In 2019, Oscar and I will try to keep the expenses up to date on a monthly basis. The statement will show monthly fluctuations as certain payments are only due once a year or quarterly. The goal is, as always, to put 50% of the NIATH amount on average into savings every month. For newcomers, here you will find the definition of NIATH (net income after taxes and health insurance).
| Spendings | Percentage |
|---|---|
| Housing costs | |
| Rent, mortgage downpayment, mortgage interest | 0% |
| Ancillary costs and house insurances | 100% |
| Maintenance costs, renovations, furniture and household appliances | 0% |
| Total housing costs | 100% |
| Private expenses | |
| Health insurances | 34% |
| Doctor’s fees, medication | 0% |
| Body care, haircut | 2% |
| Food | 11% |
| Transport costs (car expenses, public transport) | 11% |
| Clothing | 0% |
| Television, Radio, Internet, Telephony | 0% |
| Holiday and holiday insurance | 5% |
| Restaurant and going out | 4% |
| Sports and leisure | 0% |
| Education and Books | 19% |
| Other expenses | 14% |
| Total private expenses | 100% |
| Earnings | Percentage |
| Salary | 100% |
| Other income | 0% |
Transformed into the savings rate table:
| % of GI | % of NIATH | |
|---|---|---|
| Gross income (GI) | 100% | |
| Social security | 11% | |
| Net income (NI) | 89% | |
| Health insurance | 5% | |
| Tax | 30% | |
| Net income after tax and health insurance (NIATH) | 54% | 100% |
| Rental (or Mortgage interest rate, monthly downpayment) | 4% | 8% |
| Net income after tax, health insurance and rental (NIATHR) | 50% | 82% |
| All other spendings | 10% | 18% |
| Savings (Savings rate) | 40% | 74% |
- Housing costs: Rent or mortgage interest is charged quarterly, so this item is low in January. This month’s costs make up the insurance for the house.
- Health insurance: Health insurance is charged every 2 months. This always starts at the beginning of the 2-month period.
- TV, radio, internet, mobile: I don’t have TV, I don’t need radio and internet is given as a gift this month (credited by new customer acquisition). The mobile subscription is prepaid and currently enough credit on it.
- Travel: No trip incurred, but the travel insurance for the whole year was due.
Otherwise, there is nothing worth mentioning this month.
So, keep up the good savings habit and let’s continue like this.
On a chart, this looks like the following for the first month:
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