Why I’m Upgrading My Lifestyle

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Planning My Future

It’s almost July. The first half of 2020 is nearly done. Some days I just like to sit quiet in solitude to think. This is one of those days. I open up my text browser with a blank screen.

What I often think about is the future. I rarely think about the past, which I believe is a good thing. I always look forward. The drawback is that I’m not always that good to enjoy the present.

In 6 months we’re going to move into our new townhouse. We’re moving away from the city to a smaller suburb outside the capital. The house will be double of the size of what we have today.

This blog post will be my musings on the costs of our new life with a bigger house.

First of all which costs will increase?

Increased Expenses In 2021?

Our house today is valued at $520,000, while the newer one will cost $685,000. This will mean that my part of the mortgage will increase with aprox. $80,000. An extra $80,000 in mortgage with the current interest rate of 1,40% means an extra $1,120 per year in expenses. 

We also have to buy new furnitures which obviously is not free. We’re looking into checking out Craiglist etc. to find good deals, so this will be one-time costs mostly.

The house is also bigger which means that electricity bill will increase. In 2019 I spent $755 on electricity. My main guess is that this cost will increase to $1,000. That’s an extra $245.

Shared costs will decrease with aprox. $90 per month due to a newer standard.

We’re also looking into buying an electric car. This will also be a one-time purchase ($10-$20K), but the car maintenance for an electric car is pretty cheap. My best guess is that having a car like that will increase my monthly costs with $100 per month = $1,200 per year.

Below you can see my total expenses for 2019:


For the first 6 months of this year I’ve spent aprox. $8,000. If this trend continues I’ll end up on $16K in total for the year.

Next year with the increased costs of a house and a car, I’m probably looking into spending an extra $2,475.

My costs will still be under $20K per year, which I think is pretty frugal.

Increased Income In 2021?

I’m starting a new 9-5 job in August. I’m looking into recieving $12,200 more per year from the new job compared to my current job. 

So maybe the math won’t be the worst after all?

Projected increased expenses for 2021: +$2,475
Projected increased income for 2021: +$12,200

Sum: $9,725 more in 2021. That’s an increased cash flow of $810 per month.

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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9 Replies to “Why I’m Upgrading My Lifestyle”

  1. Tony @ onemillionjourney.com says: Reply

    Man I’m moving to Norway, 12k salary increase on current conditions is huge!

    Congrats! 🙂

    1. route2fi says: Reply

      Thanks, my friend!!

  2. It’s exciting to move and have a different living situation. Like that you’re getting an electric car, that’s a great thing to do! Plus, congrats on the new job and the $12K salary increase. I think that will more than make up for your increased living expenses!

    1. route2fi says: Reply


  3. Congrats on the new job and raise! An additional net of $9,725 a year is a nice boost towards your FIRE goal. Good luck with the new house as well!

    1. route2fi says: Reply

      Thanks! How is the FI situation for you at the moment?

      1. It’s looking good. Waiting patiently for the world to open up and sucking it up until then. It’s amazing how quickly you lose interest in the corporate world when you are FI. I would have never imagined it would be like this 🙂

  4. Great and congrats with The new job. Can I ask What job you have? And also What Electric car you bought? What do you expect The cost Will be for The car (without The cost of The car) just found your blog today, and already like it A lot!

    1. route2fi says: Reply

      Thank you, Kira! I am an engineer. Haven’t bought a car, but looking into Nissan Leaf, Renault Zoe, BMW i3 etc. I think $200 for car costs per month will be suitable.

      Are you on your path to FIRE yourself?

      Thank you!

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