Apr-June Q2 2021 Net Worth Update

Q2 is going so well I missed posting my update and am over a month late. It’s a cliché but time flies while I am jogging along slowly. My horizons along with everyone else’s are opening up as restrictions are lifted, we can mingle, travel and socialise, more or less at our will.

It feels a different place that we are in compared to Jan-March – in terms of the pandemic, weather and a very much caveated sense of optimism and opening up – having enjoyed celebrations and the could have been moments of Euro 2020, the achievements of TeamGB in the Olympics, some great weather and the passing of spring into summer.

Have spent more time outdoors walking, running, cycling and have joined an outdoor boot camp which is quickly making me become obsessed with training and being ‘my best self’!

I have been doing quite a bit of community related activity, becoming more involved in a group to manage a community space near me and taking on the admin / co-ordinating role in some local litter picking activity (this may not be the glamorous life I had dreamed of)!

My studying for my second 20 CII credit module towards a qualification in personal finance R02 Investment Principles and Risk has fallen by the wayside unfortunately. I may need to prioritise or rethink my goals.  

Finance wise a very good quarter with an average savings rate for the quarter of 63.5% (above my goal of 60%), total increase in net worth, £11,200 that is 7.1%. Am not sure I can keep this up as going out and holidays and a more normal life beckons but let’s see.

MCR FIRE Meet ups are going from strength to strength with ‘Investing in property – my thoughts after 10 years’ with Gary Derbridge, ‘Investing in the time of pandemic’ a conversation between Matt and Danny and ‘How much you need to be financially free’ from John B, April – June. Looking forward to the August meet up which is going to be our first face to face session since the pandemic!

Actions from Q1

• Review my goals and make sure I am on track, particularly in terms of
  • increasing side hustle income

I am not on track with my ambitious goal of £3,000 but I have started – I registered ages ago with ‘Cat in a Flat’ a kitty sitting service, inspired by London FI meetup on side hustles. As restrictions lifted I got loads of enquiries and have already done 7 bookings, just finishing 2 more with 3 over the next few weeks. I have earned £410 so far.  

• read at least 1 book per month

I should have read 6 but I have only done 3, some catching up to do.

• running – increasing frequency to 3 times per week and length of run to 50 mins

I am re thinking this goal. I have joined an outdoor boot camp and am going twice a week with other exercises and challenges – the goal of getting fitter and stronger is on track, but may be not by the planned route.

• Sell the apartment and invest profits
  • This unfortunately has not happened, the sale is paused until some (very expensive for me) work has to be completed. It has at times being quite stressful and I just personally want it to end and have the money in an ISA or GIA. Hopefully next quarter will allow me to close this action down.

• Review savings and investment direct debits
  • I did this, increasing my Pensions contributions and reducing, but only slightly my ISA contributions, to get to a 66% savings rate.
    
    
• Pass my R02 exam
  • I’ve not done this, am reflecting on if this is where I want to spend my time – but as a completer finisher I think I will at least continue my learning and revising and take forward to Q3
    
    
• Plan a cycling challenge with my friend
  • This was done and my friend T and I planned 5 day cycle from Newcastle, through County Durham, Richmond, Kettlewell, and Burnley and back to Manchester. We cycled this in the early July heatwave.  

• See friends face to face more regularly, go to the cinema and theatre
  • Has felt a busyish three months with
    • Meal out with J and B
    • Visit to Knutsford to meet N
    • 2 walks in the South Pennines with J
    • Drinks and BBQ with J and A
    • A foraging day with A and T
    • A sunny week in Llandudno early June with my family
    • Celebrated my birthday with a garden party with lots of friends
    • Met with a group of friends to do a walk following the line of an ancient brook in South Manchester

Actions for next quarter

• Complete my bootcamp 8 week plan and lose another 7lbs
• Keep getting out in the outdoors including doing a 20mile walk along the Edale skyline
• Complete my learning for R02 and have my test booked in
• Complete the work on my flat, finally sell it and invest the money
• Earning another £300-£400 in my side hustle

How was your Q2?  Hope it went well and good luck with Q3, nearly half way through it already!