Networth Update – 11/2020 (November)

Welcome to the November Networth update! Restrictions over COVID increased, Christmas paycheck and renovation options!


14th Paycheck – welcome! In Portugal our anual salary is divided in 14th installments.

Usually June and November are extra income months since we have our 13th (vacation) and 14th (christmas) paycheck months. Its a strange thing here in Portugal to have that separated but i figure it was for some time the only way to make some people account for extraordinary expenses and it was just easier to make it mandatory from a “bonus” in former times. I found this nice website with all info if you are curious.

How about the rest?

This was a soft month. Not much happening since we have now mandatory curfew after 1pm on weekends and at 11pm on weekdays. Nonetheless, we were able to go twice for brunch. As law abiding citizens we adapt :). Crossing between municipalities is also restricted to certain days but i was able to drive to our farm and get some oranges to the whole family.

Reno short update

In the renovation side we got several proposals from the architects which lay down different scenarios for each apartament. Its just the first step. We have now given an overall direction and we saw that some of our concerns (with contructions not legalized) are much lower. This happens because whatever was built in the Lisbon municipality prior to 1950 is considered legal! Lucky us…

We liked a lot some of proposals that consider more light to come in and to take advantage of the view adding to some nice terraces!

Savings Rate

On the saving rate part we managed to save ~43% of our income, considering that we are already including some christmas gifts. This means that we are able to offset last months 0% and slightly increase our annual savings rate to a whopping 36,25%. yey!

A nice scenario is that if we remove the christmas gifts and also the extra paycheck this would mean this month we would be saving ~500€, in line with my estimations but lets have that confirmed next month. Anyhow the conclusion would be that those 500€ means slashing our savings rate in half to ~15% per month instead of the 30%. I will save some of this conclusions for the next year planning.

November Summary:

1) Extra expenses : 504 € in gifts, 2 family birthdays and christmas gifts (the most expensive ones). There should be some other expenses more in the next month. We are still far from the 25th.

2) Projects: Waiting for the payment on 2 invoices (200€ from July and 2.000€ from October).

Now, coming to our monthly networth…


Our Networth value for November is 453 988.21€ (+7 150.94)


Investment accounts

  • ETFs Portfolio: 29 932.00 € (+1379.59)
  • Retirement Accounts (aka PPR): 16 348.80 € (+917.73)
  • Certificates Deposit + Emergency Fund: 51 788.15 € (+ 4 061.84
  • P2P Portfolio: 7 546.99 € ( – )
  • Total Investment accounts: 105 615.94 € ( +6 359.16)

Real Estate (Based on Market Values)

  • Primary Residency: 300 000 €
  • Farms: 70 000 €
  • Rental House: 414.500
  • Total Real Estate: 784 500€


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

Total Assets: 929 615.94 € (+6 359.16)


  • Primary Residency: 189 512.81 € (-349.12)
  • Rental House: 286 114.92 ( -442.66)

Our Networth drilldown looks like this:

You can follow our Networth status always here

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