Summary:

  • This is the savings report of June 2019.
  • Every month I write a savings report with the total amount saved.
  • The amount I consider “saved” is the one that flows out of my checking account.
  • Capital is allocated to the 5 different baskets mentioned on my Portfolio.

Savings June 2019

June was a very good month for my savings and put me back on track!

I have been writing about how much I am saving each month and I intend to keep on doing it. It does help me to evaluate myself and it keeps me motivated. Hopefully, it will also help others to commit to their financial journey. Why not start your own savings report?

After a shy May, I was able to get back on the right path in June. You can read my May savings report here if you missed it.

While saving has a very symbiotic relationship with our income, how we manage our money plays the biggest role.

“If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.”

Edmund burke

I already discussed the importance of limiting our expenses in order to improve our savings rate and therefore, pave the way to financial independence. You can read here about how I manage to save more than 40% of income by doing 3 key things.


The Numbers

June was a good month in terms of net income with quite an increase from the previous month (+14,46% MoM). June marked the second highest income of 2019 so far. Up 14,78% against the 2019 average just for reference.

I do not have a fixed income like most people and I can easily have 10 to 15% fluctuations month-over-month.

Time to get all numbers in. Let’s see my 2019 saving results so far:

  • January: 1500€
  • February: 2690€
  • March: 7350€
  • April: 3810€
  • May: 1100€

And finally June with 4300€…the second best month of the year!

Savings Report June 2019

So as we can see June is well above average while May is still my worst month of the year so far.

My average saved amount in the first 6 months of 2019 is now standing at 3458€. It means my goal of saving at least 4000€ per month is not looking that far away and is quite possible to achieve.

Having realistic goals is always better than just “dream goals”. Easier to achieve and to improve.


THE REVIEW

I was somehow surprised by the June results mainly due to my 5-day trip to the UK and all the extra costs involved. Luckily, I managed to cut on fuel costs by using a car-sharing application and giving a ride to a few people along the way.

The accommodation and the ferry from Belgium to the UK were expenses already paid since last month so the pain was felt in May rather than in June.

Motorcycle Sale

Another piece of good news for the month of June was that I concluded the sale of my motorcycle to a friend. This was the first motorcycle I had and my introduction to the 2 wheel world (a passion of mine). It was hard to see it go but it had to. After fixing the mechanical problems it had due to non-usage, I was still able to get some value out of it for a 12 years old motorcycle.

All the money of the sale was entirely used to pay off debt which always has a positive impact on the net worth.

This is a great lesson I take from FIRE. Stopping accumulating material things that we do not really use anymore. And if such things keep taking money out of us…even worst!

It is sometimes hard to let go of things when you have some kind of emotional relationship with, but usually, those emotions do not translate into good financial decisions.

I am fully focused on improving my financial life and I take it as a step-by-step process.

“Financial independence comes from small goals compounded…”

From 2019, I started to seriously track all my financials. By seriously I mean I make it a monthly ritual. Yes, it does takes time to compile everything but I do like the visibility it gives me over my personal finance.

How much are you saving each month? Share your goal with me in the comments below.