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.

Screen Shot 2017-07-05 at 19.52.50

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.

 

7 thoughts on “Net worth update: June 2017

  1. What is most impressive is your savings account increase of 67%, from 600 to 1,000k! That is an incredible month-over-month increase. The Cash ISA, I assume, is your daily operating account and won’t count that as savings because it could just be timing of current month’s payroll vs. next month’s expenses. If not, then that is also just as impressive.

    Keep up the great work!

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    1. Hi. Thanks for your comment! The cash ISA is actually another type of savings account so overall I am super pleased with where we are at the moment. I have a goal to save £5,000 for an emergency fund by the end of this year hence why I am stashing so much away in savings accounts rather than putting it all to our debt.

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  2. Nice update! How long did it take you to earn that amount in Swagbucks? I tried for a while, but had to step back due to the time spent = payout. But lately am thinking about trying again, also doing Pinecone Research and leapforce for side hustles.

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    1. It took me about a month, but I did one offer that was worth around 1,000 swagbucks which helped. I also received a 500 sb bonus when my partner signed up using my link. I would suggest trying again but only if you don’t have anything else to do. 🙂

      Liked by 1 person

      1. Ah sweet! I used to watch or let the videos play a lot during down times. Maybe I will try. at least for a month. 🙂

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