June and July Review

I’m going to do a combined June and July review seeing as I hadn’t got around to doing my June post by the time July was ready to get published. What can I say. I’m a summer girl at heart and when the sun shines I’m outside making the most of it rather than being huddled over my laptop.

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 track how I’m doing with my mortgage balance compared to my AVC balance. The reason for this is that I made a decision to mostly stop overpaying my mortgage. Instead I used that extra money to put more into my AVC fund. So hopefully I’ll start to see my AVC fund increase in value and more slowly my mortgage balance come down until they meet at some point and I have enough in my AVC fund to clear my mortgage when I retire. That’s the plan anyway.

Debts

Mortgage £92,377.27 June £91,885.11 July (£92,869.64)

Assets

Cash £34,541.56 June £34,725.71 July (£35,002.04)

Defined Benefits Pension £130,653.60 (£130,653.60)

AVC’s £14,026.62 June £14,534.87 July (£13,131.25)

Shares £65,289.39 June £66,050 July(£66,329.57)

House £250,000 (£250,000)

Total £494,511.17 June £495,964.18 July (£495,116.46)

Net Worth including house equity

£494,511.17 – £92,377.27 = £402,133.90 June £495,964.18 -£91,885.11 = £404,079.07 July (£402,246.82)

AVC Fund vs Mortgage Balance

£14,026.62- £92,377.27 = -£78,350.65 June £14,534.87 – £91,885.11 = -£77,350.24 (-£79,738.39)

I’m reasonably happy with those figures. The work share price is pretty rubbish at the minute, but even so things are all going in the right direction. I’ve still got too much cash sitting there as a bit of a security blanket, but I’m in the process of transferring £6k out of my savings account and putting that into my Vanguard ISA. That will show in my August figures. No doubt I should get rid of even more savings, but for now that’s enough for me. I like having enough easily accessible so that I feel I can deal with unforeseen circumstances. I might move a bit more money around at some point, but for now I’m happy with what I’ve done.

Not much else to say about those figures. As I mentioned in my last blog post I’m a bit bored with thinking about FIRE. I guess it’s probably natural. I’m doing what I need to do to get to where I want to be. I don’t need to think about things too much. I go through spells where I spend far too long looking at my spreadsheets. Once in a blue moon I’ll have a Eureka moment, where I think of a way to work smarter not harder with my finances. Putting extra money into my AVC fund instead of overpaying my mortgage was one such instance. Thinking about how much cash I have on hand is another example, even if my naturally cautious nature means I haven’t gone as full on as I could have done with depleting my savings account and putting more into index trackers.

As I mentioned at the beginning I’ve been making the most of the summer. I love it when the sun shines, so I’ve been dashing out to the garden on my breaks and straight away after work. Yet another benefit on working from home. Although I don’t feel like I’ve been particularly productive, I have managed to tick a few things off my 60 for 60 list. I’ve also amended it a bit; replacing a few slightly dull activities with more adventurous ones. I’ll write a post at some point with an updated list and a bit of chat about how I’ve found the things that I have got done.

I’m just coming to the end of my two week holiday. I’ve managed a slightly more normal holiday than last year, but still far from what I would have planned. I managed to get away camping in the north of Scotland, back to one of my favourite camp sites. I could only get three nights booked, but it was great to get away and enjoy the fantastic views. I also visited my folks and made the most of parkrun having restarted in England. I got myself to Hexham for a fabulous riverside parkrun which was lovely and flat. I also met up with my brother and sister and we walked a mammoth 26 miles around Kielder reservoir. That’s the furthest I’ve ever walked, and I was completely exhausted by the end. The sense of achievement was incredible though. It’s been a good summer of walking for me. I climbed The Cheviot, the highest peak in Northumberland and also walked a stretch of Hadrians Wall. Next weekend will see me back down south and climbing Scafell Pike. I’m definitely getting some good things ticked off my 60 for 60 list.

Photo by JACK REDGATE on Pexels.com

It’s back to work on Monday and I’m already dreading getting back in the swing of things. As usual my time off has made me reflect on what my life will look like when I do finally achieve FIRE. I’m hopeful that there’ll be lots of running and walking in there and plenty of travel too. I’ve noticed that lots of the conversations I have with my friends eventually come round to retirement and what our plans are. I don’t think it’s usually me that brings it up, so I guess I must just be of that age where my friends are making plans hopefully to stop working in the next decade or so. It will be nice to have other people retired so that I have some people to hang out with during the week. Much as I enjoy my own company it’s good to have people to share the fun with.

Unusually I didn’t set myself any goals to achieve on my last post. Making the most of the summer seemed more important. I still feel like that, but I do have the Great North Run coming up in September, so I really need to focus on that. Let’s hope some goals around that will be useful. Here goes then.

  • Do at least one 13 mile training run. I’m already up to ten miles, so this should be an easy one. Training plans don’t usually recommend that you do the full distance in training, but I’m a rebel and always like to know I’ve done the full amount before the big day.
  • Get down to ten and a half stone. I was doing great with my eating and my weight was more or less where I wanted it to be. After two weeks off work that’s definitely no longer the case. I’ve not even got on the scales, and have no intention of doing that before Monday morning. Come Monday though I need to be on it healthy eating wise.
  • Get at least seven and a half hours sleep a night at least five nights a week. Sleep is always important, but never more so than when you’re in training. I’ve been a bit bad with this for a while now, so it’s time to sort that out.
  • Climb Scafell Pike.
Photo by James Wheeler on Pexels.com

I think that is plenty to be getting on with. I’ll focus on my health for a bit and reintroduce some good habits. All in all things are ticking along quite nicely. I’m having a lovely holiday, even if I do seem to have spent a fair bit of it getting stuff done, like booking dentist appointments and cleaning the house. That’s always the danger with a staycation. It has given me the time to make some plans though and I can’t tell you how much I loved getting back to parkrun. Only a week to go until it restarts in Scotland and then I can get my Saturday morning fix on a regular basis.

2 thoughts on “June and July Review

  1. I think I understand what you mean by being bored with thinking about FIRE – you’ve got your plans in place, your spending is under control, your saving/investing automated, so there’s very little else to do except to just do all this consistently, year on year. It’s not very exciting.

    It’s what you do while you’re aiming for FIRE which makes blogs like yours interesting – the personal journey, the person behind the blog. I long stopped reading or following ‘how to FIRE’ type blogs, it’s the same stuff repeated over and over and there’s nothing more I can learn. However I can (and do) learn from other people’s lives, so I like to read about things other people are doing, like your running or going away on holiday (even though I’m doing neither myself!). It makes me think about what else I can do in my life.

    Anyway, good to hear that you’ve gotten over your injury and are back training again.

    Like

  2. Thanks Weenie. It’s that catch 22 of wanting FIRE to come quickly, but not wishing your life away. You’re so right, it’s what you do along the way that’s the key. I’m the same in terms of blog reading etc. I’d much rather read about what someone’s doing with their life rather than hints and tips that I’ve read a million times before.
    Hope things are going well with you and things are progressing on the house side of things.

    Like

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