Tuesday, March 1, 2016

Freedom Check - February 2016

At the end/beginning of every month, I will update the status of my freedom fund as a way to stay accountable to you and myself. Assuming everything else remains constant, the freedom fund is based on the number of months that I am able to sustain myself without income.

Freedom Check - February 2016

Income = 100%

Accommodation: 16%
Food: 13%
Transportation: 3%
Household: 5%
Entertainment: 0%
Cell Phone: 1%
Travel: 20%
Income Tax: 0%
Personal: 1%
Shopping: 4%
Family: 3%
Others: 4%

Contribution to Freedom Fund = 32%

Average Savings Rate (2016) = 32%

Value of freedom: 21 months


February's expenses spiked due to travel plans but total income hit a new peak. Made adjustments to the formula for 'Months of Freedom' to account for a higher monthly expense (which will now be more realistic as a married couple). As such, there is no significant change in my freedom bucket but the number of months that we can live without income is reduced to 21 months.

On a personal note, I have been busy with work and I'm currently training for my first triathlon. 

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  1. I've never done a triathlon before. Started training for a marathon, was running 10+ miles consistently and had signed up for Philly when we found out we were expecting our first child... due a few weeks before the marathon. I noped right out of there since the sleep loss alone would have crushed any hopes!

    It's still on my "list" but even though I love running (it's like yoga for me) 5k's are a better fit for me from a time perspective.

    And as to your freedom fund, you should have a good idea now on how much your expenses should cost going forward. Just try to keep them in check!

    1. You should...attempt the marathon again. Well for me, I'm not really a runner but I've started to get the hang of doing 5ks every other day. These days I no longer pay to use a gym because most of the workout that I do is often free.

      On the freedom fund, yeah it's going good now and this month we're all set to hit that elusive 50%.

  2. The trend is positive! That is good!

    Good luck with the triathlon!

    1. It is positive...although you'd notice that there were bumps here and there since I started 2 years ago.

      And thanks for the well wishes!