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May 2020 Overview

This is my financial overview of May 2020.

Finances

My finances did well this month. I made a lot of profit in the business and the markets did well.

Business Income

Since my business income is related to my personal finance, I will start with that.

In May 2020, my taxable profit from the business was 12,600 euros. That’s way more than I need to make on average to have a 100k gross income. Year to date in May, my profit is slightly over 64,000 euros. That means I’m 5 months in and well on track to reach that 100k goal. In all fairness, I will probably overshoot it.

Personal Income and Expenses

My personal income this month was 3,780 euros, which is the base (net) salary I pay myself and a tax return from last year’s income tax.

My total expenses were 2,350 euros, leaving me with 1,430 euros saved (or 37.8% of my net income). Year-to-date, my savings rate is now 46.6%.

Overall, this was a very cheap month. The reason my saving rate was a bit low this month is that I paid my car taxes for 6 months. Prorated to a monthly amount that’s not too much, but within this month it does increase expenses quite a bit. Other than that, there were no crazy expenses.

Also, I’m currently limiting my personal income to 3,500 euros per month I pay myself from the business. With profits that are much higher, even reserving for taxes, my net income is about double what I pay my personal account. The remainder is saved up in the business. When I have sufficient liquid buffers in my business account, I will increase my salary and my saving rate will shoot up with it.

Investments and Net Worth

Both stocks and crypto went up this month. Together with my savings, that’s good for my net worth.

DeGiro

My stock portfolio at DeGiro gained over 700 euros. That’s not as crazy a rebound as last month, but green numbers are good!

I reduced my portfolio from four funds to just one. I now invest in VWRL only for simplicity.

Use my link to sign up for DeGiro. It’s at no extra cost to you, and it helps me run this website. Just click the link of your country and give it a go! NL / DE / AT / ES / IT / PL / SE / UK

Even with the current market correction, I still believe (my opinion!) that it is a good idea to invest in stocks. After all, it gives a possibility for capital growth. If you want to invest in stocks like me, please use the affiliate link above to sign-up for DeGiro. That helps me without costing you a dime!

Mintos

Mintos has been a place of mixed feelings. Originally, I’ve put in 4,000 euros to test this platform, and I have not been adding any more money towards it.

As a starting entrepreneur I need investments that are liquid. So I have taken out almost all my money I had in Mintos. That money is reallocated to stocks. Although the concept of Mintos appeals to me, I’m not sure if I’ll go back to P2P lending after all of this is over.

Currently almost all my money is taken out of Mintos and reinvested into stocks. With the few euros still on the platform today I’m making about 10 cents in interest every month.

If you want to invest in peer to peer lending via Mintos, please sign up using this link. It is completely free to you, and I might receive a small compensation to help me run this website. Win–win!

Grupeer

Grupeer looks like a scam lately. I would not advise to invest any money with them before we know more.

I have written off my entire investment (about 3,900 euros) in Grupeer last month. This month I participated in a lawsuit (equivalent to a class-action suit) against Grupeer to recover the remaining money.

Crypto

My crypto portfolio was about flat this month, gaining slightly under 200 euros.

I am waiting a little bit to pull the trigger on the next few sell orders to further limit my exposure to crypto.

Net Worth Progression

How is that for a v-shaped recovery?!

Blogging

May was quite a good month again with 3,820 visitors generating 9,101 pageviews.

Google sent me 2,971 people this month. That’s less than last month but definitely not bad. I might have to write a few additional pieces these days when I find time.

The best-read new article in April was the April 2020 Overview.

The three best-read old articles are the same as last month (thank you again Google!)

How did your month go?

6 thoughts on “May 2020 Overview”

  1. the V-shape is looking good B! With regards to taxes: I recalculate the taxes I have to pay each month, via https://www.ikwordzzper.nl/zzp-stappenplan/handige-hulpmiddelen/netto-besteedbaar-inkomen-calculator-zzp). This way, at the start of the year most of the gross income is nett income, moving towards 50/50 as the year progresses. Added benefit is that the extra income at the start of the year can be invested immediately, leading to a few extra months ‘in the market’.

    Reply
    • Hi Bram, I’ve thought about something similar too, but I found it too much work. I’d rather just take a fixed percentage every month to set aside and then when March comes, find out I have a few grand too much :-)

      Reply
    • Hey, ik heb een eenmanszaak, geen BV. Dat maakt het per definitie onmogelijk om te beleggen vanuit het bedrijf. Ik heb gekeken naar de optie BV, onder andere om te kunnen lenen van het eigen bedrijf. Belegging in een BV is bijna nooit interessant, aangezien je dan VPB en dividendbelasting betaalt over je beleggingsresultaat waar je in privé slechts de VRH betaalt.
      Probleem bij een BV is het verlonen van het DGA-salaris. Als je omzet niet 1:1 te relateren valt aan je eigen werkzaamheden kan dat gunstig zijn. Je betaalt jezelf een minimum salaris van ±50k en de rest keer je uit als dividend. Bij hoge inkomens is dat gunstig. Voor ondernemers die uurtje factuurtje werken is dat echter lastiger… je kan nauwelijks aannemelijk maken dat jouw winst niet 1:1 afhangt van je eigen arbeid, dus moet je de afroommethode gebruiken. Die komt neer op dat je 75% van je omzet moet verlonen in box 1, en dat wordt al heel snel heel erg ongunstig ;-).

      Reply
  2. Hi, impressive to see such high income even during covid19. What line of business are you in? Please keep blogging. Thanks.

    Reply
    • Hi Edric, I am a self-employed consultant in the data analytics space. Luckily I have some active contracts, that’s why I still make good money. Lots of my freelance colleagues were worse off.
      Thanks for stopping by!

      Reply

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