With three back-to-back weekends away on social activities in August, I thought my savings rate was going to take a massive hit. However, I forgot that I’d applied for my gym rebate at work and with the expenses from my most recent weekend being carried over onto next month’s expenses, it looks like I had a surprisingly great August:
A savings rate of 52.2%, which is my second best this year!
This takes my average back up to bang on 50%
I will savour this rate right now because I can assure you that it will be dropping dramatically over the next few months due to a change in priorities, which I will explain in a future post.
This month’s savings was topped up with £12
reviewing music (and occasionally, ladies fashion!) with SliceMyPie
* and £50
from rent received.
Also, note that the above figure includes £500 that is now sitting in my investment account ready to purchase the shares I picked in York for my Monkey Portfolio! Since I get paid in the middle of the month, I’ve had to use August funds for the investments to take advantage of the regular investment service.
Future Fund and Net Worth
The global market has been all over the place this month and it has been pretty tough looking at all the red numbers. I haven’t been tempted at all to sell my investments though or regret my investment decisions. Unfortunately, I didn’t have spare cash lying around to take advantage of the big dip in the market.
My Future Fund now stands at £42,145.28, a slight drop of £336 from last month. If you factor in what I saved this month, then it’s a bigger drop but nothing to get me sweating or worrying needlessly.
To get to my year-end goal of £50k, I’ll need to get an average increase of at least £1963 per month over the next 4 months. A rather big ask that is dependant on the markets and my savings rate but let’s see what happens.
Net Worth is now £112,245.84, an increase of 25.8% so far from the start of the year.
Another big jump from the previous month because I have finally paid off my car, so that’s over £3k of debt wiped off – woohoo! 🙂
I will now divert my old monthly car payments towards investments but will also be putting some towards a ‘maintenance fund’ to cover any unforeseen repairs and also some towards breakdown cover, which I previously got free as part of my loan repayments.
Dividends and other Income
I received £10.68 from De La Rue, £10.97 from Vodafone, £3.18 from British Land Co, £2.85 from City of London IT, and £1.76 from Bankers IT.
So a total of £29.44, bringing my monthly average now to £22.82. Next month, I will be able to do my first year on year dividend income comparison!
Dividends received in 2015 now total £182.57
Oh, I also received another £50 P2P referral from Funding Circle, thanks to Graham!
Shares and Investment Trusts
I topped up my holding of BHP Billiton plc and also picked up a few shares in Bloomsbury Publishing Plc (BMY) to use up a bit of tax reclaim sitting in my SIPP. Unfortunately, both purchases were made early on in August before the drop in share prices…ah well, such is life!
Non-Financial Goals Update
Food/Groceries Budget – I spent only £79.18 this month, averaging £19.80 per week. I’ve been making use of food that’s in my freezer, which has kept costs down, plus I shopped less as I wasn’t at home most weekends. My average weekly spend so far is now £22.99 so still on target.
Cooking Recipes – I didn’t manage to learn any new recipes this month, so will have to catch up next month!
Online Earnings – Still very much behind on this one but a small amount came in this month from TopCashBack as listed above, bringing my total online earnings so far this year to £188.45. I have about £90 in the cashback pipeline, which I will log as it gets paid out but sadly, I’m nowhere near my over-optimistic £500 goal.
Library books – Two books borrowed and read this month. 12 books borrowed so far, so I’d say I’m still on track to hit my target of 20 library books by the end of the year.
Here’s how I’m doing against my goals in brief:
Two greens, in particular my savings rate, makes this a very good month!
I’m currently working on reading my ‘personal finance/investing book’ so hopefully this is a goal I can cross off next month.
Hope everyone had a great August and bank holiday (if in the UK).