Welcome to the first income report……
As this is the first one I think its worth breaking down all the income as im not effectively enough tracking my expenses…..yet. I will work on this for next month!
As this is the first one….it’s a little rough.
Savings: £850
Split £250 towards cash savings, £600 across a range of index trackers.
Primary Income: £1625
This is the income generated from my contract work for a marketing agency. This figure should start to grow over time as they take on more clients.
Freelance Income: £785
This is made up of some proofreading work i have been doing and an external client i’ve been managing their SEO for the last 4 years.
Rental Income: £1000
My flat continues to perform well and generates a nice steady income that primarily is being used to pay off the mortgage so that i can own the property outright in 10 years or less. The rest of the rental income comes from renting out rooms in my houses. Househacking is a great thing….providing you don’t mind sharing.
Savings Rate: 24.92%
Other Income: £7900
Breakdown – £7400 whisky, £80 we buy books, £420 ebay
This month I sold off a substanital portion of a whisky collection i invested in 8 years ago. I made a great profit on this lot despite selling to a retailer so was happy. This is part of my mega-clearout of my house and part of my exploration of minimalism as a way of keeping your necessary expenses low and your consumerism at bay. I also continued selling odds and sods on ebay and can see having my office cleared in 3-5 decades at the current rate….may need to up the game. This money is currently earmarked to either invest in another property or to pay down my current mortgage….more on this later.
Networth
Savings: £20402.50
Investments: £19141.01
Sipp: £2000
P2P/Crowdfunding: £4008.94
Investment Property:£60000
Premium Bonds: £2150
Total: 107702.45