November 2019 Net Worth Update

At last a month where net worth is worth reporting! And I had to use £1,000 of my cash for home improvements. This month’s net worth,

  • 0.72%
  • £1,082

Actions from last month

  • Get someone in to do a high level quote on converting our cellar into a small apartment, then done a ROI / factor into my annual income when I FIRE
    • I have one contractor booked in for later this week, so will report back next month on the amount quoted. I did do a review of the ROI and it is looking very favourable with a return on investment of 50% occupancy of 10%, however this was for the lower cost estimate. The ROI reduces to 6% for the higher cost estimate. Both are OK with me as this is tax free if the income is part of the ‘rent a room’ scheme. I need to do my research to ensure it is.
  • Do some background reading on Match Betting as I aim to try it out in December
    • Haven’t done this, have been very busy at work and this is looking like another job. I will see how I feel in December and progress with it then.
  • Take some stuff to the charity shop
    • Two visits!

Personal Expenditure this month

Carried on monitoring my personal expenditure during October, and as month, most of it on entertainment / going out. I had some good times this month

  • Went to see Romesh Ranganathan – great night out.
  • Saw Kate Tempest at my favourite music venue in Manchester, the Albert Hall – an amazing artist.
  • Did an Escape Room with colleagues from work – we got locked in!
  • Went to Holmfirth Winery with my ‘Wine Club’.
  • Had a lovely weekend away in the Lakes as part of an Outdoor Conference.
  • Drinks with FIRE friends at the 3rd MCR FIRE meet up 29/11 – write up on its way!

Action for this month

  • Reduce the amount of personal expenditure categorised as ‘Misc’.
  • Review the ROI numbers after the initial cellar conversion quote and consider getting at least 2 more quotes over the next month. After which agree a plan to save the money and a timescale for the conversion.
  • Confirm that my cellar conversion plans fit into the ‘Rent a room’ scheme.
  • Research Match Betting.

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