Thursday, 27 July 2017

Financial preparation

You need to learn always, and to know what is it going to happen around you. Crypto-currency, tech, electric car laws, anything that can have a major impact on economy, you need to see it before the general public. Only if you are prepared you can survive in the today's world. Everything is happening so quickly, that 5 minutes can be the difference between going broke at 85 or living a meaningful life until 102. The little holes can sink a ship. Beware!

I will end this up with a nice Japanese story.

"A student said to his Master:
-You teach me about fighting, but you are talking about world peace. How do you reconcile the two?
The Master said:
- Is it better to be a warrior in the garden, or a gardener in a war?"

Tuesday, 25 July 2017

Adjusting to the incoming Brexit

I am trying to find new ways to improve the elusive Net Worth.

Until now i am looking to sell the car and buy a monthly bus pass. This will half my expenses with transport or even better, estimating value is £46 instead of 80-100 per month.

I am looking to finish with one side hustle, the one that i set the money aside and prepared for it, but i never started, while i will also try to improve another side hustle, the matched betting, by setting a plan and increase the monthly income.

I am also trying to simulate a way to find out what is cheaper, to do major repairs and cosmetic adjustments to the house, or try to rent another close to work, cutting the transport also. Still looking for different ways to do it.

If i manage to solve this until the end of the year, i will be proud of me.

Thursday, 13 July 2017

The cryptocurrency adventure

At the beginning on May i invested approx. £3200 in a new cryptocurrency called Ethereum, and i paid an exchange rate of £36 per 1 Ethereum. My deposit run fast to almost 22.000 pounds, but i was greedy, waiting for a bit more, and after few unfortunate events such us a fake news about the dead of the Ethereum public face (which was not true, but resulted in 10% price drop), and one 10 seconds spike from £299 to 0.10 and back, the value steadily decreased, trying to reach some equilibrium value. Today i decided to take my money back, and i just get £9800 sent to my bank. I was hoping to make at least £500, but in the end i got a £6500 profit for 75 days, which is an annual ROI of 31633%. Out of my last side hustles, this is, surprisingly, the second best. With the worst of them hustles resulted in losing £600, and other making zero profit (never started), the three remaining provided a decent return.

I personally think that the potential for any cryptocurrency is to invest at the moment of the ICO (initial coin offering).

Tuesday, 4 July 2017

June 2017 - Monthly report

June 2017 - Monthly report

My Overview

Total portfolio: £32509 (-806)
Debt: £2868 (-710)
External funds: ZERO (-450)
Car: £500
Net Worth: £29787 30141 (+354)

Investments UK: £20603 (-1030)
Investments overseas : £3248 ( +/- 0)
Cash: £841(+21)
Pension: £7301(+203)

Total Income: £2831(+1351)
Passive income: £1642(58%)
Savings rate: 26.13%

Side hustle 1 value: £392
Side hustle 2 value: £2.3
Side hustle 3 value: £433 (Profit May-215)

Working on to reduce the debt, while still making the best out of the loan (reduced with £1160 this month). While the portfolio decreased with £806, the Net Worth increased with £354. So, it is still a win. The cash available is along the same values (+£21), and the pension slightly increased. The income this month is considerable higher, as as withdraw some money from the Ethereum account, in order to use it for a future hustle. I made a good £435 from side hustles this month, using some trials to find a better way to do this. I will probably look for liquidating the side hustle no.1, as it was never started as a business. July should be a quiet month, or not. We will see what future brings!

Good luck to you too!