Frugal chicos journal - ERE in The Basque Country

Where are you and where are you going?
Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@Nicolino
Yeah…long hours at work compounded with pandemic have helped to drink 1-2 more beers than usual.

@Seppia
Thanks for the recommendations! I read most of them. But I will definitely download I am Legend, Fharenheit 451 and Brave New World. The ERE book…isn’t that a cooking book specialised in lentils soup? :D

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

AUGUST INCOME –$10,823.18

AUGUST EXPENSES – $3,589.14
- Rent: $1,150
- Groceries: $542
- Cellphones: $0 - both chica and I are using our work phones.
- Electricity: $43.74
- Internet: $66.40
- Misc./Entertainment: $401
- Day care: $1,386

CURRENT ASSETS: $774,210 ($19,885.08 increase from last month)
Cash savings: $23,343
Investments: $569,991.43
Chico’s 401K: $2,178.78
Chica's 401K: $10,361.51
HOUSE EQUITY: $168,335

We saved 66.84% of our income

ACHIEVEMENTS/HAPPENINGS THIS MONTH:

- We were close to our budget of $400 groceries an $300 miscellanious. We might have spent more because of a couple times we went out for picnics and such. YOLO
- We finally got the construction permit for our condo in The Basque Country! woohoo! and we will be able to renovate it the way we wanted. We are changing the floor-plan completely. I feel having secured our house for such a low price is a milestone in our future financial success.
- We rented the parking spot in The Basque Country to a different guy for $95/month. Enough money to cover HOA for our condo, parking spot and leave $20 extra.
- Mini chica had to be quarantined for 2 weeks. It was pretty hard working and taking care of her at the same time... She did watch a looot of Peppa pig
- Chica started running. Her goal is running 3 times a week, 3 miles each time she runs.
- My running is great, I run 7 miles on Tuesday. Run 3.5 miles, jumped in the lake, run 3.5 miles back home feeling like 1 million bucks
- I read The Kite Runner and I Am Legend. Both amazing books. Thanks Seppia for the recommendations. I am reading Walden now...I don't do great with books written in "old English". It takes me a great effort to actually be engaged and enjoy those books. I experienced the same feeling with The Great Gatsby and The Picture of Dorian Grey.
- We feel we are in automatic saving mode, crushing it and all that. However, due to work, we have great weeks and challenging weeks. We need to focus in having fun and enjoy as much as we can.


Have a great labor weekend y'all!!!
Last edited by Frugalchicos on Thu Sep 02, 2021 8:11 pm, edited 1 time in total.

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Some pics of the before of the condo...the haunted house!
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guitarplayer
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Re: Frugal chicos journal - ERE in The Basque Country

Post by guitarplayer »

Wow, did you then do it up yourself or rather hired someone to do it?

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@guitarplayer

My cousin will be coordinating all the contractors. She does that for a living and knows what she is doing. Besides, it is a wooden building from the late 1800s right by the city hall and I need a permit where actual professionals and an architect are doing the job. I could get easily in serious trouble if something goes wrong or is not done properly.

Also, living in the US, I don’t have time to do it myself and I don’t feel like experimenting with construction during my vacation time in my future home. I rather leave it to professionals…I need to gut the entire place, change plumbing, electricity, layout is changing, the wooden beams need to be treated…a long list of stuff that I will happily pay for.

guitarplayer
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Re: Frugal chicos journal - ERE in The Basque Country

Post by guitarplayer »

Ah sorry! Somehow from reading parts of your journal I had it in my mind that the work on the condo has been done already. Sounds like you have a good plan in place for getting it habitable. Is it Bilbao?

P.S. The cross on the bed looks rather spooky, but I would personally keep the bed frame, vintage!

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@guitarplayer
Yes! In the beautiful Bilbao (actually, outskirts, by the ocean).

Buff, I thought about keeping some stuff but the house has been empty for 37 years and everything is disgustingly dusty and full of termits…

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

SEPTEMBER INCOME –$10,956.1

SEPTEMBER EXPENSES – $3,599
- Rent: $1,150
- Groceries: $601
- Cellphones: $0 - both chica and I are using our work phones.
- Electricity: $48.23
- Internet: $66.40
- Misc./Entertainment: $450 ($95 annual credit fee, some clothes for mini, lunch date, etc..)
- Day care: $1,283

CURRENT ASSETS: $768,221.66 ($5,988.06 decrease from last month)
Cash savings: $26,940.5
Investments: $557,710.10
Chico’s 401K: $2,688.26
Chica's 401K: $12,547.8
HOUSE EQUITY: $168,335

We saved 67.15% of our income

ACHIEVEMENTS/HAPPENINGS THIS MONTH:
Not much going on this month...
- Construction finally started in our condo in the Basque Country. Every wall has been knocked down, electricity and plumbing go next. Very excited about it!
- Goal for next month: we can be more conscious about our expending in groceries. To be honest, we eat every single meal at home and diapers, toiletries, etc are included in our grocery expenses
- I run a half marathon with my brother in law. We didn't run any organised race. We just set a date and run 13.1 miles in 1 hour and 56 minutes. It felt amazing.
- We feel we had created a great community in Chicago. We made very good friends at the park where mini goes to play after daycare. They all are super nice and friendly people who are on the same phase of life as us. I went out for a couple of beers with the dads last night.
- I have been reading the ERN withdrawal series this month. I also started an excel sheet designing our withdrawal plan for when we are retired.
- I read Man's Search for Meaning, A Guide to the Good Life and I am currently reading How to Be Idle (it makes me feel like drinking and taking naps all the time)
- I have been approached by a Spanish company to consult and help them out figuring out their logistics in the US. I think it could be interesting and a good extra income. Lets see how it develops.
- Chica and I talked about the what ifs...One of my fears is having to delay the retirement deadline because there is a crazy dip in the stock market...Even though we are planning in having cash savings to sustain 4 years of expenses in Spain, the potential situation is still scary. I try not to worry about potential issues, but I still like to be mentally and financially prepared for it in case it actually happens. I think we would do alright having a good base like a paid of house, good savings and most importantly, low expenses and adaptability. However, I know myself and I would probably consider staying in the US making money for one more year.

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Bankai
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Bankai »

Frugalchicos wrote:
Sun Oct 03, 2021 3:42 pm
One of my fears is having to delay the retirement deadline because there is a crazy dip in the stock market...
As the stock market goes down, SWR goes up - there's a table somewhere in ERN's series showing how SWR goes up based on SP500 being at various %ages off its all time high. Reading 'Die with zero' might help combat the urge to achieve the (unachievable) 1000% safety.

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@bankai

Thanks, saw that. We are actually striving for a 1.8 - 2% SWR. In regards to feeling safe, I think it is more a mental exercise than a financial

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Finally have some time to do our monthly update!

OCTOBER INCOME –$10,986.22

OCTOBER EXPENSES – $3,936
- Rent: $1,150
- Groceries: $509
- Cellphones: $0 - both chica and I are using our work phones.
- Electricity: $29.86
- Internet: $66.40
- Misc./Entertainment: $708 ($100 CC Membership annual credit fee, some clothes for mini, $100 flight to Mexico, $100 mini chica medical expenses..)
- Day care: $1,473

CURRENT ASSETS: $798,5490.66 ($30,328 increase from last month) - NW as of 11/3
Cash savings: $27,093
Investments: $584,972
Chico’s 401K: $3,471
Chica's 401K: $14,678
HOUSE EQUITY: $168,335

We saved 64.17% of our income

ACHIEVEMENTS/HAPPENINGS THIS MONTH:
- Well this month has been pretty busy. I got a second job as a consultant for a Basque company that wants to import into the US. They will pay me 50E/hour and I will probably have to put like somewhere between 2-4 hours a week. Not a bad gig
- I have been really busy at work and I need to remind myself to not take it that seriously
- We finally got the paperwork and permit done for the electricity in our condo in the Basque Country. Things are moving along. They already demolished everything and the architect checked all the beams and made sure they are all healthy and free of termites. I am very excited about the condo and the set up we are building for future
- Next Tuesday we will close down on the purchase of a storage room. We bought it for 7,900E. It is really close to our condo, has easy access and parking area and will be great to store bikes, mountain gear and surf boards.
- Chica is doing some CC engineering and she was able to get us basically a free trip to Mexico for April. we only paid $100 total for tickets. Very excited to travel somewhere else in the American continent. And very excited to be at the beach when it is still snowing in Chicago.
- Mini chica is being a real challenge...the terrible 2 are totally true. I think 1 kid is the "perfect" equilibrium. You are a parent and have offspring, but your life is not total madness and open to endless possibilities for things to go crazy
- Chica did a clean up in her office and got a ton of stuff. Ipads, Laptops, speakers, everything...We will make a fortune on eBay.

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Nicolino »

Exciting! Where are you guys going in Mexico? I only visited the Mayan Rivera and absolutely loved it

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@Nicolino

Hi there friend! We are going to Cancun. I have never been anywhere else in the American continent but in the US.

Very excited to go to an all-included hotel where I can relax and play with my daughter.

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Some pics of the condo that I meant to post before. We are seeing progress!!
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Seppia
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Seppia »

Frugalchicos wrote:
Sun Nov 07, 2021 9:55 am
Very excited to go to an all-included hotel where I can relax and play with my daughter.
If you’re one of those like me who can’t stay all day at the beach but needs to do something, this could be a great opportunity to take your PADI certification (scuba diving).
Not so expensive in Mexico and opens up a new world to discover.

Nicolino
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Nicolino »

Frugalchicos wrote:
Sun Nov 07, 2021 9:55 am
@Nicolino

Hi there friend! We are going to Cancun. I have never been anywhere else in the American continent but in the US.

Very excited to go to an all-included hotel where I can relax and play with my daughter.
That's awesome! Be sure to make some time to visit Chichen Itza and Tulum. Both are amazing, Chichen Itza is bigger, but the placement of Tulum right besides a tropical beach made Tulum surreal to me. You are gonna love it.

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Seppia
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Seppia »

Nicolino wrote:
Mon Nov 08, 2021 4:11 am
That's awesome! Be sure to make some time to visit Chichen Itza and Tulum. Both are amazing, Chichen Itza is bigger, but the placement of Tulum right besides a tropical beach made Tulum surreal to me. You are gonna love it.
100% agree
and don't miss jumping into a cenote.
these are among the few "touristy" things that I believe are worth doing at least once in a lifetime*

*visiting Venice is #1 on the list: overcrowded, expensive, too many souvenirs shops but so amazingly unique and beautiful

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@Seppia @Nicolino

Awesome recommendations guys. I will definitely look into it. Agree that after a day sitting around I would like to see new and exciting things.

Thanks!

Nicolino
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Nicolino »

Seppia wrote:
Mon Nov 08, 2021 10:01 am
100% agree
and don't miss jumping into a cenote.
these are among the few "touristy" things that I believe are worth doing at least once in a lifetime*

*visiting Venice is #1 on the list: overcrowded, expensive, too many souvenirs shops but so amazingly unique and beautiful
I did the Cenote thing as well. It was really amazing. I stayed at the Club Med, so fun!! Lot´s of activities: it´s own reef for snorkeling, training catamarans, the beach bar. The trips to Isla Mujeres and Cozumel were also fun. I really didn´t have much expectations for Cancun, but we had a blast. We didn´t go to Xcaret though

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Time for an update Team:

NOVEMBER INCOME –$11,7808

NOVEMBER EXPENSES – $5,043.04
- Rent: $1,150
- Groceries: $586
- Cellphones: $0 - both chica and I are using our work phones.
- Electricity: $25.15
- Internet: $68.89
- Misc./Entertainment: $1,740 (Paid some CC Membership annual credit fee, we both went on a spending spree for clothes, bought a Christmas tree, joined a gym, had to buy some stuff for the condo in The Basque Country)
- Day care: $1,473

CURRENT ASSETS: $785,883 ($12,666 decrease from last month)
Cash savings: $16,741
Investments: $571,593
Chico’s 401K: $4,288
Chica's 401K: $15,678
HOUSE EQUITY: $177,383

We saved 56.92% of our income

ACHIEVEMENTS/HAPPENINGS THIS MONTH:
- We sold a ton of stuff on ebay. We made $1,753
- We finally joined a gym. I was missing some activity in my life, my mood and positivity were decreasing.
- We signed up for the Marathon in Chicago next year. Excited to get super fit
- There has been a lot of advancements in the condo renovation. They are already raising the floor (all the heating pipes, electricity and pipes go below it and they need to level it. Next step is treating the wood beams, pillars and ceiling and then they will start framing for the walls.
- We are rebalancing our investments to 90-10%
- We are both taking the booster on 12/12 and will probably start reducing our contact with people in order to avoid a contagion before we travel on 12/28 to The Basque Country.

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