Income Report – 2016 October

So here is the regular quarterly update.  Let’s have a recap of how I did.

Recap Of Previous Quarter

  • Get blog started.
    • Publish once a week.
    • Connect with other bloggers.

FAIL, I managed to publish a grand total of 2 posts and connect with zero bloggers…

  • Get a job.
Rattray-lighthouse-scotland
Solitary lighthouse in calm seas

SUCCESS, my rock solid ‘Plan A’ fell apart when the company informed me they were having a recruitment freeze. This was a big shock which took me day or two to process.

Luckily I had a ‘Plan B’, however, they knocked me back after the second interview.  That was a relief in a way, since the job required re-location to Switzerland. On the plus side I would have been close to the ski slopes, but everything seemed too complicated.

I was on the verge of accepting my ‘Plan C’ job and then an unexpected ‘Plan D’ came along.  After some rapidly organised phone interviews ‘Plan D’ was on the cards.  There was more money on the table but it was outside London…  After realising I would be paying 50% less in rent and not having to suffer a daily commute I decided to go for it.

Three months on and I still haven’t been sacked.  Result!

  • Start Investment Portfolio.
    • Decide on percentage allocation.

SUCCESS.  Thanks to the job i’m now in a position to start investing.  I’ve managed to put aside £2200 to buy some shares.  I’ve opened a shiny new trading account. I’m considering a few prospects and in the next week or two i’ll pull the trigger.  My percentage allocation has changed a little post brexit.

  1. Start Saving towards Investment Property 1.

FAIL.  I haven’t put any money aside for investment property 1…

  • Supplement Emergency Fund.  Save a minimum of one month’s expenses.

SUCCESS.  I have one months living expenses stashed in my backup current account.  This is a reasonable start but given my lack of job security I need to increase this rapidly.

Semi Passive Income for previous Quarter

  • Property: £0
  • Dividends: £0
  • P2P Loans: £1.05
  • SideBiz: £0

Net Worth – October 2016

  • Property: £0
  • Shares Value: £0 (Previous £0)
  • Cash in Share Account: £2200 (Previous £0)
  • P2P Account: £101.69 (Previous £0)
  • Emergency Fund: £1800  (Previous £140)
  • Debt: £ – 16200 (Previous £-16200)
  • Total Net Worth: £-12098.31 (Previous £ -16060)

So, I failed in two of my five aims.  Or to put it another way, I succeeded in hitting 3 of my 5 targets.  The real important one was getting a job.  That has allowed most other areas to slip into place and i’m now on a better course.

Over the last 3 months my net worth has increased by £3901.40, although it is still negative so nothing to be overjoyed at!  I’ve been living a bit (understatement) of a hermit’s life.

My priorities remain the same, to rapidly establish a firm footing in the form of an emergency fund and cultivate the habit of contributing to my portfolio.

So i’ve managed to get things headed in the right direction, but it’s not time to get cocky.  Job-wise i’m probably safe until the end of the year but there’s the chance that the job could be canned in 2017…

Aims for next quarter

  • Increase Emergency Fund to 3 months
  • Add £6000 to share account
  • Put aside £6000 for investment property 1
  • Publish 1 blog post per week, get 100 visits to the website

I’m not feeling very secure in my job so ensuring I have a good emergency fund is paramount.  Did I say that already?

I also need to be more disciplined in my approach to the blog, now that i’ve got into the swing at my day job I should have the energy to  keep things updated.

There is also definitely scope for me to improve tracking of the different metrics against which i’m measuring my progress.

 

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