Our Financial Independence Journey: Monthly Update #32 (August 2019)

Update 32


It’s time for the monthly update from August.

Personal life: What happened in August?

As mentioned last month, I decided to quit my job in July.ย I even did so without having a signed contract for a new job.

Now, it’s going to be another month before I can officially announce what I’ll be doing in the future, but I do have something up my sleeve. We just need to sort out the last details ๐Ÿ™‚

Having quit my job, motivation dropped slightly and my mind has been focusing on other things. Changing jobs is a time for self-reflection, to change bad habits and to create new good ones.

In my “new life” as an ex-consultant with fewer working hours, I’ll have more time for other things. I have promised myself to start working out more and to see my friends more. It’s easier said than done, but I’m determined to introduce new good habits.

In other news from August, we have enjoyed a relatively slow month where we both have spent a lot of time with our daughter. It’s amazing to watch her grow and learn new things. Even the smallest things can make daddy proud ๐Ÿ™‚

Financials: How are we tracking on our FI goal?

August was a decent month financially.ย Although there are clouds ahead (we have to do some maintenance on the apartment), this will not kick in until next month.

We ended up with a savings rate of 38%, which was slightly up from last month. Our average this year is just around 40%. I’m very keen to see that number surpass 50% when the year ends.

Our combined take-home income was at 60,197 DKK (9,261 USD), which is lower than normal due to my wife’s maternity leave. We managed to save 22,597 DKK (3,476 USD) resulting in the 38% savings rate.

Our net worth increased greatly this month. Our savings can only explain some of this – mostly it was due to real estate price increases:

Our total combined net worth is 2,711,238 DKK (417,114 USD), which is 2.0% higher than last month. 29% of our assets are liquid meaning they can relatively easily be converted to cash.

As you can see, real estate was the biggest contributor to the net worth growth this month increasing by 2.5%. Stocks and crowdlending also did their part. Cryptocurrencies… well, let’s not spend more time on that.

All our three financial independence goals increased this month:

  1. Three years’ expenses in savings: 55.1% (up from 54.3%)
  2. Optimistic FI goal: 37.2% (up from 36.5%)
  3. Traditional FI goal: 9.5% (up from 9.4%)

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

The traffic for the month was not impressive. In June, my site was punished by Google for some reason from one day to another. It just hasn’t gotten back to normal since then.

The metrics last month were:

  • Visitors: Number of visitors was 4,017, and decreased by 39% compared to last month
  • Pageviews: Pageviews were 6,749 and decreased by 31% compared to last month

I have tried this before on other websites, so I know as long as I keep posting, numbers will increase again. This being said, it is, of course, more fun when things go up rather than downย  ๐Ÿ™‚

Favorite posts of the month

My favorite posts of the month were:

  • Angela from Tread Lightly, Retire Early published a story about her husband’s godfather who has been retired for eight years. He does not have a blog, side hustle or anything else like most other people we read about in the FI sphere. The post is about his story and it’s refreshing to hear how “real” early retirement is like ๐Ÿ™‚
  • ModernFimily wrote a post about what early retirement feels like – and even more importantly, highlights how important it is to have a positive mindset and focus on the positives (despite where you are in the FI journey).
  • The Three Year Experiment wrote about “letters from the past“, which means writing letters to future you. This is a thing I have done myself. Every three years I write a letter to my future self and then I open it, read it, reflect on it and write a new one. I love opening them after three years and it’s amazing how emotional you can become reading it – it’s also cool to see what changes and what doesn’t from letter to letter.

Thanks for reading all the way to the end. I hope you’ll have a great September!




FinanceFreedom.eu September 15, 2019 - 12:28

Hey Carl! If I may ask, how do you know that your site was punished by Google?

Carl Jensen September 15, 2019 - 20:01

Sure! My traffic from Google dropped 80% overnight back in May. Thatโ€™s how I know ๐Ÿ™‚

FinanceFreedom.eu September 16, 2019 - 10:14

And you have no idea why that happened? That’s hella weird.

Carl Jensen September 16, 2019 - 20:28

I know it happened on the same day as a Google Core Update, so something in the algorithm didn’t like my site anymore – I also received a lot of spam links from Russia in that period, so that might be part of the issue ๐Ÿ™‚


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