Net worth update: June 2017

Net worth update (1)

It’s my favourite time of the month, where I get to update on the progress towards our goals! After having a negative result at last month’s net worth update, I am pleased to say we are very much back on track. Our net worth increased by £4,962 (or 7.8%) from the previous month and we managed to overpay an extra £2,000 towards our largest personal loan.

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A large part of this increase is due to the compensation we received from British Airways for them cancelling our flight. We received just over £1,500 in compensation. In the past if I had received this money I would have definitely spent it on another holiday, or stuff for the house, or extra nights out. Instead I plowed it right into the principal of our largest personal loan. That felt good!

Last month I also set some mini-goals. Here is how we did against these:

  • Increase our net worth each month, by any amount
    • Achieved. Our net worth went up by a healthy £4,962
  • Make £50 per month from side income (e.g. matched betting, freelancing, etc.)
    • Achieved. As mentioned in my recent side-income report, June was a good side income month. I made £113.49 working at the polling station at the UK snap election; £83.55 in matched betting; and £40 in swagbucks vouchers.
  • Spend £400 or less on groceries and toiletries each month (previously we spent £500 per month)
    • Achieved…kinda. We spent £382.15 on our groceries and toiletries while we were home. But we also had a week on holiday in New York so if were home that extra week, I think we would have gone over. This will be hard to hit in July.
  • Make an over-payment to unsecured debt each month, whatever amount
    • Achieved. Overpaid a satisfying £2,038.29 into our largest personal loan.

I am very happy with our progress this month, but I know that we had an usually good month so am cautiously optimistic that we will beat our original goal of paying off all our unsecured debt by the end of 2018.