June 2017 Savings, plus Other Updates

I have two sets of friends with whom I socialise on a regular basis so I ended up celebrating my birthday twice on the town this month!

Why not celebrate with both sets of friends together to save time and money? It has been considered several times in the past but dealing with potential clashes of characters and personalities (with alcohol involved!) really won’t be worth the money saved and is not my idea of fun!

I had a couple of great nights out, and inevitably suffered the consequences afterwards! However, I think I was more worried about my liver/kidneys, rather than my finances!

A Bit About Work

Am pretty settled in now, the days are flying by as I continue to get to grips with different processes, procedures and people.

At the last place I worked, there were quite a lot of folk who were in their 40s or older. At my new place, I’m definitely one of the few ‘oldies’, with most people sitting around me in their early to mid-twenties.

In the run-up to pay day, talk was just of what they were going to spend all their money on – mostly socialising and buying ‘stuff’, with one young chap ordering a pair of shoes costing over £500 (some ‘must-have’ brand I’d never heard of). I didn’t join in when the others had a go at him for wasting his money, for fear I would go into ‘FIRE mode’ haha! Ah to be young and so carelessfree with money!

With both my boss and the rest of the team not being based in the same office apart from on the odd occasion, I’m working pretty autonomously, more so than in my previous job. I think I will appreciate this more as time goes by, although I have to admit that I am actually starting to enjoy my work – not so clueless any more!

I still think it’s bloody hard – coming from a highly regulated environment to one that is not so (yet) regulated isn’t easy and my boss warned me that it could get a little frustrating but to be patient as things were moving towards more regulations and controls. I look at their processes and see so many things which would fail an audit.

I think I’m one of the few people who actually abides by the clear desk policy, which isn’t enforced but it’s how I’ve been working for the past ten years so I continue to do so. Still, it’s far too soon for me to be making major suggestions of improvements but I’ve been making notes for the future, ideas for projects and such like.

The lifts weren’t working the other day so I had to take the stairs. I realised that walking up to the 5th floor isn’t too bad and is a great workout, so from now on, I will climb the stairs every day.

Anyway, I got paid in full this month so how much of my net salary did I save? (no £500 shoes for me!)

I saved 54.6%! My average for the year is now 47.8% so slowly creeping up to my goal of an average 50%.

The above savings includes £100 from matched betting profits, £25 from my Premium Bonds win, £20 lotto win and £57.08 affiliate income from OddsMonkey (thanks to all those who joined via my link – much appreciated!).

When I saw the my wage hitting my bank account, I was pleasantly surprised. Until I realised that this is my pay without any corporate benefits deducted – I’ve yet to join the company pension scheme (although the contribution will be low) and I no longer have the ‘premium benefits’ I used to enjoy, namely medical, life insurance and critical illness cover. Oh and my corporate gym membership was also deducted via salary sacrifice.

Another birthday celebrated, another year older – although I keep myself pretty fit and healthy and have a fairly balanced diet, age will catch up at some point so perhaps I need to consider my own medical cover seeing as I no longer have it. I was given a quote by the insurers who used to provide my company medical cover but it was nearly 4 times what I used to pay! What a rip off! I’ll do a bit of research, methinks.

Future Fund 

I have now shifted what’s left of my severance pay into my Future Fund, giving it a decent boost and it now stands at £119,717. A good step towards reaching my next big milestone!

Dividends and Other Income

Dividends received this month (which will be reinvested): Continue reading

May 2017 Savings, plus Other Updates

Firstly, heartfelt thoughts to the families and friends of the 22 whose lives were mindlessly cut short at the Manchester Arena.

The arena is only 5 miles from where I live, the streets where alleged accomplices of the bomber have since been arrested are ones which I have often driven down. This is scary stuff pretty much on my doorstep but talking to my friends and people at work, there is a sense of strength and solidarity, we will not let terrorism beat us. I would have loved to have gone to the ‘One Love‘ gig that’s on Sunday but there was no chance I was going to get any tickets.

Work and Pay

Well, I’ve been flying by the seat of my pants at work these past couple of weeks. It’s been both scary and a bit of a rush but I did ok! Anyway, it was fortunate that I started my new job just before payroll cut off so I received a bit of a wage in May which I thoroughly deserved, if I say so myself! Woo hoo! 🙂

So, how much of my net salary did I save?

I saved 40%! My average for the year is now 46% so not too far off my goal of 50%. I’ll need to put in some good months to haul it back up.

The above savings includes boosts of £400 from matched betting profits, £28.31 from TopCashback*, £43.50 from football predictions, £69.35 from Google Adsense (my second payment ever!) and £51.36 affiliate income from OddsMonkey.

Redundancy Cash

I still have just under 80% of my severance pay left. I’m going to invest some of it next month but think I will err on the side of caution and leave most of it sitting in cash (premium bonds) for now and review my options when I feel the urge to do so.

I’m not bothered about the crap returns from premium bonds – when I started planning for FI/retiring early, I never thought I’d be including any redundancy money so it’s a bonus already on its own. I think this will bring the cash element of my portfolio to around 14-15%.

I’ve topped up my emergency fund so that it now covers around 4 months’ expenses which seems to be an amount I’m comfortable with.

Future Fund 

With the markets buoyant this month, my portfolio has continued to grow. At the end of May, my Future Fund ended up at £104,753.

Dividends and Other Income

Dividends received this month (which will be reinvested): Continue reading

April 2017 Savings, plus Other Updates

The eagle-eyed among you may have noticed my amended logo to show the new £1 coin – thanks to The Investor from Monevator for reminding me to change it!

Anyway, I have to confess that I have really felt like not publishing this update.

For the past 3 years, I’ve been saving a large part of my salary towards my goal for FI/retiring early and happily documenting my progress on this blog.

This is the first month I have had no salary in over 20 years and I wasn’t sure what I could say, without coming over all miserable with doom and gloom – there’s still nothing on the work front yet although I continue to actively job-seek.

But hey ho, spare me the pity, I’m a mostly glass half-full kind of person and as I said in my last update, my goal to FIRE is still on, just suffering a bit of a ‘blip’, so without further ado…

Bad News Alert!

My savings rate this month is ZERO! 

This is because I have always worked out my savings rate to be what I save from my normal working wage. I know others work out their savings rates differently but I’m just being consistent with my own calculations.   I’m now living off my severance pay – ouch!

All Is Not Lost

That’s not to say I haven’t added to my Future Fund at all this month – I made investments using the following income: £400 from matched betting profits, £92.49 from TopCashback*, £138.47 affiliate income from Odds Monkey, £50 rent received and £40 from a lottery win!

This income is by no means guaranteed on a monthly basis so in the short-term, I’m going to try to continue to invest as much as I can for as long as I can, to keep the investing momentum going. I did toy with the idea of investing nothing while I wasn’t working but that didn’t seem to make sense to me, not when I had the means to make some cash which I did not require to live on.

Future Fund 

After hitting my big milestone of reaching £100k in savings/investments last month, my Future Fund continues to grow, buoyed by the announcement of our own snap election and the elections in France. At the end of April, my Future Fund ended up at £102,023.

Dividends and Other Income

Dividends received this month (which will be reinvested): Continue reading

March 2017 Savings, plus Other Updates

An ‘action-packed’ month, filled with interviews, lots of matched betting, plus a short trip to Hong Kong to see my poorly Grandma (getting better but not fully recovered).

My ‘income’ this month has been derived from the last of my pay-in-lieu-of-notice (PILON) from my last job.

So, how have I done in March?

After last month’s record-breaking savings rate, it’s back to a good solid savings rate of 58.6%.

This pushes my average savings rate so far to 64%.

As I’m still only at interview stage with regards to my job hunting, it’s highly unlikely that I will have a salaried wage in April.

As I have always worked out my savings rate to be what I save from my normal working wage, this means that my savings rate is going to be a big fat ZERO! I know others calculate their savings rates differently but I’m just being consistent with my own calculations.

I think I’m likely to continue to invest using matched betting and other income – I guess others might not save/invest whist unemployed but I feel that I need to keep the saving/momentum going, even at a reduced rate. At least in the short term, anyway.

March’s savings was boosted by the £50 I won in Premium Bonds, £50 from rent received, £292.40 Jobseekers Allowance (ahem, continuing to make the most of ALL my income while I can), £14.62 from TopCashback*, £250 matched betting profits and I was lucky on the lotto again so another £10 win has been chucked into the pot too.

Future Fund 

As mentioned in my last post, I hit my biggest milestone so far, that of reaching £100k in savings/investments. With Brexit triggered and more Trump shenanigans in the news, the markets wobbled a little but my Future Fund ended up at £100,442.

Dividends and Other Income

Dividends received this month (which will be reinvested): Continue reading