Category Archives: Monthly update

Networth

Networth Update – 12/2019 (December)

In December we reduced exposure to Mintos P2P platform. If you have been following the news on the P2P area and if you are a fellow Mintos investor you might have noticed the following post on mintos blog. Basically the Loan originators from Mintos operating in Kosovo had their license revoked on the grounds of ignoring previous warnings due to imposing high interest rates and also compliance issues.

My first Mintos situation

The case gets a bit shady if we compare the financial size of Monego in Kosovo (~15M € in assets) and the way all has been handled. Shady goes not only on the direction of Kosovo authorities which Monego CEO points but also to Mintos situation with their LOs.

This is nothing new but when we have one of the founders of Mintos being Monego CEO the case gets quite tricky. We shouldn’t be naive to expect these fellows wont try to take advantage of complex tax schemes using shelter companies in Malta and other places to loan and borrow money to avoid taxation on gains. If they get too agressive on this (eg. borrowing with very high interests) they should pass, otherwise sometimes it get triggered.

This has caused an increase in Mintos secundary market circa + 100k loans. Personally, i’ve sold my positions to a maximum of 400€ per LO. With the current situation i’m currently locked with 732€ in Monego. In the meantime Mintos also announced Monego loans would be stated with Pending payments and would be assumed by Finitera group. Making sure when the loans were being payed in Kosovo the money would find his way towards “us” the investors.

Lets see what this will conclude…

Summary:

Our Networth value for December is 396 667.95€ (+1 258.93)

Hightights of December:

  • Portfolio goes up! +5.27% up since August. I’m expecting some correction in the beginning of the year. Biggest increase in on the emerging markets.
  • Got the final values of the rental apartment selling (+91k).

Assets:

Investment accounts

  • ETFs Portfolio: 23 549.05 € (+626.48)
  • Retirement Accounts (aka PPR): 14 033.51 € (+88.23)
  • Certificates Deposit + Emergency Fund: 122 447.17 € (+2 525.60)
  • P2P Portfolio: 15 426.14 € (-2 316.54)
  • Total Investment accounts: 180 460.67 € (+ 924.07)

Real Estate (Based on Market Values)

  • Primary Residency: 300 000 €
  • Rental property: 254 378.75 €
  • Farms: 70 000 €
  • Total Real Estate: 370 000€ (Removed Rental property)

Cars

  • Mr.Firecracker Car: 20 000 €
  • Mrs.Firecracker Car: 18 000 €
  • Scooter: 1 500 €
  • Total Cars: 39 500€ (=)

Total Assets: 589 960.67 € (-924.07)

Liabilities:

  • Primary Residency: 193 292.72 € (-334.86)
  • Farm: 0 € – Fully paid. Was in the same credit aggrement has the apartment.

Total Liabilities: 193 292.72 € (-334.86)

Our Networth drilldown looks like this:

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Networth

Networth Update – 11/2019 (November)

In November we finally got the contract selling our Rental apartment! We diminished our actives but also our passive! We’ve also decided to increase our exposure to P2P increasing 2k more in Monethera.

Things seem to go in a good direction and we now sit in a pile of cash. To be honest the biggest amount we’ve ever own. Which means we will sit on it until we are confortable with the amount and only then apply it.

Summary:

Our Networth value for November is 395 409.02€ (+7 671.32)

Hightights of November:

  • Increased exposure to Monethera (+2k). Monethera seems like a pretty solid platform. Easy to use, good transparency on the companies and the projects are still getting in. In this uncertainty market its better to invest in P2P which have an actual business behind. If you would to invest, use my link win 5€ and 0.5% cashback.
  • Got the final values of the rental apartment selling (+91k).

Assets:

Investment accounts

  • ETFs Portfolio: 22 922.57 € (-117.14)
  • Retirement Accounts (aka PPR): 13 945.28 € (+456.33)
  • Certificates Deposit + Emergency Fund: 119 921.57 € (+91 053.09)
  • P2P Portfolio: 17 742.68 € (+2 150.65)
  • Total Investment accounts: 179 536.60 € (+93 542.93)

Real Estate (Based on Market Values)

  • Primary Residency: 300 000 €
  • Rental property: 254 378.75 €
  • Farms: 70 000 €
  • Total Real Estate: 370 000€ (Remover Rental property)

Cars

  • Mr.Firecracker Car: 20 000 €
  • Mrs.Firecracker Car: 18 000 €
  • Scooter: 1 500 €
  • Total Cars: 39 500€ (=)

Total Assets: 589 036.60 € (-160 835.82)

Liabilities:

  • Primary Residency: 193 627.58 € (-334.54)
  • Farm: 0 € – Fully paid. Was in the same credit aggrement has the apartment. (– 168 172.60)

Total Liabilities: 193 627.58 € (-168 507.14)

Our Networth drilldown looks like this:

You can follow our Networth status always here

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Monthly Update – 11-2019 (November)

November. Events month for Lisbon. Post is again late since i was travelling :).

This month we had the websummit in Lisbon which is a major Tech event . Well they claim its “The best technology conference on the planet” and also the largest in Europe. I believe this year or last they had around 70k visitors. This is quite impressive. We happen to be returning from our vacations and i could do the check-in for the event in the airport. This saved me a lot of time since 70k people usually generate awfull queues.

Anyhow those were 4 tiring days with also many side events. Lots to learn. Additionally we have also sold our Rental property. Finally !!!

If you recall i’ve already announced the signaling here. This was a huge stress. Not only was the first time we sold an apartment but also some documents were missing on the day because we got married between buying and selling the apartment. What a mess. Since in Portugal most of the agencies dont talk with each other no way they could easilly find out if i was married, right?

I’ve also flown to Berlin for a couple of days attending a workshop. Unfortunately i flew with a cold and my ears didnt pop out after landing. What was a minor disconform transformed into a major annoiance for the next 2 workshop days. I felt i was under water for the whole time…

Coming back, same effect which led me to visit a doctor and find out i had Otitis in both ears 🙁 Otitis is basically an ear infection which was caused by my cold. Anyhow, i planned to attend an event on the day after but i had to rest the whole day. Time to rest is time to rest.

But enought with the talking, lets go to the numbers, here goes our November monthly update ! We will be focusing on the operational part. Income vs Expenses vs Savings rate.

Income

Salaries: 5 192.50 €

Expenses

Housing

  • Mortgages: 1 101.26 €
  • Insurance, Condominium, etc: 49.74 €
  • Utilities (Water, Lights, Gas, Internet, Phones): 218.66 €
  • Total Housing: 1 369.66 €

Cars

  • Fuel: 149.57 €
  • Maintenance: 56.80€
  • Insurances: 129.55 €
  • Transportation (parking, tolls): 76.85 €
  • Total Cars: 412.77 €

Health & Personal items

  • Consultations & Exams: 62.25 €
  • Clothing: 0 €
  • Total Health: 62.25 €

Food

  • Grosseries: 86.19 €
  • Eating-out: 573.35 € (Mrs.Firecracker celebration dinner for delivering her Master Thesis, finally selling the house dinner and some christmas dinners!)
  • Total Food: 659.54

Misc

  • Selling the house contracts costs: 271.38 €
  • Others: 135.97 € (Already some Christmas gifts)
  • Total Misc: 407.35 €

Total Spent: 2942.07 €
Budget for the Month: 3102.78 € (added 417€ for vacations)

Savings Rate

SR = ((Income – Expenses) / Income ) x 100 = (( 5 192.50 – 2 942.07) / 5 192.50 ) x 100 = 43.3 % or 2250.43 €

We have stayed below our monthly budget (yay!) We also increased i’m aware.

Next Steps

Next month we will finally some renovations inside the apartment that would increase our quality of living. We will also have christmas aaaaannd Christmas bonus !

Want to see how our Networth is going? Check here

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Networth

Networth Update – 10/2019 (October)

In October all went smoothly. Our Networth continues to grow at a good rate per month.

Vacation = relaxing time

Since we were some in time on vacations this month and we are sitting in some cash i have made de decision to invest in two new P2P platforms. I’ve funded 3k in Monethera and 2k in Wisefund.

Summary:

Values will be settled with next months pay. Our Networth value for September is 387 737.70€ (+1 294.57)

Hightights of October:

  • Invested in two new P2P Platforms – Monethera and Wisefund.
  • Steady ETF portfolio (+2%)

Assets:

Investment accounts

  • ETFs Portfolio: 23 039.71 € (+314.30)
  • Retirement Accounts (aka PPR): 13 488.95 € (– 13)
  • Certificates Deposit + Emergency Fund: 33 872.98 € (-4 826.92)
  • P2P Portfolio: 15 592.03 € (+5 206.56)
  • Total Investment accounts: 85 993.67 € (+680.94)

Real Estate (Based on Market Values)

  • Primary Residency: 300 000 €
  • Rental property: 254 378.75 €
  • Farms: 70 000 €
  • Total Real Estate: 624 378.75€ (=)

Cars

  • Mr.Firecracker Car: 20 000 €
  • Mrs.Firecracker Car: 18 000 €
  • Scooter: 1 500 €
  • Total Cars: 39 500€ (=)

Total Assets: 749 872.42 € (+680.94)

Liabilities:

  • Primary Residency: 193 962.12 € (-334.23)
  • Rental property + Farm: 168 172.60 € – Both are comprised on the same loan (-279.40)

Total Liabilities: 362 748.35 € (-613.63)

Our Networth drilldown looks like this:

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Neuschwanstein-castle

Monthly Update – 10-2019 (October)

October was quite a busy month. Sorry for the late posting but work has been quite hectic.

This month i was again for a full week working in Munich the good thing was that Mrs.Firecracker joined me in the middle of the working week. We used a voucher she had from TAP (The trip ended up only costing 100€ back and forth) and she stayed with me, thus no Hotel costs until we actually started our vacation.

We stayed in the Bavaria region, went all the way until Bayreuth (Wagners town), Nuremberg and then using the Romantische Strasse road which goes all the way south through some really nice medieval villages up to the Neuschwanstein castle next to the Austrian border!

Neuschwanstein-castle

Germany was quite lovely in this time of the year. We used afterwords the Alpen road to drive until Salzburg. It was a different Halloween i would say. The black forest can get really foggy.

As any other vacation this also had a cost in our budget (~900€) but luckily we saved quite a bit with the voucher. On the side of the extra expenses we had 440€ for roof repairs in the building we live in. The roof is in very poor conditions and the guy doing the repairs is on a trial since if this goes well he will be also doing the facade of the building.

I don’t know if i mentioned this but our facade is in poor condition and currently almost feels like we are going to have a hole in our wall everytime it rains. Lets hope he can start the work asap and solve this. Construction labor is rea lly lacking in Lisbon right now. Work ethics is bad, they dont return phone calls, when they do they will anwser they are busy and that YOU should try to get in contact in them maybe in a couple of weeks.

But enought with the talking, lets go to the numbers, here goes our October monthly update ! We will be focusing on the operational part. Income vs Expenses vs Savings rate.

Income

Salaries: 3 733.84 €

Expenses

Housing

  • Mortgages: 1 101.26 €
  • Insurance, Condominium, etc: 49.74 €
  • Utilities (Water, Lights, Gas, Internet, Phones): 122.07 €
  • Total Housing: 1 273.07 €

Cars

  • Fuel: 57.39 € (No need to use car when i’m travelling 🙂 )
  • Maintenance: 55.41€
  • Insurances: 129.55 €
  • Transportation (parking, tolls): 30.90 €
  • Total Cars: 273.25 €

Health & Personal items

  • Consultations & Exams: -18.96 € (Reimbursement of last months expenses and other normal expenses for this month)
  • Clothing: 12 € (i’ve bought several shirts for work and we had a wedding)
  • Total Health: -6.96 €

Food

  • Grosseries: 272.52 €
  • Eating-out: 294.70 € (Damn..still over our 200€ budget)
  • Total Food: 567.22

Misc

  • Home repairs: 440 €
  • Vacation: 965.84 €
  • Others: 9.20 €
  • Total Misc: 1426.03 €

Total Spent: 3549.11 €
Budget for the Month: 2 685.78 €

Savings Rate

SR = ((Income – Expenses) / Income ) x 100 = ((3 733.84 – 3 549.11) / 3 733.84 ) x 100 = 0.05 % or 184.73 €

Our Networth still keeps on growing (you will be able to check on my next post) but we are still quite a bit above our monthly budget.

Next Steps

We will sign the final contract to sell our Rental property. Only Vodafone remains to be cancelled. This will be another fight. Lets see. Some expenses my occurs from this.

Hopefully we will get all the renovations needed in our building and also our apartment.

Want to see how our Networth is going? Check here

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