Another busy and eventful month in August.
We took advantage of the Eat out to Help Out scheme this month. We made the most of it and went out a couple of times each week, as it is usually too expensive as a family of 8 to eat out.
The kids (#3 and #4) went back to school. Hurrah. They needed to go back really as, unlike #5 and #6 who are home educated and can self motivate, they need the structure of school to keep on track and do some kind of work. Also, #3 is in his final GCSE year, though we do not know yet what is happening with exams this time around.
It has been a bit more difficult around the house the last few weeks, as Mrs FU broke her ankle after I persuaded her to go out for a jog with me (my fault!). So she is hobbling around on crutches for 6 weeks whilst she recovers. Luckily it is a clean break so there are no complications.
FU#1 is still looking for a job. He had an interview last week which went well and he was hoping to hear back this week but he is still waiting,
On the property development front I have had initial designs drawn up, but these needed some changes, so I have yet to approve the final design before submitting to planning.
The Numbers
FI Target – £1.25m to give £50k/year income @ 4% withdrawal rate.
Current FI value – £575k networth+ £455k (2xState pen £18.2k x 25) + £87k (DB pen £3.5k x 25)) = £1.11m
% to Target FI – 89% (no change 89% last month)
Time to FI = 3 years (assuming 7%/yr. growth in net worth)
MONTHLY UPDATE AND GOALS
Last months figures in brackets
Net Worth Aug ’20 – £575,970 (Jul ’20 £569,001) +1.2% +£6,969
Assets – £801,788 (£796,696) +0.6% +£4,819
Cash/bank £7122 (£6667)
Main Home Q2 £424,428 (Q2 £424,428) 0% +£0
Rental Properties Q2 £175,077 (Q2 £175,077) 0% +£0
Pension SIPP £195,161 (£190,797) +2.3% +£4,364
Liabilities – £225,818 (£227,968) -0.9% -£2,150
Main Home Mortgage £86,050 (£86,400)
Loans, Debts and credit cards £139,768 (£141,568)
Overall Net Worth in August has risen by £6,969.
Liabilities were down by just over £2.1k.
Assets increased in value by £4.8k as stock markets continued to recover, benefitting my SIPP. Cash in the bank increased by nearly £500.
Rolling year on year change in net worth from July ’19 is +£55,189 (assets +£36,798, liabilities -£18,391)
Since we began tracking our net worth in June ’18 our net worth has increased by £161k.
Property
YOY house price change +4.8%. (Q2 2019 – Q2 2020 NW England)
The Equity in my main home is £338,378.
Main home and rental property values will be updated when Q3 figures are released, calculated using the Nationwide House price index .
Nationwide’s August ’20 update says house prices in the UK rose in August by +2%, partly due to pent up demand after easing of lockdown.
The UK annual % change in house prices is +3.7%.
Dividends
SIPP Dividends paid in August were £603.
Dividends August 2020 YTD total £3725, Av. £466/m (July 2019 YTD £1050, Av. £150/m)
(Yearly totals – 2016 £425, 2017 £911, 2018 £1306, 2019 £2319)
Other Monthly/weekly goals
Matched Betting +£506 this month (+£285 last month)
Good profits this month. We are still only doing casino offers.
Total to date since starting 33m ago £12390 Av. £364/m (£11884 to last month Av. 360/m) means we made £506 profit this month, broken down as follows.
Casino/slot offers to date £5841 (5334) = £506 profit this month
Each way sniping to date £625 (£625) = £0 this month
Normal match betting offers £0 profit this month
Diet and Fitness – Eat out to help out was the culprit this month which meant I gained a little from last month. I went up to 70kg and 16% body fat (68kg, 15% body fat last month).
My target is to get to 65kg and/or under 12% body fat.
eBay/selling – Nothing to report this month.
Keep healthy and safe everyone.
Any comments/questions always welcome
Monthly Net worth since started tracking
#20 April ’20 £534,439 +£32,858
Great update and good going on the matched betting.
Also, congrats on Son#1 getting the job! (following interview you mentioned above).
Strange year but there are still good things happening!
Here’s to a speedy recovery for Mrs FU!