Every Dollar I Earned, Spent And Saved In 2019 – Savings Rate: 73,2% !

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I started to track my income, savings and expenses in detail in november 2018. You can view all my income & expenses reports here.

This excercise has given me enormous value, because now I know exactly how much my life costs. Before I started tracking I believed my expenses were aprox $24,000 per year, but the result for 2019 is “only” $17,817.

Because of this reflection I’ve decided to reduce my Financial Independence number from $600,000 to $500,000. This also means that I will be financial independent in only 2 years and 6 months.

Let’s dive into how my finances were like in 2019.

Total Income 2019

My post-tax income for 2019 was $66,529. The salary from my day job contributed with $64,725 (97%). You can view my month-for-month income & expenses reports here.

This was more than I thought orginally.

For 2020 my goal is to increase my salary from my day job by 10%.

Not too much to say about the other categories, most of them are self-explaining. Gifts were birthday and christmas presents.

Total Expenses 2019

$17,817 was spent in 2019!

Before I started this year I calculated with spending $24,000. But my life is apparently a lot cheaper.

You can check out how much I spent every month in 2019 here.

I’m so impressed! This just means that the road to financial independence will be a lot more easier.

If I use the 4 %-rule and calculate with my expenses for 2019 it would mean that my FI-number is: (100/4) x $17,817 = $445,425.

This number is much lower that I’d planned for. So stoked to update my net worth right now.


There’s no surprise in my book that mortgage rent is one of the biggest expenses ($4,190).

If I instead paid down my mortgage than invest, I could be debt-free right now.

But I think investing has a much larger upside. My mortgage rent is 2,55 % while I expect 10% in the long run in the stock markets.

My net worth will grow much slower if I’d chose the safe option (paying down my mortgage). Next year we’ll pay more in mortgage rent because we’ve bought a house.


My expenses for groceries this year was $3,436.

This post was a bit bigger than I expected, but it includes groceries while we’ve been out traveling (Australia, Singapore, Spain, Denmark and Sweden).

I’m not looking into reducing this number, because it would mean that we couldn’t eat what we want at all times.

Shared Housing Cost

My expenses for shared housing was $2,807. This includes water, sewage, garbage, building insurance etc. After we move to our new house (in about 10 months), our cost will be much lower, aprox. $1,900.


The expenses for this category was $1,222. A pretty low number in my eyes. It includes flight tickets, train tickets and hotels.

Prediction Of Expenses For 2020 & Should I change My FI-number?

I’m not going into detail about all my spending this year, but I’m trying to give an estimate for my total expenses for 2020.

Mortgage rent will probably increase by $1,000 in 2020.

I expect groceries to lower by some hundrerd dollars. Shared housing costs will probably be a bit lower. Travel will stay the same. Transportation will be lower due to my bicycle goal of riding 3,000 km in 2020.

In total I expect to land in on around $18,000 for 2020, but let’s see 😉

My FI-number based on the expenses for 2019 was $445,425. I’ve already reduced my FI-number from $600,000 to $500,000 earlier this year.

You can read about why I did that here (hint: 2 years left until financial independence).

So should I reduce my number from $500,000 down to $445,425?

As I’ve aldreay lowered it one time this year, I don’t see any point in doing it one more time.

The road to FI is really short now anyway.

If the market returns 10% in 2020 and 10% in 2021, I’m financial independent.

It feels kind of absurd, but once you’ve set your mind up for financial independence, there is absolutely no return. At least it’s not no return for me!

Total savings in 2019 – Savings Rate:

In 2019 I paid a minimum on my mortgage, and therefore the down payment is “only” $4,578.

As you know I prefer investing over becoming debt-free.

In 2019 I invested $44,134 into stock market index funds. My goal for 2019 was $42,600, so I barely made my goal this year.

In 2020 I’ve made a goal of investing $47,000 in index funds. 

In total I now have aprox. $304,000 invested in the stock market. Excited to see the numbers 31.12.2020!

My savings rate this year was $48,712 / 66,529 = 73,2 % !

Read all my posts in chronological order here: Archives

Have questions, comments or suggestions? I would love to help you with your FI-journey.

Feel free to reach out directly at @Route2FI on Twitter or email me at post@route2FI.com

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4 Replies to “Every Dollar I Earned, Spent And Saved In 2019 – Savings Rate: 73,2% !”

  1. That is amazing, you have great numbers and the growth is incredible. I love to have the insight into how much you’re actually spending throughout the year, that can be a big difference compared to what you’re expecting to spend. I’ll also round up my totals soon, let’s see!

    Only 2 years and a bit to FI is exciting, looking forward to following your journey!

    1. route2fi says: Reply

      Thank you so much, Radical FIRE! How was your 2019? I bet you spent way less? ?

  2. Great savings rate!
    I am averaging around 55% savings rate currently.
    Could be higher but I am aggressively paying down my mortgage at the same time.

    I am focusing on paying down mortgage at the same time as my career (football) will probably last just 6-7 more years and I would like to be debt-free by then.

    Wish you successful investing!

    1. route2fi says: Reply

      Thank you so much!

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