July was an expensive month! A great month for what we did together but some long time coming spending came to bite us. It was also the 1 year blog anniversary – I hope you’ve enjoyed reading.
It’s maybe good to look back at what we did as a family this month at this point. With the Lady still off work on maternity leave, she’s been stuck with the kids 24/7. The long days and warm weather has made it easier to spend time outdoors and we’ve done some fun hill walks and we also bought a bike trailer for the kids! £120 well spent in my view. Here’s a picture of the kids at the Falkirk Wheel.
Income – Steady
More or less steady. The Lady got a surprise £100 from work as the company is doing well – although her maternity pay is Zero. We also made some money from AirBnB again! Woo Hoo!
Dividends – Super
Good performance with over £1,000 from P2P lending (thanks Abundance) and £800 from VCTs.
Outgoings – Too high!
Total spend of around £3,500 (with the 6 month average being about £2000)! Big credit card spending this month with travel being the biggest category including our ski trip, and an upcoming trip to Italy. Other notable spend was on a bed and furniture for the house – probably overdue. I also bought two new pairs of shoes to replace ones I bought in 2013. I could amortize the cost to lessen the blow! But I took enough stick for doing that with the car depreciation – I’ll just take the £100 hit this month and keep on walking.
We did have a great trip to London/England in July for work/pleasure and to see some family. Whatever the cost it was worth it.
Savings Rate, SWR & Budgeting – Complicated
Our savings rate was 18% this month with a 6 month average of 67%. Why the big difference? We had 6 lean months of low spending and our income is down due to the Lady being on unpaid maternity leave. Our 6 month average withdrawal rate was 3.1% on total assets but 7.4% on Fire Funds.
I expect the next two months to have higher spending as we have holidays planned back to the homeland and to Italy in August/September and later this year we pay off the ski holiday. I expect that we’ll be back to “normal” by the end of the year. The biggest change will be childcare costs as the Lady goes back to work and the Master and Little Lady go into a nursery. That’ll be around £900 a month and a good use of our childcare vouchers that we’ve built up but never spent.
Assets, Net Worth & FIRE funds – Steady
Networth rose 1.0% month on month and 8.6% year on year. FIRE Funds were DOWN 0.6% due to stock price movements and as I took some bad debts on P2P lending – although they may come good yet.
Housing is expensive and travel is expensive (especially with a growing family). They conspire to rob you of all your money. I try to be as frugal as possible and this month a lot of the costs were a long time coming (like a new mattress). But I think that our early booking of the ski holiday has already saved us maybe £1,000 – so you’ve got to take the rough with the smooth.
How was your July?