What Was I Worth In September?
It’s time for an update on my Net Worth figures and to see how I’ve done in working towards my September goals. I’ll also set myself some new goals for October to ensure that I don’t just coast towards the end of the year, which is far too easy to do.
Here’s my figures for September. As usual I’ve got last month’s figures in brackets for comparison. I’ve got my Defined Benefits Pension in there based on twenty years worth of money if I start drawing it at 60. I’ve also got my Net Worth not including the DB Pension or the house equity, which seems barmy, but is really just to represent how close I’m getting to mortgage neutrality.
Mortgage £96,806.40 (£97,298.42)
Cash £34,128.46 (£34,066.27)
Defined Benefits Pension £123.683 (£123,683)
AVC’s £7,002.82 (£6,452.88)
Shares £38,766.86 (£38,246.93)
House £250,000 (£250,000)
Total Assets £453,581.14 (£452,449.08)
Net Worth including house equity
£453,581.14 – £96,806.40 = £356,774.74 (£355,150.66)
Net Worth excluding house equity and Defined Benefits Pension
£79,898.14 – £96,806.40 = -£16,908.26 (-£18,532.34)
There’s not really too much to say about these figures. Things are ticking along quite nicely. My cash amount is almost the same. The shares are very slightly up. Rather unusually this month the Vanguard Index Trackers have not increased by quite as much as the extra money I invested. They have been pretty solid for me since I started putting money into them earlier this year, so I think I can forgive them an off month. Luckily my work shares very slightly increased, rather than the drops that I’ve seen during the year. Maybe they’re starting to pick up, or maybe there’s it’s just not possible for them to go any lower!
My net worth excluding the DB pension and the house equity is continuing to go in the right direction. I can’t wait until I get to zero where I can effectively say that I am mortgage neutral. I probably shouldn’t really include my AVC’s in that calculation as they are not strictly speaking something I could just cash in and use to clear my mortgage if I was so inclined. I’ve started doing it that way though, and quite frankly it’s too depressing to remove at this stage and feel that I’m going back the way. I guess they’re my figures so I can include and exclude as I see fit!
It shouldn’t be too long until my shares and index trackers sneak over £40k. I’m looking forward to that and then I can start to aim for £50k. So much of this FIRE business is psychological. You need to give yourself mini-targets to aim for so that you don’t get discouraged. It’s the long game we’re playing, but there’s nothing wrong with celebrating the mini successes along the way.
That doesn’t seem like a particularly exciting month, but at least things are continuing to move in the right direction, albeit slightly slower than I would like. I’m impatient as always and would like to see much bigger improvements in my figures month on month. With the best will in the world though I can only work with the income that I have coming in. For now anyway. More income would definitely give me more options in terms of investing and paying down the mortgage. From a purely financial point of view it makes perfect sense to put more into my pension and take advantage of the tax savings rather than paying off a base rate mortgage more quickly. I would really love to be mortgage free though. I spent so many years trying to pay my mortgage off that it goes against the grain to not be throwing as much towards it as possible. I have to prioritise though. My current strategy is the best way to make the most of the income I have coming in just now. If I can figure out a way to make more money then that will give me the luxury of also chipping away a bit more at the mortgage. That would be the ideal scenario for me.
Progress On My Goals
Not much more to say about my finances for the month, so let’s move on and see how I did against the goals I set myself. A quick reminder of what I was working on.
- Get 7 hours sleep a night, 5 nights a week. PASS. There’s only been five days this month where I’ve not got at least 7 hours sleep. I definitely feel better for this, and am now in a habit of going up to bed early enough to get plenty of shut eye.
- Do 4 forms of exercise every week. In an ideal world this would be 3 runs and 1 cycle or walk. PASS (SORT OF) Most of the weeks I did more than 4 lots of exercise. The minimum runs I did in a week was 3, although most weeks it was 4. The only week that let me down was last week. I had a really heavy cold and so did no exercise at all. As I knew I had a really busy weekend dropping number 1 son at uni I was trying to get healthy and was sensible enough to know that running wasn’t going to do me any favours!
- Complete section 5 of the Duolingo Spanish tree by the end of the year. ON TRACK. I am now on a 497 day streak. I can almost taste the victory of getting to 500 days! I’m well on track to get section 5 finished by the end of the year. In fact at my current pace I should finish around the start of December. I’m really enjoying it and feel like I’m learning a lot.
- Find a new Spanish series that I want to watch and see at least 2 episodes every week. KIND OF PASS. On paper this is a pass. I found a YouTube series to watch. I’ve see a lot more than the 2 episodes a week, but as they are about 10 minutes an episode this feels like a bit of a cheat. I still haven’t looked for a proper box set. This is mainly because I’ve not been watching any TV and I’ve really been enjoying that. I’ve been reading loads and generally feeling like I’ve been much more productive. However I need to recognise the fact that Spanish TV watching is productive and isn’t the same as just vegging out with no purpose in mind.
- Keep my car mileage under 69,000 by the end of the year. FAIL. I’m at 69,635 miles now. Although clearly I’ve failed at this one, I’m not at all worried. This is one of those situations where life is much more important than goals. I had to do a round trip of 800 miles to go to a family funeral. My dad had just had an operation and so was in a wheelchair and my mum doesn’t drive. My sister’s car is too small to get a wheelchair in. It was great that I was able to get time off work, have a big enough car to get all of us in and safely transport us all down south. It ended up being a really lovely if exhausting trip. Of course funerals are always sad, but this was a real celebration of my auntie’s life. I got to catch up in a socially distanced way with cousins that I’ve not seen for nearly 30 years. Even the whole road trip with my folks and sister was a lot of fun. You’ve got to look for the positives in life, and as funerals go that was a lovely one. In an ideal world you wouldn’t be having reunions with family at funerals, but as you get older this seems to be one of the main sources of far flung family getting together. I’ll try and stick to under 70,000 miles for the year now. I’m still avoiding using the car for short journeys, which seems like fiddling whilst Rome burns considering my monster road trip, but I can only do what I can do. I’ll control what I can and not worry too much about the rest.
So what do I want to work on during October? I’m not going to set myself too much I don’t think. There’s quite a bit going on family wise just now, so I feel like I need to be a bit kind to myself. Saying that, I do like to have something to work on, so here goes.
- Track what I eat using MyFitness pal. I’ve had a lot of success when I’ve used this in the past. It is a bit of a faff when you first start using it, but once you’ve got some meals logged it becomes a lot easier.
- Lose three pounds. My weight is all over the place at the moment. I keep losing a bit and then putting it back on again. My weight does tend to fluctuate quite a bit, but this is getting ridiculous even for me. This year I’ve been consistently heavier than my normal post Christmas weight. That’s not good. I really need to do something about that.
- Complete section 5 of the Duolingo Spanish tree by the end of the year. I just need to keep plugging away at this. I’m on track, but it’s still a big stretch goal so I need to stay consistent.
- Find a new Spanish series that I want to watch and see at least 2 episodes every week. Sounds familiar, but this is how I’m really going to improve my Spanish listening skills.
- Learn to solve the white cross on the Rubik’s cube. I have Weenie from Quietly Saving to thank for this one! When I mentioned in one of my previous posts about one of the kids being really good at cubing she told me how she’d learned to do it a few years ago and has now challenged herself to learn the 4×4. I used to be able to do the normal 3×3 cube, but only with the help of my notes on how to solve it. It’s on my bucket list to be able to solve the cube without notes. Weenie has very kindly sent me the instructions that she used. The white cross is the first stage, so I think that’ll be enough for me to getting on with for this month. I think the key is to learn each stage in isolation, practising until it’s in my muscle memory, and then move on to the next stage.
So after saying that I was going to give myself an easy month, I think there’s plenty there for me to be working on.
September has been a fairly good month. Lots going on family wise, which luckily I was in a position to be able to help out with. Work were good with putting in emergency holidays for me to get to the funeral. I had already decided though that if that wasn’t forthcoming I would just take unpaid leave. Having FU money really is a help even if you aren’t anywhere near full FIRE. Yet more benefits of knowing what you’re worth financially and being aware of what your priorities are and how you can make use of your money to ensure that your actions match what’s important to you.
I’m reasonably pleased with how I’ve done against my September goals. The odd spanner in the works, but that’s how life goes sometimes. I’m going to keep up my focus on getting enough sleep as that’s working really well for me. I’ll keep working away at my Spanish and get started on a TV series to help with my listening skills. I’ll get cracking on learning the Rubik’s cube (whilst trying to avoid getting obsessed, which is what happened about 7 years ago!) I think that’s probably enough to keep me out of mischief. Let me know what you’re working on just now and any tips on how to keep motivated and ensure that you achieve your goals.