Early Retirement Finance Update November 2018

I’ve finally completed my first full ‘settled’ month in my new house since moving out of my last flat in July of this year, my first full ‘settled’ month since June….

I say ‘settled’… somewhat ironically November actually involved almost two straight weeks away, going to a long weekend beerfest in Kent, then back for just whole day before travelling to SteemFest.

Still, it gives me some idea of ‘where I’m at’ for 2019: I imagine most months are going to look fairly similar as I hunker down and try and get my damned mortgage paid asap, ideally within 5 rather than ten years.

November 2018 approximate total expenditure… £1545

I think, the maths don’t quite look right there, but somewhere around there!

‘Fixed expenditure’ = £965

This is the expenditure I can do very little about… it is what it is! My mortgage payments are down £400 compared to my last flat, and there’s no evil £200 a month service charge (after heating costs), and no NUT sub either, although I’ve added on a £30 month repayment to Barclaycard – they had an interest free for 18 months deal recently, so I took advantage of it! Overall, £600 less than it used to be!

Day to day expenditure = £560

Quite pleased with November, I fully expect December will be much lighter on my wallet, and January, Feb and so on.

I did actually buy quite a lot more stuff, but I’ve included this in my ‘transitional/ liminal fund’.

I’d paid for SF in advance, so I didn’t include it here.

I don’t usually spend that much on clothes, but I really NEEDED some jackets.

November Income and my income deficit! 

From resource sales = £500

From advertising revenue = £0

From steemit = £0

OK so I’ve got a massive income deficit ATM. However, I realised a few days ago that the display ads option on WP had turned itself off when I upgraded (I WILL be having words about this at some point), so hopefully this will go back up to £500 by January.

I’ve got £5700 floating around various accounts as a buffer, so IF I get my ad revenue back, and I have to ‘sub’ £500 a month from savings, I could potentially last around another 8 months: I need £1500 in the accounts to ping back and forth, to avoid fees and get the best interest deals, so it’s really only £4K I’ve got as a sub.

I’ve got a lot more than this invested, so I could ‘draw down’… the £4K is just ‘written off money’ – it’s going to get spent!

  • If I need a £1K sub/ month I can last four months, until End March
  • If I need a £500 sub/ month i can last eight months, until July.

TBH, revision season kicks in from April, so I should be flush for that, then exam marking, and so IF i need to increase my income, I’ve got until Sept/ October to figure out some funky kind of online tuition thang.

I’ve written off steemit as an earnings source for the next few months.

November 2018 Total Net Wealth

Total net wealth for November = 170050

This is a £950 decline since October, due to the decline in crypto prices, offset my small gains elsewhere.

NB – I might have to make a slight correction downwards in December, I can’t actually find my access code for one of my accounts, so I guessed the amount.

Final Thoughts…

No need to panic, yet, but I will need to increase my income for September 2019 if I don’t want my wealth to be eaten into to meet the costs of just living.

If you’re my mortgage company, this post is completely hypothetical and written purely for educational purposes.

 

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