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My monthly Savings Rate report: October 2020

Monthly Savings Rate Report
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

Last Updated on November 1, 2020 by Mr. FightToFIRE

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

Nothing happened! A strange thing to be excited about, right? Well, after quite some busy months, it’s a nice change of pace I’d say.
Though it’s not really true if I’m honest. I took up three weeks of on-call at work resulting in a nice bump in salary this month. So my statement really only applies to my expenses.

This month was the first month where I had to cover the entire rent as my wife doesn’t have an income. While this did impact the expenses a bit, due to a lack of any other major expenses this resulted a pretty solid savings rate.

Income

This time around, nothing complex like pre-marital savings. Just a good old salary with a bonus for 3 weeks of on-call. I got  2,954.04 EUR in income this month.

Dividends

I received a nice dividend this month:

  • Aedifica (09/10/2020): 120.00 EUR.

This brings the total for this year to 292.23 EUR.

Expenses

Home management and ownership

As stated last month my largest expense is without a doubt the monthly rent (650 EUR). The same is happening to my interest payment. Where it was still 54.90 EUR last month, it got a bit higher (67.95 EUR) this month due to the next payment for my apartment. As I didn’t buy anything extra, These two expenses were the only ones in this category bringing the total to 712.95 EUR for September.

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

Food and supplies

In terms of groceries, we didn’t do anything exciting spending 396.28 EUR. We ordered from Burger King once this month resulting in 25.80 EUR for restaurants. Spending in the other categories was limited at 15.68 EUR for other small stuff like some icecream. Putting it all together gives me 437.76 EUR on food and supplies. Almost exactly the same as last month.

Luxury

Next up are some luxury expenses. This expense consists of one big purchase. Because of the increase in Corona-cases we wanted to at least keep eating healthy. To do that we aspired to eat more home-made food such as soups, but we were missing a mixer to help in the kitchen.
We don’t have enough space for a big-ass kitchen robot and we don’t cook that much anyway, so we decided on a hand mixer. The perfect mix of convenience, price, and quality. We landed on the Braun Multmix 5 with all the accessories.

After intense use this past month, I can only recommend it. It was well worth the money.  We have made three soups, 2 banana pancakes mixes, chopped up a lot of onion, and kneaded some dough. All for 99.95 EUR (on 01/10/2020).

another luxury expense was The Caves of Han, I already purchased these tickets during the summer through Social Deals and finally used them at the beginning of October. I still had to pay for parking (6 EUR) but that was it. It was a wonderful trip and due to the time, it wasn’t all that busy.

Finally, I paid my monthly subscription for Spotify and Patreon (11.04 EUR). All three expenses together put me at 116.99 EUR for luxury expenses in October.

Online businesses

The last big category I want to detail is the expense for my blog. It’s relatively low at 108.18 EUR because it was minor support to further improve the blog in the long run.

Other expenses

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

  • Person – 96.65 EUR:
    • 54.67 EUR for medical expenses: just like last month these were mandatory but not serious in the sense that wasn’t for a decease.
    • 41.98 EUR on a yearly subscription for my BMW X1: With this subscription, I can control my car remotely and preheat it during the coming winter months. Thinking about it, it probably makes more sense to have it under luxury.
  • Banking and insurance – 4.32 EUR:
    • In reality, this should be higher but because I got a nice cashback through Visa it’s peanuts.
      • 15.72 EUR Home and fire insurance
      • 22.35 EUR for CM national health insurance
      • 33.10 EUR cashback from my VISA credit card + 0.65 EUR cashback from Keytrade shared card.

All the expenses

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

The bottom line

Adding it all up makes 1,476.85 EUR in total expenses for October. I’m left with 1476.19 EUR which gives me a Savings Rate of 1,476.19 EUR/2,954.04 EUR = 50.00%!

This was my October overview. My Belgian friend Euromoney shared his September expenses and an overview of his portfolio. Unfortunately, AmberTreeLeaves remains relatively silent.

JoneyTalks Had an excellent Podcast with Sébastien. He also shared 10 low-costs side income ideas and a lot more interesting topics this October, so be sure to check out his podcast!

Please share your thoughts in the comments below!

This Post Has 6 Comments

    1. Hey Marc, thanks for the nice comment.
      I’m really happy with the 50% knowing we have to cover everything with one salary. Of course, the corona-pandemic helps in not spending too much 😛

      Yes, I’m really happy with it!
      Because it got an LCI and no full overhaul it was cheaper than the Q3 or GLA/GLC last year.
      I could get it almost fully specced and thanks to my employer got a solid discount.
      To top it off, I got it right before they made the emission regulations stricter so I got the 140 hp version 😀

      As you can imagine, I’m really happy with it.
      But of course, those things made it even better, but I picked the car because of other reasons:

      • it’s a reasonable size
      • very practical to carry stuff like a bike, groceries, furniture, etc.
  1. Dear Fight to Fire,

    Thank you for your interesting post. I have been enjoying your content for a while now.

    I was wondering, however, if you could provide your readers insights in your blog performance. Since you’ve been investing in it quite a bit lately. Could you show your blog stats (users, pageviews etc.). Ideally, also your blog revenue?

    This would provide us with tremendous insights.

    Thanks a lot.

    Best,
    Jef

    1. Hey Jef,

      Thank you for your kind words and a solid question.
      The investments I did are to elevate this blog in terms of reach and writing quality.
      It’s proof that I tend to keep this up for years to come and that I take it seriously. having said that, for the amount I invested in the last months I barely got any real-world results. But I do know it takes (a lot of) time.

      I’m happy you asked because I didn’t know my readers are interested in these things. I honestly never mentioned the blog’s performance as I believe it’s too off-topic.
      But since you asked, I can definitely give some insights. Here’s October for some specific metrics:

      • Visitors: 4617
      • Sessions: 5509
      • Page views: 8326
      • Bounce rate: 77%
      • Ads revenue: 17.61 EUR

      P.S.: Affiliate links almost 3 EUR so not really worth mentioning.

      But I’ll add it to this post. Thanks for asking.

      Greetings,

      Mr.FightToFIRE

  2. Hey Fight to Fire,

    Thanks for publishing your blog stats in the comment above, these are indeed very interesting!

    I’ve been following your blog for quite some time now – it’s great to have a European perspective to FIRE. I felt like many of the strategies and suggestions made by your American counterparts don’t fit with our situation and realities. Thanks for filling this gap and posting interesting articles so consistently.

    From your numbers I take it that you currently have one income and two people’s worth of expenses. It may be a very personal question so please ignore if you find it intrusive. I’m keen to find out more about how other couples manage finances especially when working towards FIRE. Will you and your wife keep your finances combined even when a second income comes into the equation? Are there any particular pros and cons financially, as well as from a relationship aspect? In our household we currently keep everything separate, with a relaxed give & take approach for communal items and joint experiences. Would appreciate your input on this as you and your wife seem to be on the same page about this journey 🙂

    Greetings from Austria!
    Mira

    1. Hey Mira,

      Thanks for your excellent question. I don’t mind being open about this. Your questtion is actually something I was going to cover in the near future in a separate post as I have some big family news 😉
      But to cover it in broad terms, my wife actually started getting into investing as well. Not quite as intense as I am but she recently started reading “rich dad, poor dad”.
      As far as shared finances go, you are correct that for the moment it’s on one salary. Luckily, as you can see in my post above, I have a good salary that allows us to cover everything and still save money. Once she gets an income technically it’s shared as we didn’t get a prenup. That said, we will both keep our own accounts and deposit an equal percentage in a shared account we already have.
      I hope this gives you an idea already. But again, I will cover this in more detail in a week or two 😉 Look forward to that!

      Greetings,

      Mr.FightToFIRE

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Mr. FightToFIRE

I'm the owner and the main writer of FightToFIRE, a personal finance blog focussing on Financial Independence and Retiring Early. During the regular working hours, I'm a developer for a major financial institution in Belgium. During my off-hours, I write. do some weight lifting and other stuff to keep me healthy and fit.

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