2019Q1 Budget

And last but not least – Q1 budget. As always first quarter of the year has the biggest income due to bonus from my work. Also we received some gifts from our relatives for our little one baptism. I tought a lot should I include these one-off incomes. Previously I excluded expenses that they were spend for and did not included them. This year im going other way. Have to be fair on what we actualy spend, right 🙂

0Income

Income:

Our income was whooping 8,8 kEUR. 1,9 kEUR were these mentioned one-offs and remaining 6,9 kEUR regular income. Almost same 7 kEUR received last year. Made quick comparison to 2018 Q1 Budget and the major changes are:

  • +0,3 kEUR bonus increase from 1,7 kEUR to 2 kEUR.
  • +0,1 kEUR my regular wage increase from 3,7 kEUR to 3,8 kEUR.
  • -0,5 kEUR wife/baby income 1 kEUR compared to 1,5 kEUR year before. We received January payment at Christmas. Bit cheated on Y2018, but it will even out at end of the year.
  • +36 EUR dividend income, which increased from 21 EUR to 57 EUR. And that was amazing 0,6%.

Expenses:

As a general rule with record income comes record expenses of 7,1 kEUR. Compared to 2018 Q1 5,7 kEUR thay were +1.4 kEUR higher. And that was without 2,7 kEUR 20% car down-payment that was excluded as was borrowed from my mother. This debt of honnor is repaid 70 EUR/mo for another 9,5y and these payments are included in our expenses. So lets breakdown to numbers:

  • +0,6 kEUR Food and other groceries increase from 1,2 kEUR  to 1,8 kEUR. Actually 2018Q1 food expenses were somewhat lower then our average of 500 EUR/mo but still it is increase to 600 EUR/mo. Dippers and stuff. Also no control on this line spending :/
  • +0,5 kEUR was spend more on clothes. 0,8 kEUR compared to 0,3 kEUR. Good part of my bonus was spend on stuff needed for our baby. My wife visited her sister in Ireland and bought lots of useful stuff for lower price then in Lithuania. 200 EUR was for new buggy.
  • Funny thing transport expenses were same 0,7 kEUR. On 2018Q1 we spent heck load of money on not working old car repair 😀 First payment of 180 EUR was paid at March, also car civil insurance of 160 EUR. This line will increase going forward, but we need a normal working car.
  • Then we have 0,6 kEUR home repair cost, which was -0,3 kEUR lower then 0,9 kEUR year before. We should have much less expenses in this line this year as major repair works are completed.
  • 0,6 kEUR Mortgage loan. Same as year before, no change here.
  • +0,5 kEUR holiday expenses, which we had none at 2018Q1. 150 EUR was airplane tickets for wife 1 week trip to Ireland and 350 EUR advance payment for our holiday at Crete at July.
  • 0,5 kEUR Utilities same as year before.
  • 0,3 kEUR went for Healthcare, which was -0,2 kEUR less then year before 0,5 kEUR, when our little one was just starting her journey.
  • And we have all the other cost which was +0,4 kEUR higher or 1,2 kEUR compared to 0,8 kEUR year before. Again more various spending on electeonics and stuff like that related to more income.

Saving:

Now lets see how our 2 financial goals are doing. Should be a horror movie due to record spending. To remind our  Y2019 Goals include:

  1. Save 20% of income.
  2. Accumulate 5 kEUR in cash.

Funny thing our cash flow was +1,8 kEUR positive or exatly 20% from our 8,8 kEUR income. So we are in line with our Goal #1 even with these massive spending 🙂

Then we have cash accumulation goal. As you know I have divested some holdings and later invested part of that capital to KHC. Net result 2,2 kEUR of cash remaining in pur account. When I last peaked to my saving account there were 2,8 kEUR. So we are 2,2 kEUR away from our Y2019 Goal #2. With 9 months to go we should set aside 244 EUR/mo. Totally doable as I have set 250EUR/mo automatic transfers to our saving account + 400 EUR or so dividends. Little bit of cheating with divestment, but nobody is perfect 😉 Still 600 EUR was set aside from our income durring 2019Q1.

How was your budget this quarter? 🙂

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