I would like to keep a better track of my private spending. A great way is to update every month and evaluate income and especially the expenses.
Actions so far
This is my second update and have already found a lot of thing I could save money on. This is what I have done so far:
- Cancellation of membership at the fitness centre (EUR 47 every month, 3% of my total expenses). I will instead work out outside or inside if there whether is bad. There are a lot of outdoor spots where you can work where I live.
- Must admit I spend around EUR 25-35 on my Nespresso machine every month. So I will not buy new capsules for some time…
- I cancelled our newspaper. We get a Danish version of the Financial Times every week. This will save Eur 17 every month.
- For music I have used Spotify for some years now. This is cancelled now, so we only have Netflixx at the moment. Spotify costs EUR 13 every month.
I think that is all. While these seem as small items they actually add up to over 3% of my income and over EUR 1.300 a year.
- Salary after tax: EUR 3.150
- Payment for car miles (work related): Eur 108
- Joint expenses with girlfriend (rent, utilities etc): EUR 671 (down from EUR 800 last month)
- Food account: EUR 268
- Car mortgage: EUR 170
- Car insurance: EUR 91
- Gas for car: EUR 170
- Fitness membership and personal trainer: EUR 29,4
- Coffee, alcohol, food out: EUR 19,4
- Books: EUR 11
- Clothes: EUR 269
- Movie: EUR 10,5
- Gifts: EUR 24
- Other items: EUR 17
Total expences: EUR 1.652.
So total savings rate is: (EUR 3150 + Eur 108 – EUR 1652) / EUR 3150 = 49,3%.
Very close this month. However it is easy to see how I will get above the 50%. The car expenses corresponds to 20% of all my expenses.
Also this month I used some money on clothes, however this will keep me going for some time now.