Reset
This is a Financial Freedom Update post. Each month I report the status of my journey towards more financial freedom and reflect on my progress. To learn more about financial freedom please see my Think Week 2021 post where it all started.
Hello. It’s been a while.
My last update was in May of 2024. I have continued to save and invest a large part of my income since then.
But lately I have been more focused on saving again. And I’ve started to realize I need to track my spending if I want a high savings rate.
This is all part of a new experiment I have started. Let’s see how it goes!
Time to take a look at how this month went:
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I did not earn full pay this month as I took some extra vacation. Using money to buy myself freedom is exactly what I want so I can’t be too bothered by that.
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I have one bigger expense in the ‘Other’ category. But I’m also quite okay with that. It’s something I need and will use daily for a long time.
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It seems I’m spending quite a bit on ‘Food’. I do value good, organic foods. And I rarely spend much time looking at prices when I shop groceries. I tell myself I don’t want to be cheap in this area as good, healthy foods are super important. But there may be cheaper options to some of the things I buy – without a reduction in quality. I may have to track this trend over the next few months.
Overall I’m satisfied.
Results
Savings rate: 59%.
| Category | Percentage of expenses |
|---|---|
| Home | 58.23% |
| Food | 17.03% |
| Other | 8.19% |
| Personal | 4.06% |
| Union | 4.06% |
| Transportation | 3.28% |
| Health | 3.21% |
| Gifts | 1.93% |