Update: September 2018

Update: September 2018

Mon, 10/01/2018 - 23:32
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Wow, this is the first month ever providing the world with an monthly overview of the current status of my hustles. A bit scary, but at the same time quite exiting. In August and September this year I have been reading a lot on Financial Independence (FI) and everything finally connected. I've been on this path for a while already, but on an unstructured approach, not setting clear goals and measuring my progress towards them. So from this month forward I started working on getting a structured system in place. Let's dive in to our first monthly overview! 

Assets Income
REDSTAR   REDSTAR (external) EUR 0
ProjectX EUR 502
Payment commissions EUR 113
Total EUR 616

As you can see, it's not all to exiting. There are a few passive income streams but nothing too exited. But better than nothing right? beside this I have my business where I could withdraw a passive income out off if I wanted, but I see no need to do so and increase my tax exposure. Beside I have other plans for some of the business funds in the near future. These passive income streams go towards a savings account for our daughter in China. At some point next year they will be redirected towards investment opportunities within the EU (index fund, crowdlending).

Savings rate

As I am just starting to correctly measure this, no (pretty) graphs just yet. The summer and half of September are always a though time with no income inflow of my part-time job. I work on a 10 month contract, so no pay in the summer unfortunately. For September that means I only got a prorated part of my monthly income. Combining that with arriving back after a 2 month break, meaning we had quite some start-up costs in our living expenses. Restocking the fridge, getting diapers and other essentials. Not the best of months financially, but we ended up on a savings rate of 28.03%.

Planning next month

We all got to start somewhere, this is my base line. I'm starting out without dept, some passive income streams and two growing businesses. I'm far far away from my FI goals, but I feel confident in this running start and where I can take things from here.

After a lot of reading I have the first non-business investments planned. Stay tuned for next month!