A Weird Month – Savings Report #9

This is a Saving Ninja savings report. Go to How To Track Your Savings to check out the Saving Ninja Super Spreadsheet. Please note that I split my expenses equally with my partner and the savings rate, house equity and house value represent my share only. The spreadsheet calculates my savings rate based off £12,000 worth of expenses per year, even though my expenses are actually Less Than 10k Per Year. This is to create a buffer; I’m aiming for at least 12k to reach financial independence.

Oooo, things are starting to get pretty exciting!

I’ve crossed the £50k invested barrier! Mini goal achieved!? It actually now sits at £51,492 which is awesome. It’s getting ever so closer to that six number figure.

My ‘Years to FI’ number has gone down normally by only 1 month and now sits at 4.1 years, it will reach below 4 years soon!

Interest is still climbing healthily, earning £531 in total this month which is over 1% change. I don’t expect this to continue each month and with the Brexit uncertainties, this will be all over the place over the next year.

My pension contributions have also gone up slightly by £79 to £2,579, this is due to an automatic pay rise at work at the end of the year. It went up automatically as it’s set to a percentage of my salary. I’ll be reviewing my contributions again in a couple of months and I’ll probably up my ISA and pension contributions.

Gotta keep on sloggin’! Only 3 more Savings Reports until I’ve done a whole 12, has it been that long all ready!?

Other Thoughts

This month has been a rollercoaster of highs and lows. It started off with a very profitable Cheltenham festival (see profits below) but was followed by lots of lows with having my betting account banned (again) and going through stints of boredom!

I feel like I’m now just waiting for my wedding. It’s only a few months away so it’s too soon to not think about but it’s a long enough time to be seeming like it’s dragging on! I’m also pretty nervous about the actual process. I’m quite a socially anxious person so the prospect of standing up in front of a load of people and “performing” doesn’t sit well with me. My partner on the other hand is very outgoing and is purely excited. Is it normal for me to be filled more with more nerves than excitement?

I’ve also done some serious thinking about my future this month, it’s all been written down in a post which will be coming out next week but the conclusion of it was that I’m definitely going to be beginning contracting after I get back from my honeymoon. I know that it’s probably not the best time to begin due to IR35 and Brexit but I may as well try –  I can always go back into a permanent position if everything else fails!

Contracting should allow me to hit my pension and ISA yearly limits so my savings amount should go up to around 60k form 40k. I ran some compound interest calculations and it seems that if I started contributing this amount at the end of the year, I should hit £1 million at the age of 37. Of course I would probably quit or go part time before then, but it’s pretty exciting nonetheless!

The latest Thought Experiment is also coming out on the 15th of this month. I’ve switched to a bi-monthly schedule for these, so they’ll be an announcement for the upcoming thought experiment one month on the 15th and on the next 15th will be the release of that Thought Experiment. So after the release of one, you’ll have 1 month until another is announced, then 1 month to prepare your posts. There was some confusion about this after the change as Gentleman Family Finances rushed to get his post out on the same day that I sent out the Tweet ( admirable!)

All Aboard the Money Train…!

This month was the month of the Cheltenham horse racing festival and I had a really successful month. Here is my daily profit/loss from my matched betting spreadsheet.

I made over £5400 in under 2 weeks! All tax-free. It’s times like this when I think why the hell am I going to work every day and earning much less? Remember that you could have also won this £5400 like the other thousands of people making tax-free income with matched betting.

Head over to the Full Matched Betting Guide if you want to find out how. Or How to Earn £30 in 10 Minutes if you’re still not sold on the idea.

I’m going to continue with EW betting but I’ll also be upping my casino offers as I still have to write out the casino section of the guide, so stay tuned for that.

How was your month?


17 thoughts on “A Weird Month – Savings Report #9

  1. Whoop whoop – well done on crossing the 50k threshold! Sounds like you did very well off Cheltenham. I started EW betting in March, but I only got back to the UK on the 15th, so missed out on the Cheltenham excitement. Look forward to your casino guide – that’s one part of MB I haven’t quite gotten my head around.

    1. Thank you Mindy 🙂

      Get your bank bigger with EW betting then you’ll be all set when the casino guide is written (you need a big bank!) Let me know if you need any help with EW betting! + Good luck!

  2. I’m with you on the prospect of a wedding making me nervous. That’s an understatement; it fills me with icy dread. A whole day of people looking at me! No thank you; I’ll elope if I’m ever in a position to get married.

    1. I really wanted to elope! We eventually conceded to her family saying “She’s our only daughter,” and “Your grandparents are too old to travel.” Family sucks :))

  3. I remember that feeling of waiting for my wedding to come round. It feels like there’s loads to do but it’s also forever away. But yes, totally normal to feel more nervous than excited!

    Looking forward to reading about your thinking on going FT with contracting. I know a few people who have done that and they’re doing well. For some of them it seem’s like it’s a lot like being employed as they work for one company for over a year in some cases. Also their thinking was similar to yours i.e. if it all goes wrong then the worst case is that you can go back to being a full time employee!

    Also, just incredible figures on MB. That’s like half of your living costs for the year. Amazing!

    1. Yeah, I keep putting it off, then I realised – it’s just the same as changing jobs if it goes south! I’m not tied to my current company in any way and I’ll be leaving at the end of the year anyway so there would be no harm done. Yeah – the profits I’ve made from EW betting over the last 6 months actually come to about 25% of my net worth (if I invested it), insanity! I’m hoping it will make a big dent on my FI plans when I eventually cash out.

  4. Thanksfor the shout out – I am working on a better thought out reply to your thought experiment for the 15th.

    Regarding weddings: Ours cost less than £2000 including rings and honeymoon – with gifts we even turned a profit.
    How can you spend less than a grand a month yet still plan to spend how much on the most expensive day of your life?
    Good luck

    1. Ah, awesome 🙂 We’re lucky enough to have my partners father paying for most of it as they wanted us to have a big one due to her being “The only girl in the family,” and they’re pretty well fixed! If we were paying for it, we’d definitely elope and do it all on a similar budget. Thanks for the luck!

  5. Jeez, how did you manage that profit on Cheltenham; I’ve never seemed to find anything like that level of profit.

    Don’t get me wrong I made £400-£500 with EW no lay (the first day was a cracker) and the Bet365 offer was decent, but nothing like your sort of level…….. Was it all on EW no lay, in which case you must be on mega stakes?

    How are you dealing with losing accounts to gubbings and stake restrictions?

    1. This profit was earned with £20 EW stakes (I’m also doing lower staked multiples), but I’ve now upped to £30 EW.

      It was all earned with the no-lay method. I’m also on my third Bet365 account 😉

      1. How are you managing the multiple accounts – I presume your fiance is also into MB as well, along with some friends 😉

  6. Firstly, congratulations on crossing the £50k mark – it’s a great feeling to reach milestones, like you’ve really gotten somewhere in your journey (well, that’s how it feels to me!)

    And well done on your incredible Cheltenham festival, which all turned out to be a bit meh for me but always good to see others profiting from the bookies!

    It sounds like you have really thought about contracting and as you say, if it’s not what you thought, you can always go back to perm.
    No one really knows how the IR35 thing will pan out, the government may have closed some loopholes but contracting will still be a bigger earner than being permanent staff.

    I’m with @Fretful Finance on the wedding thing – I was engaged in the distant past but with no wedding planned as the prospect of being the focal attention of everyone (even for just one day) horrified me.

    1. Rubbish! I haven’t got ads yet, my only bit of income is coming from matched betting affiliates, but that’s peanuts compared to anything else. I think the only real website revenue will come if I publish a book/game/mobile app.

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