years 😀 .
As you also can see from this month I’m not investing as I usually do in the index because we may have some very exciting plans on the horizon. This idea has come quite quickly as we’ve had to rethink our living situation at the moment.
Living in a tiny house is absolutely great with very low living costs but also has the downside of having to live in temporary locations one after the other. This is due to the Danish regulations about tiny houses which gives almost no legal way of placing a tiny house on a piece of land.
The dream scenario would be to buy a plot of empty land and place the tiny house on it and build a place where people would come to learn about living self sufficiently and how to create a permaculture garden. Placing your house on a plot of land just isn’t possible in Denmark and won’t be for the next 10 years, 100% sure.
So what do you do when you’d still like to live in a tiny house still?
We’ve thought of a solution = house hacking! What is house hacking?
Investing in a house, renting the whole house out to guests and living in the tiny house next to it. Does this seem like a crazy idea? It sure does for us. Buying a house and then not living in it afterwards, haha 😀
But as the regulations are so tricky at the moment we see this as the only option to being able to live in a tiny house and being able to work towards our long term goal of creating a dream plot of land and work on creating a location where you can learn about sustainable living and creating selfsufficiant Permaculture garden.
What does this mean? It means taking a fricking loan!
And this is the part we’re trying to get used to the thought of.
The house we have our eye on costs 2.000.000. A beauty.
We have 500.000 ourselves, can borrow 500.000 from family so around 1 million ourselves but would have to borrow 1 million from the bank.
We’ll see guys. Interest rates are thankfully quite low at the moment and we have to make a decision within the next few weeks.
Bloody big decision!
Company:
I have quite a lot of focus on the company at the moment trying to get new companies on board. It’s a great feeling being able to help companies grow but also challenging to go from little to no experience in this field and learning a lot from day one up until now.
One percent better every day, right?!
Luckily I find it quite interesting to work with my clients and working out what they would like to progress towards.
Income from my company isn’t in these updates yet as I can’t quite work out how to incorporate them so my income is actually a bit higher than the numbers above. I’ll find a solution for this soon! Savings rate is still correct as the money has been put aside, but not quite invested yet.
There’s also a little more pressure on now as the banks really like to see income statements before giving permission to receive a loan of say 1 million.
Better crank up the work hours!
May be very soon I need to show proof of income.
Job :
My teachers job still going well. Great to be able to take your students out to see the world champions in Kitesurfing on the West Coast of Denmark. Quite an experience with 20 m/s. My outdoor students were quite impressed!
We are heading into the colder months now and my teaching is now focusing on climbing technique, sleeping outdoors in colder weather, making gourmet food on fire, Masterchef edition (!).
Oh and last week they were in for a treat!
My students thought they were going out in the forest to meditate as I presented to them. On the way, eight of my colleagues jumped out, we blindfolded them all and drove them 7 km away, where they had to work out where they were (mobiles were confiscated earlier) and find their way back to the school without being spotted by the school bus, which was me patroling. A lot of fun and the students loved it!
Sometimes I really do think: I am getting paid to do this? Love it.
Tiny House progress
We had our first presentation at a different school on a tiny house which actually paid 5000 Danish kroner. A great experience and the listeners were quite interested and ask questions afterwards.
After doing this presentation we had she had a second request a presentation where she asked for price and possible subjects when giving a presentation so we may be up for a second one in the near future. Not quite booked yet though.
These presentations also give opportunities to see other schools and areas of the country so if we can fit it in with other plans we’ll definitely will be doing more!
Hey guys, thanks for reading until the end.
I use this blog and monthly updates to follow my financial progression as I love to follow others too.
This update has had a few more thoughts on my plans as we’re in a crazy position at the moment where we have to make a big decision.
If you’ve read this far = Wack a comment down below.
Would like to hear whether you think we should go for the big investment of a house!
There are pros and cons 😀
- Updates on the tiny house build from start to finish will be shared on the Facebook page.
Danish readers can join the group ‘Det Lille Potentiale, Tiny House’.
I hope your savings rate was steady and high this month!
Financial update #29 over and out
