My Financial Independence Journey: Monthly Update #22 (October 2018)

Financial independence
Friends,It’s time for a monthly update – and September was a great month although the financials wasn’t impressive. However, an important milestone was reached: I am now a half-millionaire in Danish kroner, which is quite cool given that I had 138,000 DKK when I first measured my net worth in January 2017.

Personal life: What happened in September?

Work has unfortunately been all-consuming in the past month meaning that I have had little time to do much else.I have managed to keep up blogging, but only just, and as you will notice this post is also late.I am doing quite a bit of traveling at the moment, which means that I am not home as much as I would like to (and I spend too much time in airplanes).On a more positive side, we are getting very close to our mini-retirement in November, which we are looking very much forward to! We will be having some months totally off work including a few weeks without phone and computer, which I am super excited about. We plan on reading many books, swim in the ocean daily, and spend some time discussing our future in terms of especially work and family.

Financials: How am I tracking on my early retirement goal?

For two months now I have promised you a combined insight into my wife’s and my combined finances, however, our new bank has been really slow with merging our accounts, so it hasn’t been possible yet. You will see that our combined net worth will increase, but we might have a slightly smaller savings rate than our target above 50%.In September, I had a positive savings rate of 28% this month (up from 35% last month). The main reason for this was that we had to pre-pay quite a few things for our mini-retirement.MoneyMow savings rate over time (%)
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My take-home income was 34,531 DKK (5,755 USD) and I managed to spend 24,820 DKK (4,137 USD) resulting in the 28% savings rate excluding income from the blog.My 12-month rolling average savings rate is still at 34% this month.My net worth increased a good deal this month to above the important milestone of half a million DKK with mixed investment returns.

My total assets including pension of 505,058 DKK (83,375 USD) is an increase of 2.3% compared to last month’s net worth.This means that I am now 11.2% of the way towards my early retirement goal of a net worth of approximately 4,500,000 DKK (750,000 USD) up from 11.0% last month. Many of you have asked me about this number, and once I will post the combined update with my wife, you will see the number and the way I use it change.Investments were fairly OK this month, although cryptocurrencies tanked again and the stock market was relatively flat. Peer-to-peer lending through Mintos just keeps on delivering and I now have all of my investments in +10% annual return before taxes again.

Blogging: How did income and key metrics develop on MoneyMow?

MoneyMow had another great month in September and kept growing slightly compared to the month before, although earnings were lower than previous months.My income on the blog for September was:
  • Affiliate programs: 677 DKK (113 USD)
  • Sponsored posts: 491 DKK (82 USD)
  • AdSense: 100 DKK (17 USD)
The total blog income for September was 1,268 DKK (211 USD). This is a decrease from last month’s income of 2,724 DKK (454 USD). I expect to spend some time in the coming months to figure out how I can better monetize the blog without it becoming too spammy or untrustworthy 🙂The metrics broke records again – and I can already now say that October looks really good so far too. Here’s the numbers from September:
  • Visitors: Number of visitors were 4,619 and grew with 11% compared to last month
  • Page views: Page views were 11,397 and grew with 6% compared to last month
  • Facebook likes: Facebook likes are at 2,595 up from 2,468 last month
  • Twitter followers: Twitter followers are at 904 compared to 896 last month – quite slow growth on this channel
  • Newsletter growth: The number of people following my newsletter continued rising this month with 8% reaching 190 subscribers

Favorite posts of the month

My favorite posts of the month were:
  • Tread Lightly, Retire Early started a new ‘Women’s Personal Finance Wednesday Roundup‘, where she will feature women’s voices in the personal finance sphere – I think there’s way too few female PF bloggers and they often get too little of the attention, so this is a great way to make them heard.
  • Young FI Guy wrote about the three levers of personal finance. I like the way of thinking about the three levers as three different ways to achieve financial independence – if you cannot pull one of the levers, make sure to pull the other two harder.
  • Mr W from What Life Could Be is FI and wrote about one of the things he is doing to make the world a better place. I think his waste project is an excellent example of what FI can lead to and I aspire to spend more time on projects like that myself when I have the time.
That was all I had for September! Thanks for reading all the way through this update.See you next month!Onwards, Carl


Mohammed October 18, 2018 - 07:37

Spending time with little to no tech sounds interesting. As you know I am a massive proponent of that.

Well done on crossing the half a million goal! I’ll be looking to increase my net worth too, post-mini-retirement.

Carl October 18, 2018 - 21:08

Yes, I’m inspired by you doing this – hope it’s not going to be as hard as I imagine 😉

The Beta Post October 13, 2018 - 20:41

Congratulations on making it to half a million! The snowball will just keep on rollin, and soon you’ll be a DKK millionaire 😉

I see that your affiliate program generate a well deserved cash flow to you. But I don’t see that many affiliate links on this website? I’m I blind, or could you elaborate what kind of programs these are? Pardon my curiosity 🙂

Carl October 14, 2018 - 21:57

Thanks, TBP! Yes, I’m looking forward to seeing the nsowball rolling 🙂

I haven’t at all ventured into affiliate yet, so I only promote Mintos so far. I am looking into other products, but I only want to promote things I genuinely believe in.

Angela @ Tread Lightly Retire Early October 8, 2018 - 18:10

Hey thanks for the shout out to my new series! There are quite a few more women bloggers out there than a lot of people realize, and I’m hoping I can use my platform to regularly showcase some of the best 🙂

Carl October 8, 2018 - 22:03

Yes, there’s many cool women bloggers out there! 🙂 Looking forward to following your weekly roundups!

Søren October 7, 2018 - 21:29

Hey Carl
Are you willing to share your spreadsheet tracking your investments?
Scraped from your own numbers of course 🙂

Thanks for a great blog, Søren

Carl October 8, 2018 - 21:57

Hi Søren,

That’s a really good idea. I have actually thought about making a spreadsheet that people can use and make it available on the site. I’ll have a look at it in November and share it after that 🙂

Thanks for following!


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