Monthly Finance Update #30, 31, 32

All three updates in one: October, November, December Update, 2021.

Hi everyone!

It’s been a while again. Loads has happened since last time. Also major plans for 2022! (Which I, unfortunately, can’t share in details what are, here on the blog, as it has to be kept quiet until June, sorry! )

I got way behind doing the monthly reports as 75% of my income is coming from the business I’m running.

Therefore having a little harder tracking my income as I only know later what my expenses for the company are yearly and how much I’m going to pay in taxes. A system is on the way!

Also actually like doing a 3-month update as it gives a great overview.

Here you go :

October Income after tax: 9.300 dkk 1250 €

November Income after tax: 25.739 dkk 3450€

December Income after tax: 18.294 dkk 2461 €

October amount saved after expenses: 5.152 dkk 692 €

Novemberamount saved after expenses: 12.870 dkk 1721 €

Decemberamount saved after expenses: 9.147 dkk 1223 €

October Invested amount: 0 dkk 0 €

November Invested amount: 0 dkk 0 €

December Invested amount: 0 dkk 0 €

October savings rate: 55 %

November Savings rate: 76 %

December Savings rate: 44 %

October – Total invested in Indexes: 392.688 dkk 52.800 €

November – Total invested in Indexes: 340.792 dkk 45.830 €

December – Total invested in Indexes: 353.030 dkk 47.470 €

October – Portfolio change since previous month + 3,68 %

November – Portfolio change since previous month + 0,83 %

December – Portfolio change since previous month + 3,41 %

What has happened in the last 3 months?

A little tricky to sum up the last three months in a quick update here.

But here goes!

Investments:

3 months in the green! Won’t carry on forever but I’m definitely glad about a 9,43% return in this period.

The savings rate in the last 3 months has also been an average of 58,3% which is great.

As my income grows this will get even better, although expenses will increase too, but will work towards it.

Having a high savings rate is a simple habit that you can work on increasing in small steps, I find. Glad it has become like this and will really help grow my net worth over the next many years!

Hopefully will be able to keep this up in the future as this really boosts the time needed to allow for compound interest to work its magic!

And lastly, a small drop in the portfolio as I needed to sell off a few leftover indexes and needed the money for exciting plans for 2022.

Wish the portfolio could keep the same incline as it has had the last year. Wishful thinking I know but fingers crossed.

Company:

Have some really great clients that I work with now and it’s a very exciting being onboarded as a consultant and giving an overview of the company now and explaining what their optimal future focus areas should be.

Also, love the fact that you have a personal relationship with these business owners and can help them grow as people and of course their business.

My focus is to start to go for larger companies as they have a bigger chance of being able to grow and therefore pay me a percentage of this growth. It has a really big potential to create a large income for myself as I’m not spending my time for money but it’s the results that determine my income.

And that of course means that I have to deliver results !

Job :

My outdoor subject at the high school is now being increased to a main subject of the school which means I’ll have eight teaching hours a week plus part of a smaller outdoor subject.

The school has offered a full-time job multiple times but I turn the down EVERY time 😀 to be able to work on my business.

A great FIRE feeling – rejecting a job offer as doesn’t fit in with my FIRE plans. Not being dependant on saying yes to that job offer was lovely.

A great feeling to be able to do this when you know you’ve prioritized your business and working towards FIRE.

Tiny House progress

We’ve now installed the fireplace in the tiny house which has majorly increased the temperature regulation in the tiny house. In the morning wake up to about 16° and with one firing of the fireplace easily up to 20 to 23° degrees.

The fireplace gives a much dryer heat compared to an electric radiator. A major difference!

So much more enjoyable this winter and glad we managed to work out how to install this fireplace.

Also had an exciting opportunity for us and the tiny house in 2022, that dropped in the email inbox a few days ago. We’re going to be featured somewhere very interesting and we’re glad to be invited on the show.

I will let you know when it comes out!