March Net Worth – Better Late Than Never

So considering how many weeks ago I worked out my net worth for March, I’ve been particularly tardy in posting. I did the figures nice and early to take advantage of my bonus getting paid and actually staying in my bank account before I have to pay most of it out on the car. I also wanted to take advantage of a bump in the share price, although actually that seems to have stayed up anyway despite the ups and downs as a result of the Brexit chaos. So anyway, here goes with my net worth for last month.

Debts

Mortgage £88,340.18

Assets

Cash £17,407.98

Money in sharesave £10,304

AVC’s £3,729.43

Shares £34,827.09

House £228,000

Total Assets £294,268.50

Net Worth including house equity

£294,268.50 – £88,340.18 = £205,928.32

Net Worth excluding house equity

£66,268.5 – £88,340.18 = -£22,071.68

Scary when you see it like that how much of what I have is tied up in my house.


So overall I’m pretty happy with those figures. Saying that, I have a LOT of car expenses this month, which will punch a hole in those figures somewhat. I think the number that’s pleasing me the most at the moment is the net worth excluding the house equity. Although it’s a negative number it’s definitely going in the right direction. I reckon with some hard work I can probably bring that figure down to zero in the next two years.  It’s good to know that if I wanted or needed to stay where I was house wise then I could liquidate everything else and not be a million miles away from being at break-even point. Well, you know, what’s £22k between friends? Not that I’m going to do that, obviously, but still, it’s good to know that things are going the way I want them to.

If I can weather the storm of the car Armageddon, then I should have another good month coming up in May when it’s time for the dividends to be paid. And then in January my next share save will be maturing and netting me a tidy little profit. So I’m hoping that things will continue to improve. I’m on holiday this week as the kids are on their Easter holidays, so at some point I will hopefully man up a bit, get over myself and get cracking with Matched Betting. I really am being pathetic about it, and that needs to stop now.

I’ve had a bit of a wake-up call this month in terms of how much I really want to reach FIRE. I knew it was important to me, but I had a moment recently where I was rushing home to check my spreadsheets to see if I could afford to give up work. If you’ve been paying attention to my net worth you’ll know that no checking was really required, I can’t afford to tell them to go to hell and flounce out the door. Well, I could certainly afford to support myself for a period of time whilst I sorted out an alternative source of income, but I certainly am nowhere near FIRE yet.

The reason for all of this consternation was a chat from the powers that be in relation to the shifts that I work. I have a lovely 8-4 shift along with a not so lovely alternate Saturday working pattern. Other people in the department work till 8.00 at night on a rotating shift pattern. When I was offered the job 5 years ago I told them I could only accept it if I could get a set daytime shift. They were happy to accept that and so all was well. Now bear in mind that I’ve worked for this company for 18 years, and during that time I’ve worked all sorts of shifts, including a constant 10.00 at night finish. So I kind of feel that I’ve done my time on the rubbish shifts. Not to mention the fact that I have two boys to bring up, and quite frankly leaving them to fend for themselves doesn’t exactly float my boat.

So I’m in limbo at the moment where they’ve asked me to go away and think about what sort of flexibility I can offer the business. And if I offer nothing suitable they’re going to give me eight week’s notice and put me on a variable shift. If I don’t agree I can find another job. Nice. Chances are it’s not quite as black and white as they’re making out, but who knows. It’s fair to say I’ve been spitting feathers at work and it’s focussed my mind even more on FIRE.

Something that is being talked about at work at the moment is the possibility of us getting offered home working for at least part of the time. They’ve trialled it in another department and it seems to be working pretty well. They’ve not gone into any detail yet as it’s not officially on offer, but the rumour is that they’re looking for about a third of us to take them up on it. We’re crammed in to our current office building, and as our department is looking to expand shortly we’re pretty soon going to run out of space. Parking is an ongoing issue too, so obviously having people away from the office would help with that too.

When I was younger I always thought that working from home would be an absolute dream for me. Then I went through a stage where I thought I would find it far too isolating. Particularly when the kids were little, going to work was one of the few times I actually got to spend time with adults. Now I’m not quite sure what I think about it. My initial thought was that it wasn’t for me. As I don’t live with a partner I definitely enjoy the social aspects of work, although to be honest we’re often so busy that I can go whole days with barely even getting a chance to say hello to my team. I’ve got more social interaction now too with my various running groups, so maybe it wouldn’t be such an issue. I only have a 15 minute commute each way, so that’s not a factor particularly, but it would be nice just to commute to the spare room. I’m definitely more productive in a quieter environment, so I’m sure I’d get more done at home. Maybe it would give me more time to work on side hustles too. It’s definitely food for thought.

 I’ll be interesting to see what they are actually proposing. There are rumours that it will only be available for people prepared to work the later shifts. Also I would need to see if there was any compensation on offer for the extra costs you incur when working from home, such as heating costs etc. When I mentioned this at work everyone was saying that the business were doing you a favour so you would just have to cover these costs yourself. Well I can see that there’s a benefit to the individual, but the business isn’t doing this out of the goodness of their heart. They’re running out of space and they don’t want to have to take on another building.  It’s definitely something interesting to think about. Maybe I wouldn’t mind quite so much having to work a bit later at night if I was doing it in the comfort of my own home. We’ll see.

I was away down south for the weekend visiting the folks which was lovely, so today is the first day of my holiday where I am at home. I went to bed quite late, but was quite smug in the fact that I didn’t need to set my alarm until 8.00 to give me enough time to drop the car at the garage. I was thinking how good it was that I could go to bed at midnight and still get eight hours sleep. Of course all that happened is that I woke up at my usual 6am and couldn’t get back to sleep. I’m now completely exhausted and not wanting to do anything except loll about.

So I really hope that this isn’t the way that things will go when I reach FIRE. I imagine that I’ll settle into some sort of a routine, and hopefully my body will figure out that it doesn’t need to ping awake at 6am. Or if it doesn’t, I will actually get smart enough to go to bed at a reasonable time. I’m sitting here right now thinking that I’m sure there’s lots of things that I should be doing, but I feel like I’m at a bit of a loose end. I’ll probably feel a lot better when I get started with Matched Betting. I feel as though it’s hanging over me somewhat, taunting me to get started. Action conquers fear as they say, so I just need to actually do something about it and I’ll feel much better.

So plans for this week off are to get started with Matched Betting, get some more things listed on eBay, get a few jobs done about the house, get some running done and spend some time doing nice things with the kids when they’re not revising. The eBay is slow to say the least, but I’ve sold another couple of things, and whilst I think it’s safe to say that I’m probably not going to make my fortune from this, I’m quite enjoying it and it doesn’t eat into my free time too much. I think that whilst I’m still working and trying to build up some alternative sources of income the key is going to be to find things that I don’t mind doing in the evenings and the weekends. I don’t mind working, in fact I actually quite enjoy it, it’s the enforced aspect of work that I don’t like. I don’t want to always be in the office and quite frankly putting up with all the nonsense that goes along with doing your actual job.

So I think that’s about it from me. Rather than sitting here faffing about I’m going to take some action and try my hand at a wee bit of Matched Betting. How bad can it be really? I guess the worse that can happen is that I mess up and lose a bit of cash. It’s not like I’m staking the house or anything. So I’ll keep you posted on how I get on. Feel free to shout at me if my next post is still saying that I really need to get started with Matched Betting. Did anyone else feel like this when they started trying to bring in extra sources of income, or is it just me?

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