I spoke a little too soon about being on an even keel with working and living at home more. May has felt a real rollercoaster mentally. I have felt stressed and anxious, to the extent I have had to take a ½ day leave. Fortunately, my line manager and colleagues are caring and supportive people thatI can talk to about how I feel and try to understand the help I need.
I think many of us know what we should be doing to improve our mental wellbeing, and on the face of it, they are very simple things. Simple, but not easy. Get enough sleep, meditate, reduce alcohol, exercise, do more of what bring you joy, take regular breaks… breathe deeply etc. Like financial wellbeing it is about building good habits and automating as much as you can.
So how can I use how what works for me in my financial wellbeing to help my mental wellbeing? Part of what works for me is tracking and following the process. Deciding ‘this is what I will do’, track I have done it, and measure the results. I saw a great simple little chart flash by me on Facebook ….
It doesn’t matter what the categories are, meditate or go for a walk, read one chapter of a book or listen to a podcast, it is just about each of us identifying the things we know are good for us or that we like doing. Then commit to doing at least one or two of these a day and make sure we do each one at least once a week.
I think the root cause of my stress is not having the face to face interaction really enjoy about work. Separating work from the place and people makes me question the value and meaning of the work – but I will have to try and understand and manage it as I think it will be a few months before we will be able to return to the office and even then it may not be full-time.
Many bloggers have been very busy during lockdown, but I am still behind with both reading and writing, but what has been clear is that many of us have seen an increase in monthly net worth figures.
Since last month I have decided to give my savings rate a boost by using my net rather than gross income – which has meant an increase from 40% to 50% – just like that! Also due to a reduced monthly expenditure I was able to save an additional £463 which boosts me to a 63% savings rate for May.
My net worth has seen an increase of lovely £5,076 or 4.3% from last month (huge yeah), and up 2.9% from the end of 2019. What a difference a month makes. But we are in it for the long haul and we just don’t know what is around the corner.
Actions from April
- This month I wanted to concentrate on my financial education – have progressed with completing ‘The Simple Path the Wealth’ and a good way through ‘Your Money or Your Life’. More still to read with the Choose FI book and David Sawyer’s RESET still on my to read list, and have ordered Dave Ramsey’s Total Money’s Make Over.
- I completed FI101 ChooseFI’s online FI course. Can’t recommend this enough, a really clear, engaging course that takes you through their ‘blueprint for FI’, it uses text and video to explain concepts, has activities to work through and links to supporting resources. I would like to do a full review of the course as it is worth promoting.
- As part of being my work team’s ‘wellbeing champion’, I saw a gap in the wellbeing resources provided by my workplace – nothing on financial wellbeing directly though they do do a pre-retirement course – so I have drafted a session I am planning on offering to my colleagues.
Personal Expenditure last month
Total personal expenditure for May £286, an increase from last month but still 38% of what I actually allocate. Largest categories Charity and ‘Entertainment’ which now consists of books, posh take outs and booze. I did spend some accrued underspend from previous months on a lovely iPhone 11.
Action for next month
Next month am continuing with my financial education, reading etc and also, I am putting a plan together to, at some point over the next 2-4 years, when I reach FI, change career to something in Financial Services. To this end I have set up a Facebook group for likeminded people to share their journeys on ‘Becoming a Financial Advisor’. Join us if you are interested. I am also exploring other avenues of financial coaching and researching FIRE.
It’s also the June MCR FIRE meet-up online – FI Book Club on 19 June via Zoom. If you’ve read books come and share or come along and pick up some tips for some good reads.