• This is the savings report of January 2020.
  • 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 January 2020

This is the first savings report of 2020! Time to start the savings reports series in the new year.

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.

You can read my December 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 a previous post I wrote about how I manage to save more than 40% of income by doing 3 key things.

The Numbers

As I mentioned before, my savings rate for the past months was affected by my mortgage payments. Hopefully I will be moving in soon so I can add my current rent payment to my savings.

On the income side, January was a solid month due to the extra days worked and likely to be one of my top months in 2020.

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

Below are my 2019 saving results:

So as we can see, I ended 2019 with an average saved amount of 3276,67€ per month.

In January I was able to save 3383€. This is higher than the average of 2019 so it is always something positive.

The goal for 2020 is to increase my savings rate as I stated in a previous post, to a monthly amount of 4167€.

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


One of the main reasons on why I did fail my monthly goal, was that I had some extra expenses with my car.

I am selling one of my cars and I had to do some maintenance to put it up for sale. Hopefully I will be able to sell it fast so I can get extra money soon.

Also in 2020, I am still feeling the pain of the double payment (mortgage + rent). It will last at least more 3 or 4 months.

In January I was not able to add as my investment accounts. Most of the money went to savings account due to the fact that I need money to pay the last part of the apartment, kitchen and furniture. If you are curious about my portfolio, please go here.

I also run a weekly newsletter on which I share some investment ideas and discuss purchases for my Stock Portfolio. Subscribe here!

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…”

In 2020, I will continue to track all my financials. I make it a monthly ritual. It is true it takes time, 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.