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1. 

   setiramisu
   

   Novice
   Joined: Jul '11
   Posts: 15

   Hi, I would like to join the fun here and post my numbers. :)

   I am 31 y.o. female engineer working in the semiconductor-related industry in the Netherlands (non-native, but has studied and lived here for more than 5 years now).

   I have been in my current employer for 9 months now. It was only last month that I started tightening my belt and looked closely at my finances. The first 7 months of my earnings here were mostly spent rather recklessly (which is a bit uncharacteristic of me, but due to emotional trauma - I just wanted to live my life in a "carefree" mode - retail therapy, food indulgences, some travel, going out, etc.).

   Now I am back to my senses again, and my goal is to reach financial independence before I turn 40. I see myself having a child / or children before 40, so that is also a consideration.

   Starting this month, this is my typical in-and-outs (in euros):

   2146 net income

   expenditures:
   300 rent+utlilities+groceries
   384 transpo*
   40 eat out, on the go
   171 health insurance,phone bills,bank fees,etc.
   21 gifts, leisure
   916 total

   1230 net

   43% spending rate

   *transpo at this moment is non-negotiable due to personal circumstances but I see that also changing/disappearing in my budget in the coming months.

   In this case I can save ~50% of my income. At the rate I am going it appears that I cannot reach FI in 9 years. I still have to work out the concrete numbers though.

   I am looking for other source of income (menial jobs mostly, I would like to improve my hands-on skills, or just do something physical - e.g., fruit picking?). I would like to set up a distribution / supplier business in the future.

   I am not sure what can kind of advise I am looking for, the ERE blog already contains full of those fantastic tips (thanks Jacobs and all of you). I guess I just have to put them into action. But if you like to drop a line or two, please do comment below.

   Thanks. :)

   Posted 1 year ago #
2. 

   tjt
   

   Journeyman
   Joined: Mar '11
   Posts: 127

   Welcome to the club!

   It looks like your expenses are pretty low in most cases, the transportation expense is a real killer though. I think as long as you see that going away soon, you should be in good shape. Just curious, do you mind sharing why it's so high?

   I'm in engineering as well, and my experience is that you can get a higher ROI with your time by working more/harder for raises and promotions rather than more time in a second income. It may be different in your situation and/or just not worth it to you. For me it was worth it, I got massive raises from 21-30 and now I sit with a very high income without having to still work so hard.

   Good luck!

   Posted 1 year ago #
3. 

   setiramisu
   

   Novice
   Joined: Jul '11
   Posts: 15

   Hi tjt! Thanks for taking the time to comment on my first post. :)

   The cost of train ticket in the Netherlands is pretty high and in my case - 376 euros monthly for travelling 100 km or more. The only bonus is that with this monthly ticket I can do (unlimited) travel to anywhere in this small country.

   Workers here get some travel allowance from their employer and also some tax rebates, but not true in my case. I am temporarily boarding up somewhere far from work (that is why my rent+utilities+groceries is low).

   I am an entry level applications engineer so I am not sure yet about my career options within this company. At this point, working hard more for raises/promotions is also a viable option. :)

   Posted 1 year ago #
4. 

   McTrex
   

   Apprentice
   Joined: Jul '10
   Posts: 62

   Hi setiramisu!

   I live in Holland as well, but I'm a native. Regarding the train costs...why don't you buy a small efficient car to take advantage of the current tax breaks? I used to drive a big lease car from my employer, but I've switched to a Volkswagen Lupo which costs me ~300 euro/month for ~25000 km/year. You can have a new basic small car for ~8000 euro or so.

   I can choose to go to my customers by car or by train, but if I look at fuel costs alone, the train ticket is three times as expensive, it's ridiculous.

   Posted 1 year ago #
5. 

   setiramisu
   

   Novice
   Joined: Jul '11
   Posts: 15

   Hoi McTrex! Dankjewel for the response. :)

   I do not have a driver's license - was taking driving lessons but stopped recently, it is rather expensive here. Yes, at 31 but this is not uncommon from where I come from. :)

   Posted 1 year ago #
6. 

   McTrex
   

   Apprentice
   Joined: Jul '10
   Posts: 62

   Yes, lots of things are expensive here, houses, trains, driving licenses...

   Let me guess...you're in the Eindhoven area?

   Posted 1 year ago #
7. 

   setiramisu
   

   Novice
   Joined: Jul '11
   Posts: 15

   Yes, I work in Eindhoven area. :) Are you familiar around here? How about you, from which part of NL are you?

   Posted 1 year ago #
8. 

   McTrex
   

   Apprentice
   Joined: Jul '10
   Posts: 62

   I've worked in Den Bosch for about 4 years, have lived in Gouda all my life. Eindhoven wasn't difficult to guess as that's where Philips, ASML, NXP, etc are :)

   Posted 1 year ago #
9. 

   Maus
   

   Master
   Joined: Jul '10
   Posts: 504

   Just wanted to say that I love the Netherlands. My brother-in-law is from Amsterdam and introduced me to all things Dutch. I never would have guessed that salted licorice could be so tasty. I'll never forget that the first place I stayed in Amsterdam was built in 1636. For an American, that kind of tangible history is just mindblowing. Especially for a Californian, where buildings pre-dating the 20th century have nearly all been destroyed by the earthquakes.

   Posted 1 year ago #
10. 

    McTrex
    

    Apprentice
    Joined: Jul '10
    Posts: 62

    Thanks Maus :)

    Dutch people love to feed foreign visitors licorice, to see the look on their faces ;)

    Posted 1 year ago #
11. 

    setiramisu
    

    Novice
    Joined: Jul '11
    Posts: 15

    After a year of lurking here, I would like to update my journal.
    I am turning 33 next month, living alone.

    My typical monthly in/outs (in euros)

    Income: 2200

    Rent: 550
    Food: 200
    Gym: 65 (employer will reimburse 27 at year end)
    Iphone: 40
    Fun money: 50
    Family support: 200
    ===============
    Total expense: 1105 euros per month

    Savings rate=50%

    Savings: 50,000 euros

    My actual expenditures the past 7 months have been erratic due to several trips abroad (2 business trips, 2 family visits/holidays, 1 cancelled holiday where the return flights have been paid for and an urgent but very long trip back home for death in the family.

    Rent is a bit low for the (whole) house I am staying in - it is subrented from a couple who is on round-the-world trip. When they get back in 2 months, I will look for a shared accommodation. For now I am enjoying living alone and I am paying a premium for that.

    Food is usually from the work canteen (they serve nice warm meals for 4.65 per set only - that already includes e.g., steam fish dish, variety of side dishes/salads). I am also a sucker for desserts (cup cakes, anyone). Normally I take 1 warm meal a day and the rest of the time I eat some salad. I try to do window fasting by skipping breakfast most of the tim.

    Gym membership may not be ERE but I'd like to think that I get high value from this. I can go to the wellness center everyday if I want to (sauna, steam bath, heated swimming pool, and outdoor terrace), as well as to all the gym classes I like: yoga, zumba and body pump. I like the energy in the gym. But now I am also training for a 5km fun run.

    My phone subscription is more than 1 year now. I have love-hate relationship with my phone. I love it because it was with this phone that I was able to come upon the whole ERE philosophy community and able to read a lot about it. I hate it because I have internet/information addiction, a real time pit.

    Fun money includes going out for dinner with colleagues and friends (not often - once in 2 months?), going out with a group to do kayaking, hiking, etc. I enjoy every cent of it.

    Family support includes paying for sending a sibling to college, ocassional gifts, etc. I take pleasure in helping out my family and this is something I like to do, rather than obliged to do. I am looking to start a business to fund this "calling", for self-sufficiency.

    I have some 50,000 euros saved back in my home country (20k in stocks (losing at the moment) and the other 30k in residential lot properties (no earnings but appreciating values).

    So it appears that at this point I am striking the balance between expenditures and value I get from it. However --- my work contract is ending very soon and I am planning to do some regrouping to assess my career and reflect on the had beens and plan for the next steps. It might be difficult to find a new job with the level of motivation I have now - then I might live off from unemployment benefits briefly if it comes to it.

    Posted 8 months ago #
12. 

    setiramisu
    

    Novice
    Joined: Jul '11
    Posts: 15

    Sept 2012

    Income 2237€
    Expenses 1109€
    Savings rate: 50.5%

    Breakdown of expenses, in €
    House rent + utilities 547
    iphone 51
    gym 65
    food(canteen, groceries, restaurant) 276
    social (entertainment, meetup, gifts) 106
    shopping (new harddrive backup) 64

    It was a good month, my savings rate is above 50%, so I am happy with that. That means I need to work 10-15 more years before reaching FI.

    I got a new job, yihey! Increased salary of around 60 euros, not bad at all! But the prospects are big!

    The month of October will be an expensive one, because I will host 2 parties to celebrate my birthday and my new job - total cost is estimated around 500€. Also I treated a friend for dinner which costs me 55€. Then I bought a new flatiron at 64€. The rest I will just stay here in Eindhoven and enjoy what is here to offer. No eating out, no drinks out for this whole month, and no shopping anymore! I've got enough stuff.

    Goals in Q4 2012:
    -Get rid of unnecessary possessions
    -Find a house to buy (my rental contract ends in Feb/March 2013) or a room to rent.
    -Read more books
    -Do more exercise
    -Follow a primal/paleo diet
    -Work hard
    -Play harder
    -Save some more

    Posted 7 months ago #
13. 

    setiramisu
    

    Novice
    Joined: Jul '11
    Posts: 15

    I turned 33 in the month of October and I threw 2 big parties to celebrate life, love and friendships!

    Posted 6 months ago #
14. 

    C40
    

    Master
    Joined: Feb '11
    Posts: 573

    Happy birthday!

    Posted 6 months ago #
15. 

    setiramisu
    

    Novice
    Joined: Jul '11
    Posts: 15

    Update to September expenses:

    shopping:
    correction 6€ (the price was 70€, not 64€ as indicated earlier)

    total shopping 134€
    gift 16€

    total expenses:1131€
    total income: 2237€

    savings rate: 49.4%

    Posted 6 months ago #
16. 

    setiramisu
    

    Novice
    Joined: Jul '11
    Posts: 15

    October 2012

    The month of October has been terrible financially, I lived way beyond my means! But I would say I enjoyed a lot during the 2 parties I threw to colleagues and friends, and I do not regret it at all. What I regret though is having bought a 42" inch flat tv.

    I said I was not going to buy stuff but I did! Yes I gave in to consumerism and right now I am still trying to justify this rather impulse TV purchase. I hope that in the long run I would find this a good buy - I like watching documentaries, recorded concerts, and follow exercise videos and do karaoke with friends, and a flat tv is useful for that. I bought a Philips 42PFL7606 TV for 629€ and I don't know for how much I could sell it right now and if I really really want to keep it.

    Anyways here are the numbers:

    Expenses:
    rent+utilities 322€
    gym 65€
    iphone 46€
    rebtel 23€
    extra insurance+bank charge 30€
    gifts/donation 30€
    food/grocery 204€
    debt servicing* 123€
    socials/meetup 88€
    2 parties 461€
    family obligations** 506€
    shopping*** 807€

    Total expenses=2705€
    Income=2190€

    Deficit: 515€

    Savings rate: -23.5%

    I hope this month of November will be much better. :) I wanted to do a no-shopping month, but I have bought some stockings (hey, it is a necessity!) for 4.50€ (1 box contains 4 pairs) from Hema.

    On the other hand, I received lots of gifts at the party and it includes some gift certificates and some items I would not buy for myself but glad to receive them anyway! I'm grateful for my friends.

    =======
    * I took a loan in July for private emergency reasons but returned it at this interest.
    **family obligation is not regular, nor a one-time event
    ***breakdown for shopping (tv-629€; mic-18.5€; makeup-91€; flatiron-64€)

    Edit: also included in the shopping expense is the interesting book of riparian! That costs me 4.52 euros but it was entertaining so well worth it)

    Posted 6 months ago #
17. 

    anomie
    

    Journeyman
    Joined: Apr '12
    Posts: 215

    Hi - good luck with reducing your expenses!

    What are areas you are hoping to reduce expenses in ?

    Posted 6 months ago #
18. 

    m741
    

    Master
    Joined: Jan '11
    Posts: 733

    Better luck next month! 91 euros seems like a lot for makeup, but maybe I just don't understand how makeup works :).

    Posted 6 months ago #
19. 

    setiramisu
    

    Novice
    Joined: Jul '11
    Posts: 15

    Hi anomie, thanks for your comment. :-)

    This month there should no longer be big ticket purchases.
    And no more parties. Just simple dinners/drinks at home with friends. (I got invited a few times in the past. Now my turn).

    But I am afraid I will still have to send something for my family back home (am paying my bros college education). I'm thinking of resuming the small piggery business soon to provide for this.

    Also debt servicing, due to a mess with my salary this month (new job) I will miss paying my credit card bill and will have to pay late charges.

    iPhone subscription contract will end in may 2013. Then I will make do with compant-issued mobile phone.

    I'm thinking of cutting my gym subscription but I enjoy going there and more motivated. So let's see.

    Food budget has to go down to 150/month and even lower.

    Socials include 3 dinners out. So this month should be none, nil, nada.
    Meetup hiking/adventure activities I will keep (share fuel costs and the mandatory coffee/tea afterwards).
    My trick when I go out at night is not to order drinks. I'm not big on alcohol, so that's good.

    Gifts stay as well, tax in relationships they say.

    I anticipate international trips in November and December for work and vacation. And perhaps wintersports in Feb/March. So my expenses will still be inevitably high. But well, live a little! ;-)

    PS. This month I cut losses in 2 badly beaten mining stocks. I lost almost 1000 euros in that sale. But am reinvesting in solid company stocks now.

    Posted 6 months ago #
20. 

    setiramisu
    

    Novice
    Joined: Jul '11
    Posts: 15

    Hi C40! thanks for the greetings!

    Hi m741! Indeed 91 euros was a lot for make-up.
    The last time I bought a set was in 2009.

    My make-up purchase included a branded lipstick and blush-on (67 euros), they are of good quality from dior.

    For the remaining 24 euros I bought cheap generic items: 3-color eye shadow, another blush-on, mascara, lash curler, eye liner and actually includes 2 replacement brush heads for my electric toothbrush.

    I really have to work on lowering my expenses to bare minimum.

    Posted 6 months ago #

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