At the beginning of the year I started to keep track of my monthly income and expenses much more closely than in the past. From now on, like many other bloggers whom I follow, I'm going to report my income and expenditure here, but I will do it on a quarterly basis. This will give me a better view of the overall situation and hopefully will inspire some of my blog readers.
Here are my numbers for Q1:
All revenues are reported net of taxes.
During the first quarter of the wage income was pretty normal, I did overtime just for one weekend. In February, I received a winter holiday money, so that's why in a February salary is higher, respectively lower in March, because I worked a week less in February. Expenditure in January was slightly higher than average, due to some of the expenses that I pay once a year.
My goal is to save about half of my wage income and invest it. After the first quarter I'm a little behind on my target, my saving rate of wage income was 42.15%. When I take into account also the dividend income, my savings rate rises to 53.43%.
One thing that I will follow with great interest is the dividend income and expenditure ratio, because it is the most important thing on my way towards to the financial independence.
The march was an excellent month, dividend income covering more than 70% of my expenses. On the whole, I am very pleased with my achievement in the first quarter, more than 40% of my expenses I am able to cover with dividends.
I look forward to what the next quarter will look like, and at the same time I try to improve the saving rates of my wage income.
Thanks for stopping by!
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