2018 Q3 Budget

And the last thing to do for passed quarter is our Budget report. Main thing what was going on during this quarter was that we accelerated with our kitchen repair. On our original plan kitchen repair should have ended with some demolition and further works should have been done later when enough funds was saved. But as always everything turned out the other way. My wife was very upset with old kitchen with baby on the way so we decided that all works has to be completed before the baby has arrive. That means the floor, the walls and all new kitchen set. Worst case I was thinking about selling some of my shares, but then my mother received some money from sold summerhouse and gladly agreed to borrow me on “friendly” terms 🙂 So we borrowed 5 kEUR from her and agreed to pay it back with 100 EUR/month payments. I said that its also good for her as she will not spend the money and will have add-on to the pension 🙂

I wouldn’t be me if I took the challenge to do part of repairs myself, which I did. Painted the ceilings, walls and put up together a heating floor… These were very intensive few months as all of my spare time went to these repairs. Have to say saved thousand EUR or so but I was overwhelmed 😦 Either way the repair is done and baby a ok 🙂

Income:

On the income side we ended up with 5,9 kEUR income this quarter due to increased wife salary. Compared to 2017 Q3 income increased from 5,1 kEUR of +0,8 kEUR, that is a nice +15%. Increases was lead by +0.5 kEUR wife income increase and +0.2 kEUR my salary increase. To note that small small part of increase was lead by dividend income increase from 53 EUR to 91 EUR. So income is on the right track and stably growing 🙂

Expenses:

Expenses were 5(10) kEUR as mentioned above I did not included 5 kEUR kitchen expenses that I borrowed from my mother but will include 100 EUR/mo repayments. Same as for mortgage and student loans. Last year expenses were 6 kEUR. So were did it break down:

• 1,5 kEUR or 30% as always was spend for food and small consumer goods bought at our local store. For the past 2 quarters these cost was at this higher level. I have to admit that I have done zero dinners at home to work so that increased our spending. Also bought high quality and quite diversified food. Well as always some improvement in this area 🙂
• 0,6 kEUR or 13% was mortgage loan payment.
• 0,5(5,5) kEUR was for home repair. Now that it is completed we can calculate how much in total since Y2017 we have invested into our new kitchen. In total it was around 8 tEUR. Let see what was done:

Balcony. Cost us around 2-2,5 kEUR. On photo to the left you see already glassed balcony and middle window and door to the balcony already removed. To the right you can see then end result. As you can see we removed part of the wall and made one single room with the kitchen. Increased our kitchen size by 3-4 m2 and made a perfect dining place : )

Kitchen. Then we have kitchen it self. Again before old 20 or so years sold kitchen set and fully new kitchen set from IKEA. Have to say IKEA gives best price to quality ratio. Kitchen it self cost us around 3 kEUR including dishwasher and oven. Have to say that is a real good price. Another 1 kEUR cost us transportation and installation of the kitchen. There is no way I would do it myself. And you can see the new floor. Yup that was made by me 🙂 Also installed electrical heating. All in all this new kitchen will likely serve us another 20y so it is a L/T investment also increasing our home value.

• 0,4 kEUR or 8% went on holidays. Have to say this year it was REALLY cheep, but wouldn’t say that is was very good at the quality.
• 0,4 kEUR or 7% went for Utilities.
• 0,3 kEUR or 5% was spent on health. Lots of scans, vitamins ect.
• 0,3 kEUR or 5% for transport. Cost were minimal this quarter.
• 0,2 kEUR was spend on clothes.
• And finally 0,7 kEUR classified as other cost.

Saving:

Now with some ‘cheating’ and excluding mothers 5kEUR loan for kitchen repair end results was actually positive this quarter +839 EUR or 14% of our income. Almost in line with our Goal #2 – save 15% of our income. Average Y2018 saving rate continues to stand at 16% and is so far in line with our goal. Strange it might be that we might even succeed with this goal this year 🙂 Total saving this year stands at 2,9 kEUR, that already passed last year result. So this is what was cooking at our family last quarter. In general it was one of the hardest times for me, but now it is the best time 🙂 Our little angel arrival makes everything else not that important.