What goes down must come up? – Savings Report #7

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.

Woohoo, nice and positive green numbers again.

This month saw most (but not all) of the festive corrections losses come flying back with a £2437 interest gain.

That along with another deposit of £3500 saw my investments grow by 14.15%, pretty nice!

My ‘Years to FI’ number has now gone down to 4.4 years! It’s going to look pretty awesome when that number drops below 4.

The £100k figure is getting closer and closer, I can’t wait until I start seeing real gains from the stock market as the current valuation is still below the book cost.

Fun fact: $100k is currently £76k, so I’m pretty close to celebrating my first $100k! Maybe next month if the markets continue moving upwards?

I’m still mulling over whether I should shove a few extra grand into my ISA before April. I’ll have to give my finances a good review and see how much I think I’ll be spending on my honeymoon and wedding.

Other thoughts

I’m starting to get really annoyed at work. It always seems to be the case that I run into people that do an awful job and are paid more than me, I then move onward and upwards after re-evaluating my worth. In this case it seems to be contractors.

I really want to start contracting as this will allow me to fill my ISA and pension limits each year and expense things like my £3700 commute. I should have just bitten the bullet and gone into it before starting my current position. But, I’ve got to wait until next year now. The reason I’ve got to wait is that I’ve got a little over a month off in July for my wedding and honeymoon. June is also the time where we all get a 15% bonus. It would be ludicrous to leave now (if I could find any job that was willing to hire me then let me bugger off for a month that is). I’ll have to wait until after the honeymoon.

I better start brushing up on my interview skills again, I think working at a big corporation has made me a bit soft! Would you guys like to hear about any of my programming escapades or will it be a bit too off topic?

The question for Thought Experiment number 4 is up over on the landing page! I’m quite excited about this one, if you wanna join in then make sure that your posts are written before the 15th. Feel free to let me know what your link is going to be and I’ll add you to the list before the post goes live.

Wedding prep is going well! We’ve now got a scrum board (courtesy of Mrs SavingNinja) in the living room so we can be extra nerdy when completing our wedding tasks.

What do you guys think?

Matched betting is back on in full swing now. I’ve started doing no-lay accas each morning on two different accounts and currently have 26 accumulators waiting to be settled! I’m also doing quite a lot of EW betting but with lower stakes and not on my best accounts (waiting until Cheltenham for that). Should have some matched betting updates for you next month.

I still need to write that EW betting guide! There’s just been so much on lately but I’ll have to make the effort soon.

How did your month go?


14 thoughts on “What goes down must come up? – Savings Report #7

  1. IT contracting and running your own ltd company fits very well with aiming for financial independence. The same discipline/skills will transfer readily as you are already used to tracking your balance sheet and monthly P&L. Good luck!

    1. Hey Tony, thank you 🙂

      I calculate it using my mortgage interest rate and how much I pay each month. For example:

      100k mortgage at 5% per year means that you need to pay £5000 per year interest (100000*0.05). This means £416 per month, if you pay £700 per month then that’s £284 going into equity. Obviously, the amount that goes into equity increases the lower your loan amount gets, but I plan to just recalibrate each time I re-mortgage.

      1. Of course, got it now! I misunderstood the ‘house equity’ meaning. I don’t have any mortgage, but it’s good to learn this stuff for the future.

        Thanks for spending a moment to feed my curiosity Ninja, much appreciated.

        Great blog! 🙂

  2. Numbers are looking good! I was also relieved to find my numbers were back in the green after a terrible December. Look forward to reading your MB updates and your updated guide. I used your very helpful introductory guide when dipping my toes into MB last month.

  3. Yeah – the markets have bounced back very quickly…..almost too quickly really….but hey, I’m not complaining.

    On the contracting side – there are lots of potential changes coming in 2020/2021…… but who knows with all the Brexit mess if the govt will actually get around to implementing them.

  4. I bet all those green numbers made you smile! 🙂

    That’s awesome that your ‘Years to FI’ number is ticking down and you’ll be at below 4 very soon, I’m sure.

    I did have a chuckle at your ‘wedding scrum board’ haha – but very organised!

    As Ms ZiYou says, there will be new regulations coming in re contractors in 2020 – the changes have already been implemented for the public sector and something similar will be applied for the private sector. HMRC have already stated that ‘loopholes’ will be closed; by loopholes, I take it to mean tax-beneficial loopholes, which enable contractors to pay less tax than normal employed folk.

    Still worth considering though despite the changes and with Brexit happening, the changes may not all be made.

  5. That’s super organised of you to have a scrum board for your wedding! Do you and Mrs SavingNinja have scrum meetings every morning? I still shudder whenever anyone mentions scrum. My scrum master used to sit on my desk during the scrum meetings to stop me continuing to work through them. Grrrr.
    Glad your savings are looking up – your FI date isn’t that far away at all!

    1. Hey Mrs W! Haha, no not yet. We probably should do soon though as we’re not making any progress! Maybe we need a scrum master? 🙂

      At least you got to sit down! I hate “stand-up” each morning to go through the scrum board, why can’t it be called “sit-down!”

  6. Waiting until June might be a really good idea.
    If you think about it – bonus in June, salary paid for April/May/June and then go self-employed (or take the summer off).
    You’ll get the full use of your annual allowance so very little tax and NI to pay and the rest you can build up inside for LTD and pay yourself next tax year (maybe).
    Plus you get to expense that season ticket!

    1. Yeah, a solid plan! Although some recent changes may be afoot with the possibility of relocating to the USA sooner than I initially thought! Ahh, so many choices!

  7. One thought contrary to the contracting thing ASAP… would that be very conducive to MB (or in particular EWB as that is mainly during the daytime)? Overall I think it’s the best move and to hell with MB stuff, if you are earning more in the day job then your value is kind of set for the long term and shouldn’t ever really go back down* whereas MB/EW can surely only really be seen as shorter term money booster. But wondered if that had crossed your mind?

    *and you can always do other MB stuff in the morning or evening, or you never know your contracting place you might be able to get away with EW on the phone anyway!

    “Would you guys like to hear about any of my programming escapades or will it be a bit too off topic?” – Hell yea! Let’s hear it!

    Can we come and visit when you move to US btw?! 🙂

    1. I did think that initially, but then things started ramping up at work and I’ve now had my work from home days stripped until this project is delivered. Also, 75% of people in my corp and most corps like mine are contractors, they get exactly the same privileges as permies, so if I could move to another similar style corp or remain in my current one as a contractor, it will be just the same benefits! Just a day rate instead of a salary. Of course, I may not get a contract with a corporation like this, but I can try – and most of the people at my current place have literally been contracting for years (one guy over 5 years), it’s basically a permanent job which pays higher at that stage!

      Great! Be prepared to be bored with a page full of 1s and 0s!! :):) and of course you can come and visit! We’ll have to invade one of these mustashian meetups and dazzle them with our Englishness.

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