It was always going to be tough to follow last month’s excellent savings rate but how did I do in April?
Three birthdays this month meant that my savings rate dropped down to 43.6%!
A rather significant fall from last month but in line with my usual and it means my average savings rate now stands at 51.9%, so still on target.
This month’s income was boosted by £50 from rent received, £100 gambling winnings (my horse won in the Grand National!) and £41.92 from TopCashback*.
Rising markets plus new capital means that this now stands at £66,386.77.
Dividends and Other Income
Dividends received this month (which will be reinvested):
So a total of £94.90, a record breaking month for me and oh so close to £100, which I hope to hit at some point this year. A massive year on year increase, compared to last April’s £18.60 – much of the income has come from my ETFs, which I purchased when I transferred my Scottish Widows personal pension into a SIPP.
Total dividends received this year now stand at £173.51, still quite a bit away from my goal of £720, with 3/4 of the year to go. Average dividend income so far is £43.38 per month, average over 12 months now at £14.46.
I also received £13.01 interest from my P2P investments. Oh, and also £50 P2P referral from LandBay* (thanks Mark!)
I think I’ve gotten to grips with this, although I’m probably not doing quite as much as I could/should to make the most of the offers available.
That said however, I managed to make £409 profit this month, making my total earned from matched betting £766 since I started in March.
I’ve come to the conclusion that I’m not going to make huge amounts from this but it earns far far more than any other ‘hobby’ of mine so I shall persevere. I know the potential is £1k-£2k a month (which is what Guy is raking in), but I’m quite happy making a few hundred to be honest.
I will try to see if I can earn £500 profit in May though, especially as I’m likely to be limited in my matched betting antics in June and July.
One interesting note is that last month, my earnings were pretty much entirely from new account sign up bonuses. This month, I only received bonuses from opening two new accounts, the rest of my income came from reload/repeatable offers with existing accounts, so I guess this shows that beyond new account sign ups, there is still money to be made.
Matched Betting Don’ts
Most of my matched betting is on football (99%); my forays into horse-racing haven’t been so successful so I don’t do too many of those – I did make a bit of a profit on the Grand National but actually made more via normal gambling!
When I was reading up on matched betting a few months back, I came across a comment from someone who said that one of their big ‘don’ts’ was “Don’t do matched betting whilst drunk“. Good advice, I thought!
However, as mentioned in M’s recent post on the subject, I also learnt that hangovers don’t mix with matched betting either!
You know the score – out after work with colleagues…yes, it was a pub crawl but my plan had been to have a few to show my face/network and then sensibly head off home early.
As it was, I lost all sense and didn’t roll home til around 2am and was consequently too hungover to get out of bed to put my free bets on for the early kick-off on Saturday afternoon! When I did eventually crawl out of my pit, I made a mess of a lay bet but was saved when the result went my way – phew! So…I’ll not be out late on a Friday night in a hurry, not when it’s effectively losing me money!
Anyway, as I continue to build up my matched betting pot, I won’t take any profit out just yet.
Shares and Investment Trusts
Just the one investment this month, in Legal & General Group plc. My ISA for this year will be with AJ Bell YouInvest so I won’t be investing in any funds, just ETFs, shares and investment trusts, all of which should help increase my dividend income.
Current portfolio can be found here.
Non-Financial Goals Update
Here’s how things look on the goals front in brief:
It looks like I may have to dip into the emergency fund again soon (possibly another dental expense…yikes!) but I’m well on track to reaching my goal by the end of the year.
Still no progress on the reading front as I’m still wading through (again) the Game of Thrones books (halfway through book 4 now!). It’s looking like a very ambitious goal right now but I’ll see how I get on – less TV watching should lead to more reading!
Anyway for those of us who don’t have to work on Monday, hope you enjoy the long weekend!