My road to financial freedom

edited 6 July 2017 at 3:09AM in How much have you saved?
19 replies 15.3K views
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  • savingwannabesavingwannabe Forumite
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    Really well done Carlez. I think you are doing admirably. Glad they have increased your hours. I hope you have a good day.
    Try to have a minimal spend year in 2021
    Saving change in money box.
  • Skint_yet_AgainSkint_yet_Again Forumite
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    That's great news about your savings and extra work Carles


    I think you are brave putting all your savings into the stock market. I am very risk averse and would not be able to take the risk but I hope it works out for you, after all great fortunes can be made. Good luck !
    0% credit card £1360 ~ paid in full
    0% Car Loan £7500 ~ paid in full
    JAN 2020 = NOW DEBT FREE
    Emergency fund £1000 / £1000
    Aiming to retire early in 2025 🥳
  • edited 23 May 2017 at 2:26AM
    Carles_DiazCarles_Diaz Forumite
    14 Posts
    edited 23 May 2017 at 2:26AM
    Good news here!

    As I said before, on January I was promoted and my salary doubled. Now, after few months passed, I have been promoted again because the guy who was a rank higher than mine left. The difference on the salary is quite small, but is more than what already was something big for me. So, I decided to increase my rate of savings from 20€ a day to 40€ a day during May, June and July. After July, my girlfriend is comming to live with me temporary, so I will decrease the rate (althought I will keep it with more than 20€ a day).

    Well, March, April and May were amazing months. I invested my two paychecks and I am about to get the third. I received my university scholarship, my 2016 tax refund, dividends from Nestle, Diageo and Procter & Gamble and also invested all of it. After that, I found that I had 550€ in my piggy bank (at home), so I decided to invest it all, too.

    With the luck I've been having, I plan to start receiving a higher income from my investments from now, what means that I will receive even more income every month.

    My stats so far:

    Savings account: 34,59€
    Investments account: 25.448,92€

    Current rate of savings: 40€ a day.
  • Skint_yet_AgainSkint_yet_Again Forumite
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    Ninth Anniversary 1,000 Posts Name Dropper
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    Well done on your promotion and scholarship Carles.


    Your savings are amazing and I hope your shares continue to pay a good return.
    0% credit card £1360 ~ paid in full
    0% Car Loan £7500 ~ paid in full
    JAN 2020 = NOW DEBT FREE
    Emergency fund £1000 / £1000
    Aiming to retire early in 2025 🥳
  • savingwannabesavingwannabe Forumite
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    Really well done from me too Carles. I am going to be nosey (as I only save my miserable amount in the bank) and ask if you have invested in shares and whether it is easy to do this? I don't know anything about this and would learn more.
    Try to have a minimal spend year in 2021
    Saving change in money box.
  • edited 3 July 2017 at 10:32PM
    Carles_DiazCarles_Diaz Forumite
    14 Posts
    edited 3 July 2017 at 10:32PM
    2 Months passed.

    No major changes in my life. I kept working and saving 40€ a day. My girlfriend is coming to live with me and my mom :love::love::love::love::love::love: (we are still too young for independence, as she is still studying, and has to leave in January 2018 again), she lives in another country and is visiting me for 4/5 months, so my current target is to save at least 600€ to 900€ a month from August to January.

    I often receive dividends from my stocks and found out I make 37.30€ a month from dividends, what shocked me, ONLY 37,30€ A MONTH?????? :shocked: :shocked: :shocked:. I Actually make more (but not much more :sad: :sad: ), since I didn't receive dividends from recent bought stocks, so I didn't added them to my calculations. I expected I would make more when the amount of money invested would be near 30k. I called my bank since I am paying double taxation :angry::angry::angry::angry:, and they told me I have to go to the tax agency to fix it and get back my money.

    I feel a bit sad since I see that the impact of my investments make a minimal amount of money every month. I will keep recalculating them when receiving dividend from new stocks, and the tax refund. After all, all those companies increase the dividend year after year :think::think::think:, and I re-invest all those dividends :think: :think: :think: , so I wish I will see an increase in my dividend income soon (PLEASE :wall: :wall: :wall: :wall:) .

    THE GOOD NEWS is, few months ago I didn't take into acount dividends, because they were very minimal, I was just thinking of accumulating money, and now I am starting to think about dividends (because they start to arrive more often and in more quantities), so although the dividends are still very low, I think the progress is positive. :A :A :A :A
  • Really well done from me too Carles. I am going to be nosey (as I only save my miserable amount in the bank) and ask if you have invested in shares and whether it is easy to do this? I don't know anything about this and would learn more.

    Yes, I invest all my money in shares from common companies (I added the list in the main post), and they are very easy to buy (just call your bank or do it from your bank account on the Internet), but it is very important to find a good broker, which doesn't charge any money for custody or dividends received. I use ING Direct, and they have a good broker service, for example.
  • Well done on your promotion and scholarship Carles.


    Your savings are amazing and I hope your shares continue to pay a good return.

    Thank you!

    Anyway I am starting to feel a bit tired at work. My boss is very "ambitious" and is making me to work almost 60 hours a week, so I think a big change is coming soon in my life.
  • savingwannabesavingwannabe Forumite
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    Charles those are ridiculous hours. I hope you get a new job soon.

    I think it is hard to make money in the stock market. I think you are v brave and I wish you well.

    I hope the weather is good out there.
    Try to have a minimal spend year in 2021
    Saving change in money box.
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