After two difficult months with dropping savings rate it seems that I finally managed to turn it around! I decided to visualize my expenses so its easier to see where my money is going. Check out my new pie chart for the very first time!
Let’s go over the highlights of this month:
- Living costs were not so bad and staid at 718 EUR this month, even though they are my biggest expense, 700 EUR is really fine as it includes a 550 EUR / month payment of my loan
- Restaurants costs went up again to 500 EUR. I had to go on a business trip to Tel Aviv, I didn’t knew anyone there so I went out eating a lot more then usually. Although I do get paid a bit extra for going there, so it does evens out
- I probably spend to much on shopping this month, Ill have to watch that next month!
- Otherwise no abnormal spendings, just a regular month. I decided to visualize
Again the 1270 EUR seems like an impossible goal unless I plan to live inside a cave and never come out! But maybe there will be one month where I manage to pull this off. Maybe March or April…? 🙂
In total I’m really happy about my savings rate, it ended at 59,55%, although I think I can do even better!
The moment you have all been waiting for 😉 The graph with my savings rate. Compared to last year Im doing much better in February, although its clear that last year my holiday costs came in February and
Average saving rate so far…
As a final note I want to close with my average saving rate of the last 12 months. So far I am able to get a 40% savings rate in the last twelve months, an increase with about 5% compared to last month. I have not reached 50% yet but I keep reaching!
I have a competition with myself that I need to do 5% better then last year. All I can say is, its not over until the fat lady sings 🙂
I have a week holiday in march, while it will lower my income slightly I have not planned anything big. I do need to purchase some extra clothing as some things just really need to be replaced.
I am starting to do more and more sports and hobby’s, something I am happy to spend money on as its the best investment I can make! This will make me happy and not have a big effect on my savings rate so a perfect combination! Having fun should not be expensive, it should just be fun.
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