It was payday yesterday 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.
This past month my whole focus has been on trying to generate new income streams and as such I havn’t had a chance to update the blog. I’ve got some really exciting new ideas in the pipeline and hope to give you all a detailed update soon!
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 February?
Matched Betting returned me almost dead on £900 in February. All of this was due to repeatable offers and a couple of decent casino offers on the last day of the month which netted £200! I’ve also started coaching in Matched Betting as well as writing a guide which will be available on Amazon soon. If you’re interested in learning about Matched Betting but don’t know where to start, or would rather place your first bets risk-free with someone double checking everything please get in touch on the Contact Me page. I charge £50 to begin with but guarantee you’ll make at least £100 by the end of the coaching.
Kindle Publishing has continued to grow. I have 20 short books out in various combinations and 1 full book. I received by first payment from Amazon for December’s kindle publishing which came to £175.
Google Analytics tells me we’ve had 4,200 pageviews from 1,228 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
This month I’m going to be making a couple of changes to the report to better reflect the income/expenses and networth. I’ll be counting all matched betting profits as income and recording the total value of cash held in bookie accounts with networth. I’ve also simplified the house equity split following our remortgage.
On to the report:
Pension Contributions: £506
Share Save: £250
Matched Betting: £900
Matched Betting Coaching: £100
Kindle Publishing: £175
Total: £3,825.83 (+49.72%)
Petrol (Gas): £0
Eating out: £64.24
Total: £1,677.61 (-6.64%)
A savings difference of £2,148.22 which is 56%.
House Equity: £35,000
Cash in bank: £3,030.70
Cash in betting accounts: £3,661.16
ISA Investments: £6,978.97
Pension 1: £15,911.87
Pension 2: £6,492
Total Networth: £71,824.70 (+10.28%)
A huge jump in Networth! This is thanks to an awesome month of income (my highest ever!), a decent recovery in pension & ISA investments and the inclusion of all my betting account funds.