Higher medical costs, a major milestone with my apartment, and continuous investments in my blog, that is a good summary of September. All of this and more gave me a good but still not amazing September Savings Rate.
9. My monthly Savings Rate report: June 2020
Last Updated on July 12, 2020 by Mr. FightToFIRE
After a live-changing May, June was a lot less crazy. That is not to say that nothing happened in June. I actually invested quite a bit in the site. These investments made my SR drop but thanks to my holiday pay, I was able to keep the damage to a minimum.
Starting with the income, in June I received my salary and holiday pay. The extra pay is nothing new for this time of year. What was new, however, was the increase in net salary thanks to my marriage in May.
Where my salary is around 2,500 EUR in a normal month, I now received 2833,05 EUR. That’s a 6.89% increase compared to last month which was already a bit higher due to a working-from-home bonus. The increase becomes even bigger when compared to April: 10.18%. A big asterisk though: this increase will last till my wife finds a job.
Add the holiday pay of 1,841.81 EUR to that, and I received 4,674.86 EUR in June.
Belgium might have the highest average income tax and salary wedge in the world, but that is only for singles. For a single income married couple (with kids), it’s still crazy high but not the highest! Yah for us. I guess.
Besides the salary, I also received some dividends. Do note that I don’t put them as income as I leave them in my trading account to reinvest them.
- COFINIMMO (COFB): 56.00 EUR
- NVIDIA (NVDA): 1.85 EUR
- SPDR US DIV ARISTOCRATS (SPYD): 18.35 EUR
For a total of 76.20 EUR.
The last category worth mentioning in detail is what I spend on my website. I aptly named this category “Online businesses” as I do consider this blog a serious business. I believe doing so creates focus and dares me to make the necessary investments; which I did.
I invested in three ways, one of which was a one-time thing (for now):
- Hire a professional copy-writer to clear up one of my blog posts. This has given mixed results but that is a separate issue from the work delivered. This cost me about 239 EUR. I think you can see why I kept it a one-time thing for now?
- Hire a professional financial writer to help with the more technical articles. This resulted in 2 improved blog posts and cost me 105 EUR.
- Finally, I hired an SEO-expert that will continue to help me improve the overall performance of my site and set out my search engine optimization for the future. Up till now, I invested 658 EUR in this business agreement.
The total expense until now is 1001.99 EUR*. 543.42 EUR was paid in June and is visible in this month’s overview. The rest will be in July’s expense overview. As you can see, I’ve been putting my grandmother’s inheritance to good use. Sharing this also serves as proof that I take this blog very seriously.
*Using 08/07/2020 exchange rate
All the expenses
As shown above, June had some extra expenses due to my website improvements and our “grocery spree” at Carrefour. The rest of the expenses were fairly basic (talking family insurance, some snacks, a cheap pair of indoor slippers, etc.). Everything combined brings my total expense for June to 2,202.90 EUR.
- Home management and ownership
- Food and supplies
- Online businesses
- Banking and insurance
Bringing it all together gives us 2471.96 EUR remaining cash or a Savings Rate of 52.88. A pretty good result given the specific expenses this month.