How do you deal with work and money for now and in the future? Do you live one day at a time, or are you diligently planning your financial future? And do you arrange ‘later’ yourself or are you participating in a pension fund?
Sabine Samsom works as a financial coach and rents out five houses.
Sabine Samsom (39)
Profession: financial blogger and coach
Weekly works: 30 hours
Income: next to nothing from work yet, but 4,000 euros from renting out houses
Savings: 1,500 euro
Pension arranged? In a way, yes
What kind of work do you do exactly?
“At the moment I write blogs on Financequeen.nl about personal finances and I work as a financial coach. I help people deriving more benefit from their money. I also hope to be selling products through my website in the future, such as e-books or courses.
What is your background?
“I worked at ING for more than ten years, mainly in the position of financial advisor. That's where I learned all the theory about finances. I have always been actively involved in exploring opportunities for people to save money on in my private life; that's not something you will necessarily learn from working at a bank.”
How much do you earn?
“Next to nothing yet. I am doing some coaching for the amount of 80 euros per hour, but that's hardly worth mentioning yet. I am still building my business.”
How do you make ends meet?
“Throughout the years, my boyfriend and I bought five houses in Amsterdam. Twelve years ago, we decided to start living together in Ouderkerk and to keep my apartment in Amsterdam to rent out. The mortgage on our new house was quite favorable with a variable interest rate, meaning our monthly expenses decreased rapidly. Our two good incomes - my boyfriend is IT consultant - made it possible for us to save a considerable amount of money. In 2014, when the housing prices were much lower than today, we bought another apartment. We took out a separate loan to make that purchase possible. After we paid off that loan, we bought a third apartment. Later on, we found a way to buy two more apartments. We rent out the apartments to expats and students, which earns us approximately 4,000 euros per month. That income provides us with the freedom to build up my business without having to earn money straight away.”
Are you satisfied with this income?
“Yes, I am very satisfied. However, we would like to move some day, so some additional income would be welcome. But I am aware of the fact that we already have an income many people can only dream about.”
How much do you pay on fixed costs?
“Privately, apart from the rentals, our expenses are very low. About 950 euros per month in total. Due to the variable interest rate on our mortgage, that amount differs every month and we recently only paid 145 euros. Our children are attending primary school already, so we don't spend money on childcare. Those two things are usually the highest cost items to many people. I am very actively working on lowering the fixed costs. I make sure we don't have any unnecessary insurances for instance. Only insure what you cannot bear yourself, I always say. I would therefore never take out insurance to cover my bicycle or telephone, but I do insure my household contents. And instead of an expensive television subscription, I have NLZiet which doesn't even cost me 8 euros per month. That allows us to watch and look back all the Dutch channels. It saves us a lot of money.”