March was a month of regret. Seeing the low balance of my portfolio as everything was lost during the gambling in February.
What helped me was to keep on reading books from Warren Buffet called “The SnowBall”
and the book “Your MONEY or your LIFE” by Vicki Robin.
Those Books helped me to come through the month of March.You should really check it out if you havent done yet.
I will write all my income expenses reports to have it on record and for public view for everyone to see how I as a young millenial am able to cope up from the losses that’s been generated and improve myself on my financial behavior,to become Financial Independent eventually.
As Working continued the month of March I have been able to
add some money to the bankaccount once I received my salary, just to get back from the red to the black numbers.
As that addiction gotten me to add a 1000 euro’s extra during the month of February towards the portfolio to lose even more in total.
I have lost a total of 3000 euro’s in just the month of February not counting the winnings as I had one moment a total of 16000 euros thanks to some lucky share rises. 500 euro’s lost on optie24.nl, so a grand total of 3500 euro’s.
Could’ve had 105 euro’s a year working for me on a yield of 3% of that 3500 euro’s if I didnt gamble it up.
Too bad everything was lost a few days later on and that is something that will stay in my mind for probably the rest of my life.
So thats the thing..I wont ever touch the buy button anymore on very low quality stocks,eur/usd currencys and turbo’s speeders.
I just want to prove to the world that a young father at the age of 26 with a low taxi salary can be financially independant within 20 years by investing about 1000 euro/1200 dollar a month. My aim is 45 to be free of my chains of working and spending all my time with my girlfriend and son by traveling over the world. There’s just so much to see and so little time. Even this past year I’ve worked all the holidays except summer holiday just to earn some more money.
By living a frugal lifestyle I’m able to cope with the 1000 euro investment a month that I’m gonna be making starting in January May 2015 as I do need to save some money for some future planned expenses.
So each month I will update the Income & Expenses for the previous month so this update will contain the month of december 2014. I am tracking every euro of what comes in and what goes out, so what you see is exactly what I have earned and spent (rounded to the nearest dollar). As this blog is international ill just keep it in US dollar and use the currency calculator on google using the term “euro to usdollar”
| Income From March 2015: | |
| Salary Income | $1643 |
| Other Income | $222 |
| Tax Authority | $289 |
| Total Income | $2154 |
| Expenses From March 2015: | |
| Mortgage + Utilities | $881 |
| Auto | $28 |
| Student Loans | $53 |
| Insurances | $491 |
| Gifts | $0 |
| Everything Else | $299 |
| Total Expenses | $1752 |
Income
This is now my fourth income/expenses report that I’m posting about.. it does seem a bit awkward by just sending it out to the world for public view, but I am for real and want to spread my word across the globe through the internet. The word that wealth can be made by those like me that have a low salary income and by living a frugal lifestyle, just by investing all the leftover money in high quality dividend growth stocks for early retirement.
The salary that I received this month was lower then normal being at 1478 euros. Because I used some days as holiday and then im missing out on working extra. My work schedule is normally about 45 hours/week but my contract says 36 hours a week so only got payed for the 36 hours.
I dont need a high income to be FI.. probably arround 1200 dollar a month would be just fine for me. Everything above that will give us holidays to foreign countrys. By the time we are FI I will sell my appartment for probably arround 150.000 euro’s which will give us another dividend income boost. We will by the time we reach FI arround the year 2030-2035 be visiting alot of foreign country’s starting in europe.
The month of March was bad as I had zero Quality Dividend Growth Stocks.
The Tax Authority consists of $289 as they are paying the rent of my mortgage. $222 was received from my partner to help with the bills she wants to help me getting us to Financial Independence earlier. She donates it to me monthly from now on speed up our process.
Still getting too much from the tax department/Tax Authority every month so that goes towards my savings account. That once they come to reclaim the money that they’ve send too much then I’ve got it set nicely aside.
Expenses
Mortgage and utilities consist of :
$554 mortgage $39 cable tv/internet $142 electricity/gas $128 VVE for homeowners association
Auto
My auto was not used by myself and my girlfriend fills the tank for her job as she needs it more then I do.
I am on my bicycle for a total of 80 minutes a day up and forth from my job.
The student loan I have with the interest percentage 1.5% will be payed with this amount of $53 for a while until the total amount of $7085 – now because of the falling euro -> $7642 is payed in full.
Gifts
None this month
Insurances
Life insurance 2$
Household insurance 14$
Car insurance 36$ Last month
Funeral insurance 11$
Healthcare insurance 117$
The Everything else
Had to pay 28$ roadtaxes to the state so the car can drive.,hosting of the website 7$,bankaccount related costs 2$ and dentist costs of 184$
Savings
This last month of March 2015 I have managed to save 0% of my income. Could have saved % more if I Wasnt a nucklehead and sticked to my goal of investing in high quality dividend growth stocks. But it was also because of dentist costs
The savings goal I have for this year 2015 will be 60% a month of my total net income. Might not make as I started out bad this year. But I keep optimistic for the rest of the year as I have done a terrific job for myself to save a lot to start out my forest full with seeds.
Now on to Income/Expenses of April!
How many insurances do you girls/boys have? Just as many as I do?
Father of 1 son aiming to maximize our frugal lifestyle and to become financially independent when im 45 years old by living a frugal lifestyle early on in life and investing most of my spendable money on high quality dividend paying stocks
Good luck on your expenses. Europe seems to be a very different place for me when it comes to the type of expenses you have.
IF you want to retire in Holland then u would definately need an income about 1500-2000 euro’s a month. With a payed off house with atleast 1000 euro’s monthly income. But I have to let u know thats an amount to have all basic needs and taxes covered. Just to live.. everything above that is for nice holidays and fancy extra’s
ALL dividends mlp reit or whatsoever ALL get taxed at 15%. Only difference is.. u also get taxed 1.2% over ur total networth be it money on the bank or a portfolio at a broker’s website.
Theres some points to be noted that u have a discount of -2103(less if u have a higher income) of what u have to pay as taxes and its all above ur line of 20.000 euro’s.
So if u have for example 100.000 euro portfolio and nothing else
u will be at 100.000 – 20.000(if u are married then its all above 40.000) then u have to pay taxes over 80.000
So 80.000 taxed on 1.2% rate would be 960 euros taxrate to pay.
But because ur income is lower then € 19.645 yearly u will get a taxfeediscount, in dutch its called “heffingskorting” of about € 2103 (an amount u will receive from tax authority) then theres the sum € 2103 – € 960 = € 1143 u get yearly from the government.
So in short barely no tax to pay apart from the 15% reduction by the broker of the dividends.
But if u would like to live off the dividends then u would need around 320-350.000 euros to live comfortably(with a bought off house).
Just to be safe as every year there’s massive changes in the taxes people have to pay over here.