me to review our budget. It was interesting to see how much we spend and received 🙂 Corona virus is spreading across the globe and we are staying at home for 3rd week now.
First of all I would like to announce that we have Competed our y2020 Goal #6 – Toilet and bathroom repair. Now the nasty part – cost. As always cost was higher them expected. Approximate 5 kEUR. Compared to 8 kEUR that we spend on kitchen I can say this was good amount. And the best part – we finished the repair from our money and even remained positive on income/expenses.
This quarter saw record income – 10,9 kEUR. My salary 5,2 kEUR remained unchanged, while my wife received 2,4 kEUR for second kid. Dividend income of 332 EUR was around 3% of our income.
Expenses were high due to repair work – 9,3 kEUR. Largest share or 3,5 kEUR went for repair works. Now lets see how the 50/30/20 rule went on;
- Fixed expenses – 4,0 kEUR or 37% of Income. Mortgage (0,7 kEUR), Utilities (0,5 kEUR), Food (1,8 kEUR), Health (0,2 kEUR) and Transport (0,7 kEUR). Was more then ok due to higher income and slightly lower fixed expenses this quarter.
- Flexible expenses – 5,3 kEUR or 49% or Income. Holiday (0,2 kEUR), Clothes (0,5 kEUR), Home repair (3,5 kEUR) and Other (1,1 kEUR). We had short cheap holiday on May. Also bought more clothes for newcomer. Without repairs flexible expenses would be around 2 kEUR well bellow 30%.
Income was 1,6 kEUR above our cost which lands to 14,9% saving rate. Bellow the goal to save 20% of our incone. Halfyear result +3,4 kEUR. A very good result with all of these expenses on the way.