Monthly Finance Update #3 - Thriving Willow

July monthly update is ready and consists of a pretty crazy saving rate!

The savings rate was a whopping 86%.

This is due to no rent expense this month as Mrs Willow and I’s living situation is a little chaotic at the moment. From the 1. September there will be a steady living cost as we are moving back into Copenhagen, Denmark!

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 savings rate is now correct as there is a cash savings category which at this point in time is liquidity on standby waiting to either go towards investing or building the tiny house.

This is now more precise!

As you savy financial freedom seekers know having money waiting around is not optimal as ‘Time in the market, beats timing the market’, but having access to the money without risking a drop in the market may be needed at the present time.

Income after tax: 13696 kr 1830 €

Invested Amount: 2500 kr 335 €

Tiny House Savings: 2500 kr 335 €

Cash savings: 6848 kr 920 €

Savings rate: 86%

Total invested in Indexes: 32,029 kr 4280 €

The goal for 2019: Invest 30.000 kr / 4010 €

Progress: 20.000kr (2675 €) as of this month.

Which equals to 67% of the way

What has happened this month?

Index investments were purchased again this month automatically with the fixed amount of 2500 kr (335 € ).

July has been a great wind month, which means work for me! Some great hours to crank up the income a little.

Not optimal for some people with such a variable income but it works for me at the moment.

This month has also meant a weeks holiday in the family summer house which was highly enjoyable and relaxing.

Prioritizing family time while on the path to financial independence has sparked a few thoughts about how aggressively I myself would like to be on track in this financial journey. Blog post soon to come I think.

Tiny House Update

Savings for Tiny House increased again by 2500kr (335 €). The automated transfer makes this easy and with no effort required.

Quite interestingly this month we managed to get a few new contacts which may be able to reduce the price of the Tiny House quite significantly.

Exciting to follow this progress.

These contacts were both builders making a living building custom made tiny houses and a community offering assistance in a self build. More on this in next months focus below.

We have budgeted 500.000 kr ( 66800 € ) for the tiny house, a plot of land and transport. This may be way over the top, may not. But for this amount, we should definitely be in a good position.

Focus next month

August is the month of work, work, work.

This month is going to consist of two weeks of intensive work on the summer camps at a Danish folk high school in the south of the island of Fyn. Teaching beginners on the course ‘Kitesurfing Intensive’.

Not the best pay but working my way into more hours means showing commitment and interest.

That’s the plan anyway!

Otherwise racking up those hours in Copenhagen teaching kitesurfing and underwater spearfishing.

There will also be a very interesting meeting with a community wanting to help Tiny House builders get going on their TH project. This is their very first info meeting and the first time they are wanting to run this setup with multiple builds at one site sharing tools and knowledge from one expert builder.

We love the sound of it so far.

I’ll let you know how this goes next month.

Financial update over and out #3