It’s a new year and payday last week which means time for this month’s Income/Expenses!
I think it’s important to keep track of your income/expenses every month as it allows you to spot trends and areas for improvement. I find it really useful to track the spending changes each month, and really motivating to see the networth improvements. Sometimes it can seem like financial independence is so far away, but by watching your networth steadily increasing you’ll know you will reach that point eventually. I’ve created a new page to keep track of total networth, you can find it here.
December 2015 has been a pretty gruelling month for me. I endured a pretty horrible daily commute for awhile which took its toll combined with the dark afternoons and cold mornings. On the plus side; this really encouraged me to focus on growing my side incomes and perhaps lead towards an exit from the workplace eventually.
My two main side incomes at the moment are Matched-Betting and Kindle Publishing (under the helpful guidance of Huw). So, how did they do in December?
Matched Betting returned me an amazing £1158.06 in December! All of this was doing repeatable offers and with variable amounts of time each week. I’ve got a couple of plans to expand this next month as well so hopefully we should see continued growth. Like last month; most of the money is retained in bookie accounts so I can continue to leverage more bets.
Kindle Publishing is significantly less as I only began a couple of weeks ago however the numbers are already fairly impressive. I’ve currently got 5 separate titles published, all of which I put together myself at 0 cost and have staggered their release throughout the past 2 weeks. Sales for December were £103.81.
Google Analytics tells me we’ve had 6,500 pageviews from 1,670 users. I’ve also joined the cool kids and started a Twitter account to post updates and a few random thoughts. Please feel free to ‘add me’ or whatever the Twitter equivalent is. I’m @EarlyRetireGuy
On to the report:
Pension Contributions: £506
Share Save: £250
Matched-Betting Withdrawals: £463.27
Total: £3,018.65 (+25.5%)
Petrol (Gas): £6.50
Eating out: £63.78
Total: £1,987.26 (+66%)
Mega expensive month! Large chunks of it are due to Christmas presents, Wedding deposit and flights/accom for our holiday next (this) year. Actual day-to-day spending remains relatively low thankfully.
A savings difference of £1,031.39 which is 34%.
House Equity: £34,342.64
Cash in bank: £3,070.05
ISA Investments: £6,525.87
Pension 1: £16,463.04
Pension 2: £5,094.00
Total Networth: £65,745.60 (+1.1%)
A slight networth increase which is good given the very expensive month. I hope everyone had a good 2015, and will have an even better 2016!