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My monthly Savings Rate report: December 2020

Last Updated on January 21, 2021 by Mr. FightToFIRE

December, the month of Christmas and New Years’. Lots of celebrations meaning some bigger expenses. This wasn’t any different this year even with corona. We just did it on our own and just handed over the gifts outside. We went a little wild with food but my income was higher so it balanced things out a little bit.

My income received a boost again thanks to the on-call I did at the end of November/the beginning of December. It was welcomed because of the increased holiday expenses. Additionally, I received my tax refund which helped my Savings Rate stay somewhat decent.

This page can contain affiliate partner links to products that I purchased this month.


For December I welcomed two extras on the income side. On top of my salary was the on-call bonus. I received 2,835.05 EUR. Finally, I received my tax return for the fiscal year 2019 resulting in an extra “income” of 366.38 EUR. Together I got 3201.43 EUR.

The situation for my wife hasn’t changed yet. No job so no income. At the moment, everything is covered by one salary.


I received my final dividends of 2020 this month:

  • 4/12/2020 HOME INVEST BELGIUM – 34.00 EUR 
  • 29/12/2020 NVIDIA CORP – ~1.96 EUR

Combining everything gives me 328,19 EUR for 2020, meaning I missed my milestone of 400 EUR by 71.81 EUR.


Home management and ownership

My largest expense is without a doubt the monthly rent (645 EUR) plus the interest I have to pay on the already borrowed amount (110.81 EUR). For our Christmas and New Years’ dinner, I bought an injection needle and Sodastream bubbles (36.94 EUR). Aside from that, I got some cleaning products from Action and Colruyt (5.6 EUR). These extra expenses together with the typical ones brings the total to 798.35 EUR for December.

Savings Rate December 2020
My Income and Expenses for December 2020.

Food and supplies

Next up are the groceries done in December. We ended up spending a lot more on groceries than expected. 569.94 EUR for 2 is quite a lot, but I have a good excuse! Since these holidays were going to be different from normal, we wanted to treat ourselves a bit, so we got a bit fancier at Carrefour.

“Eating out” was limited to some extra fries (3.68 EUR). The snacks (7.75 EUR) were at the local Delhaize after we did some cleaning at my grandma’s place. The result is 574.01 EUR on food and supplies.


Medical bills (110.96 EUR) for the pregnancy and underwear for me (164.47 EUR) were the expenses in this category. We spend 275.43 EUR in total.

Other expenses

The rest of my expenses were relatively minimal.
A quick summary:

  • Online business – 120.64 EUR:
    • Paying the co-writer of two of my articles.
  • Luxury – 83.47 EUR:
    • Christmas and New Years’ presents for my parents (72.45 EUR).
    • Subscriptions on Spotify and Patreon (11.02 EUR)
  • City and government – 71 EUR:
    • A stupid speeding ticket.
  • Banking and insurance – 25.83 EUR:
    • The basic fair of home and fire, and medical insurance with a dash of cashback.
      • 15.72 EUR Home and fire insurance
      • 10.46 EUR for company health insurance
      • 0.35 EUR cashback from Keytrade.

All the expenses

  • Home management and ownership
  • Food and supplies
  • Person
  • Online businesses
  • Luxury
  • City & government
  • Banking & insurance

The bottom line

Summing it all up for a total expense of 1,948.73 EUR. I’m left with 1,252.70 EUR which gives me a Savings Rate of 1,252.70 EUR/3,201.43 EUR = 39.13%!

This was my December overview. My Belgian friend Euromoney -or should I say Roadtrip to FIRE?- shared his name change, the five steps you must take to get started on your FIRE journey, and last but not least, his income and expenses for October.

JoneyTalks Had 4 amazing Podcasts in November. From How to go from a Scarcity to an Abundance Money Mindset with Anissa to Is It Too Late to Turn Your Financial Life Around in Your 40s? with Ben. Be sure to check out his podcasts!

Please share your thoughts in the comments below!

I'm a developer for a major financial institution in Belgium that is present in over 40 countries. I have over 8 years of working experience in the development of customer applications focussing on all aspects of banking. This helped me gain a deep understanding of the inner workings of a commercial bank. All of this experience in both banking and life culminates in this blog about personal finance and my fight towards FIRE.

Monthly Savings Rate Reports
1. My monthly Savings Rate report: October 2019
2. My monthly Savings Rate report: November 2019
3. My monthly Savings Rate report: December 2019
4. My monthly Savings Rate report: January 2020
5. My monthly Savings Rate report: February 2020
6. My monthly Savings Rate report: March 2020
7. My monthly Savings Rate report: April 2020
8. My monthly Savings Rate report: May 2020
9. My monthly Savings Rate report: June 2020
10. My monthly Savings Rate report: July 2020
11. My monthly Savings Rate report: August 2020
12. My monthly Savings Rate report: September 2020
13. My monthly Savings Rate report: October 2020
14. My monthly Savings Rate report: November 2020
15. My monthly Savings Rate report: December 2020
16. My monthly Savings Rate report: January 2021
17. My monthly Savings Rate report: February 2021
18. My monthly Savings Rate report: March 2021
19. My monthly Savings Rate report: April 2021
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Nice saving rate, I’m baffled how you never buy any stuff. No clothes or nothing, how do you do that? 😀
So unfortunate about the fine 🙁
Btw does your blog make you that much money that you pay someone to co-write articles?

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