Financial Update #2

Me and Mr LIL are on a journey towards financial independence (read more on my frugality page). I love tracking progress therefore calculate how much of our goal we have reached every month and I post about it on the blog three times a year (read our first financial update from May here).

At this point we are at 5% of our goal sum for financial independence and are approaching our first milestone which is having enough money to cover our expenses for a year. For the calculations we only use the money we have invested and don’t count our buffer funds or our apartment value since we see them as separate from the money making machine. Because Mr LIL had to pay profit tax on his apartment that he sold for a profit he has been building up his buffer fund for the past couple of months. Now that he has got that up to a level he is comfortable with he will increase his contributions to the money making machine again.

Since the new development of us getting engaged we are setting aside a larger portion of money every month to save up for our wedding next year along with saving for our trip to Japan in February. We have the immense¬†privilege of having parents that can and want to help financially towards the wedding which means we don’t have to save up as much. This means that we can still put money in the money making machine for the next year.

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