We are half way through the year and if like me you are wondering “where did it all go?” and “what have I got to show for it?” you’ll enjoy this post.
Headlines: Net worth was up about 1.3% and still 2% below the December peak earlier but 6.5% up from the trough in March. Our jobs are not secure but at least the weather’s good. Dividends beat spending for the second month in a row.
Income: Earnings were pretty steady. But going forward I expect to be out of work which isn’t good, the Lady will be out of a job by the end of the year (but will get redundancy + 50% bonus pay until then) and is actively looking for a new one. I don’t know if I could find a relevant job and since full-time blogging is maybe a bad idea, Plan T might be the best course of action if I need it.
Spending: This month was an expensive month. Spending was around £3,000 thanks to in part to annual car insurance, new tyres and the chartership fees for the Lady in the CIM. Who ever said that there was no such things as a one off bill? Next month will be even worse! We had a £900 car repair bill this month to be paid off on the credit card next month. Plus the nurseries are back soon which means £££.
Dividends: We’ve done really well with dividends this month with a very grand total of over £3000 and for the second month in a row, greater than our spending! Long may it continue! Numbers were flattered by annual returns from West Solent solar (£350) and Rumbling Bridge hydro coop (£500).
Investments: I half filled up my ISA this month, investing in a very boring ETF and reinvested some money in my SIPP. That’s all. I’ve stopped paying into my SIPP from our company to preserve cash. I reckon I’ll be out of work in the future and I need to retain enough money to pay tax, salary and expenses. What happens to the company if I’m out of work for a long time I don’t know – but I aim to have enough retained to keep paying a salary every month for a while. I’ve cut back on dividends too.
I’ve written down the value of our house by 3% a month for the rest of the year as well – maybe a bit overly cautious but flattering my balance sheet just to feel good is pointless.
The Month Ahead:
- We’re actually going on holiday this weekend! Woo Hoo!
- Our mortgage holiday is coming to an end. Boo Hoo!
- We’re looking at around £10k of home repairs too over the next few months.
- My work is slowing down and I should have July off (or forever off)
- The world is slowly reopening so I hope that it’s a nice Summer.
How was your month and what are your summer plans?
*Pre-pension funds personal withdrawal rate – can’t think of an easier way of saying that.