It’s time to see how I got on in August, both in terms of my money and working on my goals.
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.
Mortgage £91,392.92 (£91,885.11)
Cash £29,026.93 (£34,725.71)
Defined Benefits Pension £130,653.60 (£130,653.60)
AVC’s £15,431.04 (£14,534.87)
Shares £71,318.81 (£66,050)
House £269,000 (£250,000)
Total £515,430.38 (£495,964.18)
Net Worth including house equity
£515,430.38 – £91,392.92 = £424,037.46 (£404,079.07)
AVC Fund vs Mortgage Balance
£15,431.04 – £91,392.92 = -£75,961.88 (-£77,350.24)
A couple of things to talk about in those figures. I took £6k out of my savings and put them in my Vanguard Stocks and Shares ISA. As a single parent I really like having a good chunk of money in the bank “just in case”. I figured £29k in savings is probably still enough to let me sleep at night, but has a bit more of my money working harder for me. Definitely a good decision, but I think that’s probably as far as I’m prepared to go for now.
Putting that extra money into my Vanguard account has the added advantage that I now have more money in index trackers than I do in work shares. I still have far too many of those shares, but at least I’m going in the right direction. My plan is to sell about £4k worth of the works shares before the end of the tax year to max out my ISA for the year. I’m going to try and wait for the share price to hopefully go up a bit, but no matter what I think I’ll stick to that plan. Considering only 18 months ago I only had £650 in my Vanguard account and everything else was in my work shares, I’m pretty pleased with my progress. Of course I’ve not actually bitten the bullet yet and sold any shares, but I will.
I’ve put a higher house value in there this month. It’s just based on a Zoopla figure, so I’m not sure quite how accurate it would be. It doesn’t really matter anyway as I’m not planning on selling any time soon, and although I include my figures with the house equity in there, it’s not really something I’m particularly focussed on.
Let’s move on now and see how I got on with working on the goals I set myself. Here’s a quick reminder of what I was working on.
- Do at least one 13 mile training run. DONE. I managed a 14 mile run last weekend. It was only supposed to be 13, but I got lost in the woods and ended up running a different route to what I expected. I managed to keep going till I found my way home and was happy to get 14 miles in the bag.
- Get down to ten and a half stone. FAIL. I’m actually back up at 11 stone again. This is a bit of a recurring pattern for me. It is what it is.
- Get at least seven and a half hours sleep a night at least five nights a week. PASS. I’ve really made sure that I focussed on this. I just need to keep this going now.
- Climb Scafell Pike. PASS. I loved, loved, loved this. It felt relatively easy, which was great, but still felt like a great achievement.
I’ve done well with my goals this month. I’m not setting any goals for September. My mental health has taken a bit of a battering recently. It’s certainly strange times that we’re living in, and work is also proving incredibly stressful. I’m normally pretty resilient, but I think it’s fair to say things have been getting too much for me for a while now. There’s only so long you can just plough on pretending everything is ok. I’ve finally been to the doctors and have got some help in the form of a prescription and a bit of time off work. I’m hoping I’ll start feeling a bit more like my usual self quite soon, but in the meantime I’m going to hunker down, get myself in a better place and be a bit nice to myself. The only thing I want to achieve this month is getting the Great North Run done and getting myself in a better head space. If I can manage that then I’ll be happy.