Our Numbers – from the very beginning …3 min read

Our Numbers - From the very beginning - Cashflow Cop Police Financial Independence

 

(no. 006)

After giving it some thought, I have decided to share most of our numbers apart from our net worth.  I hope the numbers I have decided to share will help to provide some context into how we are hoping to achieve FI.  I will continue to update this page which will provide a summary of our numbers as well as a timeline of our journey towards FI.  

You can see our numbers in more detail broken down for each tax year by clicking on the relevant buttons below.  I will document from the tax year 2016 – 2017 onwards.  In all honesty, I just haven’t got the time write up everything going back further, but the summary on this page should give you an idea of how we managed our finances before we found out about FI.

 

Savings Rate

Whilst I was studying, my savings rate was zero.  It is not something I am proud about and in hindsight, I should have set some money aside sooner for an emergency.  However, I did manage to save up for a Masters degree without taking on more debt to fund it.  As soon as I started working properly, I really focused and started to squirrel away money properly.  In 2015, our savings rate jumped because Mrs. CC and I decided to pool our resources together.  To this day, we still ask each other why we waited so long?!  Perhaps it had something to with our three or four holidays a year.  We have actually returned from holiday to immediately take another flight to go on another one!  That’s a story for another time.  

The chart below shows my savings rate since I was old enough to work.

 

Savings Rate - Tax Year 2000-2017 - Cashflow Cop Police Financial Independence
[Updated – 26/05/18]

 

Consumer Debt

Mrs. CC has never had any consumer debt.  She has used credit cards, but only to obtain points and she always paid off her balance in full every month.  The chart below shows my consumer debts over the years.  The total includes my credit card debts, personal loans and student loan.  We currently have no consumer debts and I have no intention of taking on any more in the future.  

 

Consumer Debt - Tax Year 2016-2017 - Cashflow Cop Police Financial Independence

 

Mortgage Debts

We see property as a valuable asset class which helps us to diversify.  The chart below shows our mortgage debts over the years.  We are currently aggressively playing down these mortgages.  In the interest of transparency, I was only able to buy Property 1 due to a small informal loan which I have paid off.  Property 2 was purchased with my parents.  They own a 20% share, with myself and Mrs. CC owning the remainder 80%.  Property 3 was purchased with a small inheritance Mrs. CC received together with some savings.  We both acknowledge and are grateful for what we have and what has been gifted to us.  Receiving an inheritance comes with it alot of responsibility.  We are very conscious to ensure that we not only protect this inheritance but ensure that it grows for future generations.  We were not tempted in the slightest to use a single penny of it to go on holiday or buy a new car.  I will write about this more in another post.  The chart below also shows the predicted mortgage balances over the next few years. 

 

Mortgages - Tax Year 2016-2017 - Cashflow Cop Police Financial Independence

 

Timeline

The timeline below shows our personal finance journey and our discovery of FI.  Some of the dates I have selected a random month or day as a precaution to disguise our identity.  

Hello Cashflow Cop!

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Cashflow Cop Joins the Police

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8 thoughts on “Our Numbers – from the very beginning …

  1. weenie Reply

    That interactive timeline is bloody brilliant! Thanks for sharing your journey from the start with the numbers!

    • Cashflow Cop Post author

      Hi there LMF. Thanks. I used a free plugin called Timeline Express in WordPress. It’s quite easy to use once I got over the initial how does this all work moment.

  2. SpreadsheetMan Reply

    I’m late to this blog, but – awesome timeline!

  3. {in·deed·a·bly} Reply

    Wow, that timeline is a really effective presentation mechanism, tells your story well. Also love the design of your blog, easy to read plus feels clean and inviting. Well done!

    • Cashflow Cop Post author

      Very kind of you to say. Improving my writing is what I am working hard on and the blog helps me do that. Well done again on your nomination!

  4. Kate Reply

    I’m really excited to have found your blog! While I’m not a police officer, my brother is, and I know how stressful his job can be. I’m a teacher on my journey to FI as a mommy to four kiddos. I write about how teachers can take charge of their money on my blog http://www.financialindependenceforteachers.com. I love that even though both our careers don’t generally yield a lot of money with future planning we can still get ahead!

    • Cashflow Cop Post author

      Thanks for spotting by Kate. My older brother is a Chemistry teacher so I also get how tough your job can be. I know for a fact I can’t do it – I just haven’t for the patience to deal with unruly kids.

      I agree. Although generally our professions don’t make much money, with a solid plan on place, it can still knock many years off the date to retirement.

      I’ll check your blog out.

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