Hello mustachians of the world!!
Any Spanish mustachians out there?
I've discovered MMM a couple months ago after a rough financial time and I've been reading the archives non-stop starting from the first post.
A bit about me: I'm living in Barcelona, Spain, but I'm originally from Venezuela. While this is still comparatively one of the richest regions of the world (Western Europe), with a solid currency and a strong culture of saving (Catalonia has been home to most of Spanish industries and capital, and is now an important hub for IT companies), the challenges a mustachian faces here are different from the ultra-consumerism in the U.S. Namely: A not-so-free economy, lower salaries, larger tax retention, did I mention lower salaries?
My current net worth is: Zero. I've been saving for the past 3 months on an intern's salary and have managed to save 200€/month from my 900€/month salary (no tax deduction yet). My next financial goals are: 1) To have a 1.000€ "emergency fund" 2) to have 4.200 € to cover for 6 months expenses in a savings account, 3) To get the minimum 3.000€ to invest in an index fund and start growing my 'Stash.
For this, I can expect to make: 900€/month for the next 6 months and, after this, probably 1.300 €/month for the first year. It would take me 1 1/2 years to open my Index fund. Spain is just recently recovering from the economic crisis, so I'm still not sure what I can expect to make here after the next 1 1/2 years, or if I'd be better off moving to another European country. I'll be 28 years old pretty soon, which means I won't be starting to grow my stash until I'm 30.
The positive aspects:
- I have no debt
- I have a University degree and a Master's degree
- I'm about to finish my 1st year of work experience
- I'm an avid reader and a keen learner. I work in an exciting start-up with professional expansion possibilities and adding to my career value. I'm constantly learning new skills and making professional contacts, though this is still to start making actual money for me.
- My girlfriend has her own business which is construction-related so we have advantages if we wanted to enter the Real Estate market.
- My girlfriend is a good saver, though we still need to have "The talk" and start saving more aggressively,
The not-so-positive aspects:
- For the time being I'm forced to keep working as an intern due to visa procedures (it's like fighting a battle with one arm tied to your back).
- Very little savings.
- Had a few setbacks which made start working and saving a bit late.
Wow that was long! If you read this far I appreciate you taking the time.
I want to meet mustachians to share our goals and motivate each other, especially in Europe/Spain so we can share tips about Old-continent Mustachianism. Feel free to get in touch with me.