As always we finish quarter with a budget📊. As you can see the result was quite good – income increased and expenses declined compared to previous quarters ☺
Income – 7,3 kEUR📥 (+1 kEUR QoQ). My salary 4,1 kEUR remained unchanged but I received +0,8 kEUR annual bonus. Good news from this front is that starting from April I will receive 220€/mo higher salary! Yup I got a promotion🎉 Looks like we will be back to previous level. My wife received 0,7 kEUR tax refund so we got bigger income already. Dividend from January, February and March made 179 € made 2,5% income share.
Expenses – 5,6 kEUR📤. (-0,5 kEUR). Lets see how we do with 50/30/20 rule:
- Fixed expenses – 3,8 kEUR (-0,2 kEUR) or 52% of Income. Mortgage🏘 – 0,7 kEUR (-), Utilities🔌 – 0,6 kEUR (+0,2), Food🥘 – 1,5 kEUR (-0,4), Health💊 – 0,3 kEUR (-) and Transport🚗 – 0,7 kEUR (-). Decrease mainly due to food cost – positive quarantine side as I eat at home. Slightly higher utility bill as its winter and heating costs adds on. Level remained slightly above 50% mark.
- Flexible expenses – 1,8 kEUR (-0,3 kEUR) or 25% or Income. Home repair🔧 – 0,6 kEUR (-) , Clothes👕/baby stuff🍼 – 0,6 kEUR (+0,5) and other🛒 – 0,6 kEUR (-0,8). Well bellow 30% mark. Bought new baby car seat. Its a must have thing, you cannot risk on you kid safety.
Savings – 1,7 kEUR💰 (+1,5 kEUR) or 23% in line with Goal #1! A good start of 2021 I say. Yes some major spending on the way according to our Y2021 Goals: Holliday🛫, wife eye surgery👀, son baptism👶 will cost us 4 kEUR or so but some income increase is on the way as well.