Monthly Finance Update #4

August’s update is ready a turns out to be a pretty good month.

Multiple paychecks hitting the bank account and the last month without a rent expense.

As always showing these financial numbers and progress with full transparency has the goal to give you guidance and reference to compare and hopefully learn a thing or two from.  

Keeping myself accountable is an added bonus and on helps me follow the path to financial freedom. 

A special thanks to fellow Danish FIRE-blogger Frinans for inspiration and guidance creating this visual presentation of my progress. 

Income after tax:                          29.100 dkk             1830 €

Invested Amount:                          2.800 dkk               375 € 

Tiny House Savings:                      2.500 dkk               335 €

Cash savings:                                   19.046 dkk               2550 €          

Savings rate:                                                 84%

Total invested in Indexes:            34,650  dkk         4650 €

 The goal for 2019:   Invest 30.000 dkk / 4015 €

                    Progress:                   22.500kr (3017 €) as of this month.

                                                      Which equals 75% of the way 

What has happened this month?

2019’s goal of investing 30.000kr (4015€) is now 75% completed which has not felt or made a significant difference in the monthly balance.

This will definitely continue. 

Index investments were purchased automatically again with a slight increase in amount, as an earlier share, I still have, paid dividends which this month was added to the fixed amount of 2.500 dkk ( 335 € ) making it 2.800 dkk ( 375€ ). 

Thursdays workplace in perfect conditions

The job at the Danish folk high school has changed quite a bit this month changing every other week from teaching kitesurfing to grown-ups, to ages 20-28 and now all autumn teaching 14-17-year-olds in the subject ‘Boardsport’.

This job now is a steady income now and guaranteed whether there is wind or not.

And this was the goal.

Great! 

The month of August has also had a few family events which meant enjoying time with a lot of family and a slight increase in the expense for presents which was lovely- and a pleasure to be able to give. 

Tiny House Update

The start of August started with a very interesting meeting with a community wanting to help Danes build their own Tiny House.

They have offered to solicit expertise, tools, contacts and an area to build at a very reasonable monthly charge.

As a couple, not having any building experience this appeals very much to us and this is therefore what the plans are working towards at the moment. 

The Tiny House build start is set to November 2019!

Exciting as hell.  

Updates on the build with plenty of pictures and videos will be shared on the facebook page here.

Follow if interested in seeing our good days and of course the tough days too. 

Inspirational photo this month

Savings for Tiny House increased again by 2500 dkk (335 €), the same amount by Mrs. Willow. This automated transfer makes putting money aside feel quite easy and the savings are steadily increasing significantly. 

We are still budgeting 500.000 dkk ( 66800 € ) for the tiny house, a plot of land and transportation. This may be way over the top, may not. But for this amount, we should definitely be in a good position.

Focus next month

The 1st of September is moving day!

The new location is Copenhagen, Christianshavn which will be much more pleasant having a proper base instead of living in a rucksack full-time.

This also means there will be a rent expense from now on but at a very reasonable rate which is amazing value living in the capital of Denmark. 

The focus for September is starting the process of planning, designing and finding the right trailer for the Tiny House build in November. 

And a hell of a lot of decisions to make regarding what we wish to live in in the near future! 

Is there any information you would love to know a little about on these monthly updates? 

Let me know in a comment below. 

Financial update over and out #4