Net Worth 2 – October 2014

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Category Oct 2014 Sep 2014 Monthly Change Oct 2013 Annual Change
Cash £35,640 £40,181 -£4,541 £33,156 £2,484
Investment (ISA) £8,202 £7,118 £1,084 £2,132 £6,070
Pension £63,645 £61,821 £1,824 £51,968 £11,677
Home £336,226 £335,666 £560 £277,000 £59,226
Car £3,400 £3,500 -£100 £4,600 -£1,200
TOTAL ASSETS £447,113 £449,840 -£2,727 £368,856 £78,257
Credit Card -£1,049 -£3,104 £2,055 -£5,500 £4,451
Mortgage -£160,807 -£161,262 £455 -£171,736 £10,929
HMRC Taxes -£19,273 -£19,273 £0 -£7,798 -£11,475
TOTAL LIABILITIES -£181,129 -£183,639 £2,510 -£185,034 £3,905
NET WORTH £265,984 £266,201 -£217 £183,822 £82,162

 

Key Thoughts in review:

  • My cash situation is getting a bit low, as some of the cash is in P2P, ISA and notice accounts, and lots is earmarked for the taxman in January.
  • Overall a minor decrease (£200) from last month, which is exactly as expected as most of my money comes in quarterly
  • The rampant house price inflation has cooled down now, only £560 appreciation in the last quarter, which feels right
  • Investments didn’t do too well as the markets are down (I’m invested in index funds),
    • But what a perfect time for my first month of less mortgage overpaying and more investing
    • I think it’s a good sign that was the right time to be making this change
  • Happy with 2014 progress
    • I’ve got more expensive home improvements next month – finally getting flooring, so the evil carpet /bare floorboards will be things of the past
    • Also a holiday (which also means I’ll not be earning) , so I’m not expecting large gains for the last quarter in net worth, would be happy to remain roughly constant
    • I’ll need to rein in spending/home improvements/holidays in the first quarter 2015 to ensure I can top my NISA up to the limit this tax year

 

 

 

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5 thoughts on “Net Worth 2 – October 2014

  1. Looks like great progress to me! Wish I could say the same for 2014 but school really pillaged & plundered my bank account. Can’t wait until I’m done and can start building my assets back up again.

    Liked by 1 person

    • Hey Bridget, I love the word pillaged – I certainly feel like I am pillaging sometimes, working off a variable quarterly income.

      Hopefully you’ll be building up cash again soon.

      Like

  2. Hi GFC,
    looks you’re beggining a trip over your financial issues. I will follow you. I agree, net worth is the best look we can have about our finances. Keep the good work.
    Cheers from Portugal!

    Like

    • Thanks Nuno – it’s going to be a great insight tracking everything and ensuring I make conscious decisions about spending now vs the future.

      Like

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