As each quarter we finish with the budget. Sad this was a negative quarter, but all the major spending of 2020 is completes and we should do ok in 2020. Goal #1 will probably fail, but thats not the main point.
This quarter income was bit lower then last one – 7,6 kEUR. My salary 5,2 kEUR remained unchanged, while my wife received only 2,2 kEUR, because last quarter we received 4mo advance payment for 2nd kid. Also payments for 1st kid has ended on September. Our income will decline further in Q4 as my salary decreased to 1,44 kEUR/mo (-300EUR/mo), also we will have payments only for one kid 420 EUR/mo + 120 EUR/mo additional payments so our income next quarter should be ~6kEUR. Well thats life, we have to readjust our spending accordingly. Dividend income of 160 EUR was around 2% of our income.
Expenses were also lowet – 7,9 kEUR. Lets see how the 50/30/20 rule went on;
Fixed expenses – 4,5 kEUR or 59% of Income. Mortgage – 0,7 kEUR, Utilities – 0,3 kEUR, Food – 1,9 kEUR, Health – 0,2 kEUR and Transport – 1,3 kEUR. We had 450EUR extra expsnses for car repair, regular check and change of breaks, filters, oil ect. Maintainance is a thing. Car should do ok for few years now 🙂 Next quarter we have to have these expenses at 3 kEUR.
Flexible expenses – 3,4 kEUR or 45% or Income. Home repair – 1,3 kEUR, Clothes – 1 kEUR and other – 1,1 kEUR. More chothes were bough with abput you 50% discount, repair costs for toilet and bathroom completion and other costs are mainly gifts for my wife sister and parents that have aniverseries. Next quarter we should have these costs at 1,8kEUR. I think tottaly doable.
Spending was -0.3 kEUR above income this quarter. This decreased 2020 saving to 3,1 kEUR and saving rate to 11%. Next quarter our income will decline, but so should expenses as major 2020 spending is done. I think we should have saving rate back to double digit this year.