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My monthly Savings Rate report: November 2020

Last Updated on December 1, 2020 by Mr. FightToFIRE

Another calm month. Both in terms of expenses and income. It will make for a rather concise monthly overview.
I am currently on-call again but because week 3 of my on-call is the first week of December, I will only get paid at the off the month so expect to see a bigger salary by the end of the year. For now, it’s my base salary.

Just like last month, all of our two-person expenses are covered by one salary. Luckily it’s a decent one, meaning I could still save a bit after paying rent and other monthly returning expenses like groceries.

Income

Like two months ago, a good old salary without an on-call bonus (that’s for next month). I received 2,654.85 EUR in income this month.

Dividends

I received no dividend this month.

Expenses

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). As I didn’t buy anything extra for the apartment, these 2 expenses were the only ones in this category bringing the total to 755.81 EUR for November.

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

Food and supplies

Next up are the groceries for the past month. We did end up spending more on groceries than expected. 452.47 EUR for 2 is quite a lot, so I will try to reduce this in December. I’m curious if we’ll be able to bring it down.
“Eating out” happened twice this month through Deliveroo. Once fries from the local ‘fritkot’ and once from Burger King totaling 32.21 EUR on food and supplies. Finally, I bought one cake to gift to my parents (16.50 EUR). The result is 501.18 EUR on food and supplies.

Person

Medical bills were the only expenses in this category. We spend 191.16 EUR on checks for a new family member and flu shots.

Luxury

My final big expense category this month was Luxury. I bought a blood pressure machine (Omron M4 Intelli IT) to do at-home-measurements because they were relatively high for my wife when we were in the hospital.

 

I recommend it if you are getting older or, in my case, need to perform frequent blood pressure measurements for monitoring. Using Bluetooth, you can connect to the Omron app to receive a visualization of your measurements over time and instant-access during a doctor’s visit.

Another purchase in the luxury department was something to help kill time. I bought an extension pack of a game I already had: Cities Skylines (19.95 EUR).

Even though I know the lottery is not really a solid plan towards FIRE, I do sometimes play just for the heck of it. You never know. 50 EUR went into win-for-life tickets. Didn’t win for life 🙁

Last but not least, I paid my Spotify and Patreon subscription (11.05 EUR). Adding it all up gives me 162.66 EUR.

Other expenses

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

  • Banking and insurance – 24.74 EUR:
    • The basic fair of home and fire, and medical insurance with a dash of cashback.
      • 15.72 EUR Home and fire insurance
      • 10.36 EUR for company health insurance
      • 1.34 EUR cashback from my VISA credit card and 20 cents from Keytrade.
  • Kids – 9.95 EUR:
    • Yep, you read that right. Well, if you follow me on twitter you’d have seen it already. We are expecting (but more on that another time)! For the little one we already purchased some anti-slip socks to promulgate the joyous news.
  • Online business – 6.01 EUR:
    • A small amount to try and get my Pinterest off the ground. I only get a few clicks more.

All the expenses

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

The bottom line

Summing it all up for a total expense of 1,651.51 EUR. I’m left with 1,003.34 EUR which gives me a Savings Rate of 1,651.51 EUR/2,654.85 EUR = 37.79%!

This was my November 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
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Marc Moore

Well done! I still don’t get how you manage to spend so little 🙂 I can almost always think of something I need/want, and sometimes I can change my mind, but sometimes I go ahead and buy it 😛
Keep up the good work!

Mira

Congrats on the wonderful news!!! Excited to read more about it in the near future.

And pretty impressive savings rate again. My total monthly expenditures are at around EUR1000 for one person so this is good motivation to trim that slightly. I should also aim to just keep postponing my wants!

Keen to see how your December post will look like. I often struggle keeping things in line during the holiday season.

Greetings from Austria,
Mira

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