Our Financial Independence Journey: Monthly Update #31 (July 2019)

Update 31


July is over and I’m ready to give you my monthly update for the 31st time! Time flies πŸ™‚

Personal life: What happened in July?

Last month has been slow in the MoneyMow household.

My wife is on maternity leave and I had a whopping four weeks of summer vacation. It was AMAZING!

We decided to spend the summer in Denmark. Who needs to travel abroad when Denmark is at its best during summer?

We spent days relaxing, taking long walks, visiting friends and family – and eating out more than we used to.

Our spending went up on restaurant/cafΓ© visits, but we almost didn’t buy any personal items or furniture in that period.

I received a small bonus which we used partly to invest and mostly to renovate a room in our apartment. This also caused a slightly lower savings rate for the month. Hopefully, we’ll get this back once we sell the apartment.

As I teased last month, I have some news on the job front. After becoming a dad, I have decided to quit my job. Boom!

Being a management consultant is an exciting job, but it is not aligned with the kind of dad and husband I want to be. There’s a lack of predictability and lots of travel, which doesn’t go well with the type of calm and nice family life I prefer. I decided to make the decision now and not when it really could become a serious problem.

So what am I going to do? Which income will fuel our way to financial independence?

To be honest, I don’t have a new job yet, but there are a few things cooking. Hopefully, I can share more about this next month πŸ™‚

Financials: How are we tracking on our FI goal?

July was another great month financially.

We managed to get a savings rate of 33%, which was decent. To be fair, if we hadn’t renovated the room in our apartment, the savings rate would have been 73% because of my bonus.

Our combined take-home income was at 93,437 DKK (14,375 USD) and we managed to save 30,512 DKK (4,694 USD) resulting in the 33% savings rate excluding income from the blog.

Our savings excluding the renovation would have been 68,012 DKK (10,453 USD). We expect to get the “lost savings” back when we sell our apartment, but we don’t include it in our real estate net worth yet.

Our net worth increased significantly this month once again. Our savings were part of that equation, but also my pension investments and apartment increased in value:

Our total combined net worth is 2,649,416 DKK (407,602 USD), which is 2.0% higher than last month. Our assets are mostly illiquid, but our liquid assets are growing faster:

Investment returns for the month were good, although stocks remained flat.

Pension increased with 2.4% (excl. employer contributions).

Stock indexes remained flat with a -0.2% decline after a strong increase of +7% last month.

Bonds declined slightly with -0.2%. I am losing money on this investment every day because of inflation, so I am seriously considering whether it is worth it.

Crowdlending increased with 0.8% with my average returns going up slightly.

CryptocurrenciesΒ had a rough month with a decline of -29.8% after a few strong months.

All our three financial independence goals increased this month.

For the first goal, we are now more than halfway with 54.3% (up from 53.6% last month) of the way towards having three years’ expenses in savings.

For the second and third goals, we are 36.5% (up from 36.0% last month) of the way towards reaching our optimistic financial independence goal and 9.4% (up from 9.2% last month) of the way towards reaching traditional financial independence.

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

Traffic on MoneyMow has declined slightly this past month with small fluctuations. I have some way to regain the traffic I lost after my site was attacked, but hopefully, it will come at some point.

The metrics last month were:

  • Visitors: Number of visitors was 6,055,and decreased by 5% compared to last month
  • Pageviews: Pageviews were 9,040 and decreased by 10% compared to last month

It’s still a lot of people visiting my blog, so I’m not complaining at all πŸ™‚

Favorite posts of the month

My favorite posts of the month were:

That’s it for this month. I hope you’ll have an awesome August!




FinanceFreedom.eu August 9, 2019 - 10:27

Interesting thought.

In the old days when people got fired or lost their jobs, it was a horrible thing. Whole worlds fell apart.
Nowadays people quit 8-5 jobs with ease and still live well.

Love what you do Carl! Keep up the good work.

Carl Jensen August 9, 2019 - 22:04

Thanks for the kind words – and true story! I believe it’s one of the first times I have actually experienced what some sort of FU money feels like. This is why pursuing FI makes so much sense!

Financial Nordic August 8, 2019 - 10:40

Good summary, thanks!
Blog stats tend to go down little bit during summer months, as people are not spending that much time online when it’s sunny outside. I’m sure that you’ll regain the “lost” traffic!

– Financial Nordic

Carl Jensen August 8, 2019 - 22:42

Good point! I hope that’s the case here πŸ™‚ did you experience something similar?

Financial Nordic August 9, 2019 - 09:58

Since I launched my blog in May, I have been only growing my blog traffic, even during the summer months. But I read that summer months are usually more quiet.

Carl Jensen August 9, 2019 - 22:03

Makes sense! Looking forward to following your blog πŸ™‚

Financial Nordic August 10, 2019 - 19:28

Actually, you might see your blog mentioned in the next post (about blog traffic and blog income) πŸ˜‰

Carl Jensen August 15, 2019 - 19:32

Thanks so much for mentioning my site πŸ™‚

Janis @ investingsmall.eu August 7, 2019 - 14:49

Hi Carl,

congratulations on quitting, it is always a good thing πŸ™‚
A-kasse will do for now.
It is interesting to find somebody in relatable situation online.
May I ask what is your reasoning behind not publishing the blog income? I know it is a debatable question but I would like to know your subjective opinion.


Carl Jensen August 8, 2019 - 22:41

Thanks, Janis! πŸ™‚ It has definitely been an interesting experience.

Yes, of course. I stopped publishing it because it was the only thing people wrote emails to me about. I will rather talk about financial independence than how to build a successful blog. Furthermore, I reported revenue each month which gives a skewed picture of what I actually earn on the blog after expenses – and I don’t have time to do a full P&L each month. I will still publish my earnings on a yearly basis though πŸ™‚


Nick @ TotalBalance.blog August 6, 2019 - 21:35

Holy sh**! TWO bombshells in one post?! πŸ˜›
Respect for making changes based on your new family role πŸ˜‰
What does Mrs. MoneyMow say to all this? Will she stick with her job once her paternity leave is over, or?…

And did you quit already, or are you PLANING to? (I suppose you’re waiting for that next opportunity, before you hand in your notice? πŸ˜‰

Carl Jensen August 8, 2019 - 22:34

Ha! Yes, two bombshells πŸ˜‰

Mrs. MoneyMow is very happy and supportive of this. She is planning to stick with her job after maternity leave.

In fact, I did already quit – living life on the edge πŸ˜€

Nick August 21, 2019 - 20:33

Wow! Bold move there πŸ˜‰ I assume you have something up your sleeve then!?
Looking forward to reading more about it!


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