Hello and welcome to another update 🙂
I hope that you are all well and having a great start to 2019? I’m sure I say this every year, but it feels like the year is flying by so fast and I’m sorry that it has taken me until mid-way through the month to update my Net Worth report! So, what did I get up too in February and how is my net worth looking?
Each Way Betting Update
While very much a side hustle, I want to make special mention of my Each Way Betting of late. As at the end of February, my initial £507 had grown to over £6,400 – that’s an increase of more than 1,100% and a return on investment of 20%. You can read my February report in more depth here. In February alone, I made £2.4k in profit 🙂
Of course, nothing great can last forever and March is proving to be a more challenging period. That being said, with two weeks left to run, hopefully, results will pick up and turn it into another positive month.
I think it’s reaching a point where I am going to start to routinely withdraw some of my profits each month and divert these into my ISA. What a wonderful feeling it is to know that money, that is going to compound over time, has partly been earned off the bookmakers 😉
Things remained a bit slow on the blog during February – I apologise. I just have so much to juggle right now that it has been difficult to find the necessary time to finish up the many different posts I have in the works. The combination of new responsibilities at work, my studies in the evenings and on the weekends and, of course, family life are limiting my blogging time right now.
- Each Way Betting Report #7 – January: – My usual monthly summary of how each way betting fared over the month. January was a +57% growth in my betting bank
- Monthly Net Worth Update #8: My usual monthly snapshot of Net Worth and the key changes/drivers over the month of January.
- When Markets Wobble Don’t Look Down: A look at some behavioural finance principles and how these may impact your personal investment journey.
Net Worth Snapshot
Right, let’s take a look at some numbers for February. Below I break down my current financial assets as at the end of the month and compare these to last month totals. I also show the value from 1-year ago:
In similar fashion to January, the picture remains largely unchanged from year-end with the ongoing contrast between gradually rising stock markets but stagnant/falling house prices roughly netting one another out.
So, overall I ended February with total net worth largely unchanged from January with just a 0.1% gain up to £527,808 (an increase of £267). Excluding property, this translates into a 3.5% gain to £295,736 (an increase of £9,913).
So how does this impact the longer-term picture? Well, my total net worth is 12.9% higher than a year ago (+£60,211) and, excluding property, that’s an overall increase of 20.8% (+£50,589). Overall that continues to be a positive trend.
It will be interesting to run the numbers next month as my employer pays out a one-off lump sum ‘pension top-up’ of 7.5% of my salary in the March payroll (this on top the usual of 7.5% of salary I receive each month). So that will land in time for next month’s report and will boost my pension pot by a notable sum. My annual performance bonus is also due in March, so I’ll be using a decent chunk of that to pay off some short-term loans (including the one I used to pay off that nasty tax bill from last month) and put some away into savings and investments.
Focus Areas For March
As I am a bit late writing this report this month, there is only 2 weeks left in March! So What will I be doing?
- Changing subscriber options – I’ve made (some) progress on this, in that I have found a cheaper alternative to the service I am currently paying for (but not really taking advantage of) so now I just need to figure out how to address my subscriber list more effectively – I’ve literally done zero on this so far, but have managed to collect quite a number of subscribers.
- I think the MBA people wanted to start us off easy! With every additional module in the course, it seems as though the intensity and difficulty level is being ramped up. With a double exam week looming in April, I really need to knuckle down and get on top of the current topic – advanced statistical methods 🙁
So that’s about me for now.
Until next time!
Do you have any comments, questions or tips for me? Please let me know by leaving a comment below