I’m going to try and actually keep up with these moving forward….I swear.
Summaries this month aren’t great;
Income and Savings
Job Income – £3950
Rental Income – £1375
Investments – £0
Non Rental Passive Income – £0
Other Income – £0
Money Saved – £2500
Hang on a minute you’ve just saved £2500 and not invested it – what you playing at!
Well it’s all got a bit complicated. I’ve got to build a new garden wall and need to put money away for a major renovation on this house in the next year – a whole new kitchen extension that will involve new walls, roofs and an internal fit. Estimate around £40,000 but will be trying to DIY it as much as possible to bring the costs down. At the same time I’ve been offered a new job In a city about 2 hours away from where I live…..so I may need to partially relocate there a few days a week – I’m not a fan of renting so may need a deposit for a flat. This means the investing has had to go completely on hold in the short term. I’m making up for it by working on some serious side projects….including, of course, this website.
Savings Rate
The savings rate here looks pretty good at 47% but it’s actually not that good. As i’m self employed my earnings are pre-tax so realistically it’s closer to 27% – definitely need to do more here!
Spending this month
With Covid I’ve overall been spending less with a few takeaways from my local pub and some computer hardware upgrades being the only real splurges. I did take my Kayak out for the first time this weekend which was fantastic and expect travel expenses to go up a little now that lockdown has eased a little. As I’ve said before I’m not currently tracking all my expenses for sanity reasons so unlike some more fastidious people you won’t get any exact numbers on this.
Investments this Month
I’ve been trying not to look at the stock market too much recently and think we are still in for a pretty rough ride over the next few years. I topped up my account with £10,000 at the start of the ISA year and will try and put more in if we have a big drop – otherwise for now this is definitely on a back burner.
Index Funds – £30804.76
Up a good amount this month so happy times. Not counting any chickens here at all.
P2P Investments – £4203.27
Small and steady returns here but its working as a good emergency fund.
Invest in Ratesetter here and get a £100 bonus taking the ROI for the first year to 13-14%!
Premium Bonds – £2450
Nothing to see here – I really should move this money out of this account but a little gambling isn’t the end of the world.
Networth
Total networth at the end of May is around £100458.03 (That 3p is important shh) including the money in rental properties. Hitting that first 1k is massive for me and it’s taken far too long.
Next Months Aims
To be honest next month my aim is to keep saving money and not investing it. I’m aiming to get 8 posts minimum on the site with at least 4 of them being long form posts on saving and investing. I’m working on adding some affiliate links to the site to start generating some money. I’m also working on a couple of side projects to generate semi-passive income including a community game server and something more substantive i’ll reveal a little further down the line!