May 2019 Income & Expenses – Savings Rate: 64,2 % !

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Another great month in terms of savings!

Here is my income & expenses for may 2019!

Seems like you loved the flow diagram from last month, so I’ll make it this month as well! 

The flow diagram visualizes both my income, expenses & savings in the same figure. What do you think of it?

The currency is as always USD $.


Here is what my income looked like in may:

My income this month was 4563 $. As you can see most of it (94 %) was from my day job.

The post “Rent from partner” is for the shared cost (housing). My fiancee transfers to me, and then I pay the bill. 


Here is what my expenses looked like in may:

My expenses this month was 1631 $. That’s $355 more than last month! A slightly normal month for me.

What have I done differently the last months?

It’s been warmer weather, which means:

-lower electricity bill (only $23,6)

-bicycling to work (my public transport is reduced this month by 135 $!)

Why did I spend more this month?

I attended a wedding, paid an expensise taxi from the wedding and had to pay for hosting of my blog. These 3 things was aprox. $300, which can explain why this month was higher than my record low expenses from april

As always I strive to reach a passive income level of $2000/month,  it would mean I would be financially free! More on that in the net worth report.

I really consider buying things before I actually do it. FIRE has made me save a lot of money, but at the same time I sometimes blame myself for spending money on things that I know I could survive without (fancy dinners eg.).

It feels good in the moment, but it doesn’t give me enough pleasure to defend the high costs.

Tracking my expenses is motivating and fun. It really makes me think twice about buying things.

Savings rate

This month’s savings rate was a whopping 64,2 %, which I think is really good. I mean, my goal this year was a savings rate above 60 %. But somehow I feel bad because I didn’t reach a 70 % savings rate this month. Weird, right? 

I will keep pushing to increase my savings rate, but I don’t want to do it in trade of having a good life every month.

The point is this. Probably I could hit 75 % every month now, but then I think my life would be boring and I would suffer. To increase my savings rate I therefore have to earn more (and yes, I got a new job which is taking care of this!).

You can read more about my new job and how much I will earn in my newsletter.

It feels too good to load up my index funds, and in the next post about my net worth you’ll see how my progress are.

Read all my posts in chronological order here: Archives

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12 Replies to “May 2019 Income & Expenses – Savings Rate: 64,2 % !”

  1. Congrats on a solid month. Your savings rate is already very impressive. Keep it up!

    1. route2fi says: Reply

      Thank you, Tawcan!
      Tell me if you step by Oslo 🙂

  2. Another great update from you! Awesome to already actually be financially free with your passive income and low expenses.

    And congrats with your new job!!

    1. route2fi says: Reply

      Thank you so much, FI Mom.

      Keep posting your good content.

      There is a lot of things I can learn from you!

  3. Impressive savings rate! Don t beat yourself up for those fancy dinners, just enjoy the company when you are there, or simply reprioritize next time by not going or joining the crew later. And I agree with the point that one should focus and spend money on what will give him long-term happiness. Good stuff 🙂

    1. route2fi says: Reply

      Thank you, Jonathan!
      How was your month btw?
      Tell me if you’re in Norway sometimes again 🙂

  4. Hi Route2fi,
    That’s a really good savings rate!
    Even by budgeting and writing down where your money is going, puts you way ahead of a lot of other people.
    Loving the income/expense flow diagram!

    1. route2fi says: Reply

      Thanks, man! How was your month btw? ?

  5. Hi Route2fi,

    Really interesting the detailed income & expenses monthly update.
    I think I should also begin to track my expenses ?. I must admit I’ve never done it because I’ve always focused on increasing my income, but it’s clear it’s just as important (or even more) to reduce expenses.
    By the way, I’m shocked a little by the high interest you pay for your mortgage… Is it at fixed/variable interest? Which is the margin?


    1. route2fi says: Reply

      Thank you so much !
      Yes, you should ? It’s easy and important if you want to be FI!
      My mortgage interest rate is 2,1%. What is yours? I thought that was normal! ? It is variable ?
      What’s your plan for FI btw?

  6. Wow – I love that flow diagram for visualising expenses and income! It really shows you where to focus your energy!

    How did you make it? Can I find it in excel? Powerpoint?


    1. route2fi says: Reply

      Hey, Sterling!

      I’m glad you liked it. It’s pretty easy to make it, and it’s totally free. Just google “SankeyMatic” and you’ll find it!

      Good luck with your P2P-journey 😀

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