November 2019 overview

November 2019 overview

Good morning everyone!

Not too long ago I started with tracking every expense I made. I made a handy spreadsheet to write everything down in Excel and I got to work. I personally love seeing other people’s income and expenses to compare with my own and to see how other people live.

Just to explain my financial situation: I am still a student, working two days a week. I have a loan from the government which is meant to be used for my education, but I paid that all in full so I can use the loan to pay off my mortgage. I bought a house when I was 19, which leaves me with a huge mortgage that I intend to pay off as soon as I can. Other income comes from selling items online, crowdfunding, cat/babysitting and a little help from my parents.

Income

So my overall income in November 2019 was around €3.800. This is including a student loan of around €1.000, income of around €1.000, rent of €650 and some extra from odd jobs. I rent out one room in my apartment to gain extra income. I also got a lot of money back from my electricity company because I didn’t use as much as I paid for.

Expenses

My expenses in November 2019 were way too high for my liking. To start with my monthly set costs: around €800. In the past year I wasted too much hot water, so I had to pay an extra €180 to make up for that. One of my goals for the coming year is to definitely waste less water! Take quicker showers and leave the heat on low. The rest of the set costs were no surprise and pretty much the same as any other month. Because I am a homeowner, I have to pay mortgage every month. I am lucky to have a very low mortgage so this is not a big cost for me.

I had to get gifts for my family and friends for a Dutch party named “Sinterklaas”, where we gift each other items that people put on their wishlist while we stuff ourselves with chocolate and marzipan. This put quite a dent in my income, but I also received some nice gifts from my family and friends.

Another set of expenses I wasn’t planning on but had to be bought: ski clothing. I’m going on two skiing trips next year and I needed some gear for that. While my plan was not to buy any clothing until next year, I allowed myself to get some second hand ski gear to even out the expenses. This month I also had to pay for said ski trip which drove my costs up even higher.

My overall costs in November 2019 were €1.650. I try to stay under the €1.500 monthly, but with the extra costs for the hot water, this was to be expected.

Savings

Every month, when I receive money from my student loan, I put that money straight into my savings account. Once in a while I send a chunk of money to the bank, to lower my monthly mortgage payments.

Next to that I save some of the money I make at work or doing odd jobs. Including the student loan, I saved €1.600 this month.

My savings percentage of November 2019 is 43,39% if I include my student loan, and around 22% if I do not include my student loan. In October, my savings percentage was 62,77% respectively 31,64%. I hope to raise my percentage up to at least 50% next month.

Investments

I’m still learning about investing and taking it one step at the time. This month I invested €200 in a crowdfunding project that makes foil. €200 against an interest rate of 7,5% will pay me €4,79 monthly from April 2020 on. I did not earn any money with my crowdfunding in November.

Conclusion

Although I spent more money than I was originally planning on this month, I also earned more than I usually do. This was partly money I already paid (for my hot water), but also some money I made by taking on extra work and some money I received for my birthday. It was a good month but I can still lessen my costs and try to optimize my earnings.

Naïna

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