Savings rate July 2020: slight increase to 33.99%

July was a fairly good month, one the one hand my expenses for “hobby’s” (mainly sports), rose rather high, on the other hand I was able to keep most of my other expenses in check.

Expenses

Lets start with the expenses and compare June and July

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The highlights

• Housing costs have slightly increased to 826 EUR since I had my EPC measured of my apartment. It was almost 10 years old and I am considering to sell my apartment to have a bigger budget to buy a house
• Hobbys remain high, mainly due to kite lessons, but I expect a drop for this in August
• Groceries have dropped. I wrote last month that I had an increase because of microwave food. This month I cooked 90% of the meals myself, and it shows on my grocery bill, I spend 100 EUR less, this is a wise lesson for me!
• Shopping has dropped a lot, I already got my summer outfit now, and I have no need for anything new
• Restaurant costs are at about 100 EUR, which is quite an accomplishment for me 😉

Expenses overview for 2020

My total expenses for July were 1909, slightly lower then the previous month

Income

Nothing special on the income side, I got my usual monthly wage. I just heard I will be working from home until January, so there will be no chance to earn any additional bonusses.

Saving Rate

Given the circumstances a saving rate of 34.99% is not bad. Of course its much lower then last year, but last year I did get a travel bonus as well.

2019 saving rate: 45.8%

2020 average (so far): 45.28%

Whats next

Next month I have my quarterly syndic costs coming up at 670 EUR. I still need to pay this 3 more times after that and then it will finally drop to around 400 EUR with one of the loans on this paid off!

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