Monday, 7 January 2019

2018 - FIRE and achievements

In 2018 I earned a total of £26846, out of which £16894 from my 2 jobs (91.3% of my full time job, 8.7% from my part time one).

The internet profit was £3347, with 89% from match betting, 5.8% from cryptocurrency mining and 5.2% from various survey and online activities.

Other small amounts were gained from bank interest (£73), dividends (£13), rental (£6479), Amazon (£29) and money found on the floor (0.25).

My portfolio went down from £29035 to £23359 (after 11.000 gain in 2017), mostly because of my cryptocurrency adventure (basically I won 11k and i lost 6k next year because of the bear market).

Actually I am at 20% of my planned journey, and this year i am quite optimistic, planning to reach 30k at the end of the year.

Sunday, 6 January 2019

December - General overview

My Overview

Total portfolio: £24518 (+288)
Debt: £1159 (+24)
External funds: ZERO
Car: No
Net Worth: £23359 (+264)

Investments UK: £8667 (+452)
Investments overseas : £3606 ( same)
Cash: £1267 (-112)
Pension: £10390 (-52)

Total Income: £1903 (-801)
Passive income: £531 (27.9%)
Savings rate: 12.63%

Side hustle 2 value: £0.31
Side hustle 3 value: £ 464.89 (Profit November 374.48)
Side hustle 4 value: £714 (Funds spent:5079)

This was a good month, and i even manage to finish it with a positive balance, despite a big splash due to Christmas and various birthday. I manage to reward myself with a decent computer, paid over the next 4-5 months courtesy of PayPal, with 0% APR. My investments increased slightly, but the pension fund went down instead of up, with all the uncertainty of Brexit and other industry problems. Betting was fine, even if it was done whenever i had the time. The crypto portfolio increased slightly, but is still far from getting me a profit. I will follow up soon with a yearly overview.

Have a nice day!

Wednesday, 2 January 2019

Another year is gone...

...and i am working out the details related to the finances. I will publish them as soon as i finish it.

Monday, 3 December 2018

November - General overview

My Overview

Total portfolio: £24230(+593)
Debt: £1135(-1056)
External funds: ZERO
Car: No
Net Worth: £23095(+1639)

Investments UK: £8215(-296)
Investments overseas : £3606 ( same)
Cash: £1379(+1018)
Pension: £10442(-156)

Total Income: £2704(+1001)
Passive income: £1070 (41%)
Savings rate: 30.58%

Side hustle 2 value: £0
Side hustle 3 value: £374.48 (Profit October 202.29)
Side hustle 4 value: £683 (Funds spent:5083)

The year is almost over, and i did not get the expected results. For 2019 i will probably stop the cryptocurrency experiment (it was not a loss, but too close to it, as the total gain after one year is probably right under £3000) because the coins market is still pretty bear-ish. Matched betting was good as usual, given the amount of time spent for it. My portfolio had a slight increase, as i try to still save on First To Buy ISA and to pay the remaining debts. I need to re-work my strategy for the next year, as this year one was proved ineffective. Probably i will become a bit more conservative, given the Brexit approach and the complete chaos on shares market and crypto market.

Hope you have good news in the coming year. Merry Christmas and Ho-Ho-Ho!

Tuesday, 23 October 2018

Discussions with a 5-years old

-One day we will die!
-But until then, every other day we will live!

Tuesday, 2 October 2018

August 2018 - Monthly report

My Overview

Total portfolio: £23647(-8672)
Debt: £2191(-1477)
External funds: ZERO
Car: No
Net Worth: £21456(-7195)

Investments UK: £8511(-8701)
Investments overseas : £3606 ( same)
Cash: £341(-362)
Pension: £10598(+383)

Total Income: £1703(-94)
Passive income: £183 (10.77%)
Savings rate: 30.58%

Side hustle 2 value: £4.10
Side hustle 3 value: £103 (Profit July 476.51)
Side hustle 4 value: £913 (Funds spent:4928)

I need to admit that i am an amateur, and all you need is lack focus for a moment for everything to go South. How shall i start? The experts use to state that a catastrophe is usually happening not because of one mistake, but a suite of at least 5 severe mistakes. Under 3 mistakes, we are still able to recover. Let's count my own. First, due to a moment of being distracted and not matching, I lost 400 on betting (Error no.1). Second, as you can see the side hustle number 4, if you did not guess, it is about cryptocurrency. Summer 2017, i made about 12.000 after investing 3000. All of them nicely invested. But Bitcoin was growing so fast, i was thinking that maybe i will make it second time. I did not want to take money from investment, so i made a loan. As you can see, the actual value of my loan is now £913, with 4928 spent. The loan is paid with the money invested on The House Crown, a sum of 5000 used one year ago (interest still to be paid). So i lost approx. 80% of what i invested in crypto. Greed is not always good. Third, the lovely Government found out that i need to pay £2200 as tax from some years ago (4-5 years ago, the last three are not yet calculated). I already paid 600, with everything to be paid in the next 4-5 months. Did i stop here? No, of course, i went to spend almost two thousand on two lovely holidays in August and September. (error no.4). And i used almost 500 from a credit card, with a very low interest, but still, error no.5. This is the story of how my net worth decreased with 25% (I have decreased with 7200 in 2 months).

What did i learn? Do not make any loans, if you do not have it cash, you cannot afford it. Whatever you do, check twice, and if it is to risky, just stop. Or, according to the previous rule, invest what you can afford to lose. Always pay your credit cards in full. And the final one, if you are having not enough cash, do not go on spending free.

Except all this ranting about my loss, the debt is clearing up nicely, the pension increase slowly every months, and my side hustles are not bringing much profit and are just using my free time. I will try a different approach, according to the Pareto principle, focusing 20% of my time on the activity that is bringing 80% of the results, and just stop doing the others. This series of unfortunate events will not deter me from my way, and i am restarting the quest adjusting my strategies once more. Main focus is on building a solid cash reserve, and only after to invest some more. I am thinking of maximizing my TSB account, as they are paying 3% up to 1500 and the Santander123 as they are paying 1.50% up to 15000. If you know a better alternative to keep cash available, tell me please.

Have a beautiful week!


Saturday, 22 September 2018

Relocating as saving option

As i read about some people struggling with the new achieved financial independence (really people, it this a real thing?), i decided to have some test runs, and to live for 10 days in two of the countries i was considering for retirement (this being Morocco and Italy - Sicily). I went to Morocco as i always wanted to see how it is to live in a hot country (as opposed to the rainy and windy Britain). And boy, how i could be wrong, as i am not prepared to live in a hot, tropical country yet. Test success achieved, and some lessons were learned. The second choice was Sicily, as the climate is more friendly, the food is awesome and i could use the full immersion in the Sicilian culture to speak my long forgotten Italian. This time was pleasant enough, and the results were positive, but i'm afraid that i could become bored over time if i lack a clear objective and some activity schedule. But that being said, one can be bored easily everywhere in the world, right. Sicily good points where 3-500 euro monthly rent for a nice flat or small house (why would you need more), food cost was 10-20% less than England if you cook, with 30-50 % less in restaurant if you don't - but still more expensive than the cooking option), the heat combined with a Mediterranean diet is keeping you from gaining weight, and you have seaside swimming ready nearly 6 months per year.

But this came with a cost - £1000 for Morocco and £820 for Sicily, both 10 days for 2 people. And included plenty of trips and exploring. In conclusion, now i need to build my cash reserves back, with should be not so hard as my next holiday is scheduled in May 2019.

Have a nice day!