Monthly Update – May 22

Image by tigerlily713 from Pixabay

A late post for last months figures, depressing reading really as the stock market continues to spiral downwards. I have been away on holiday, an escape to Scotland for my annual jaunt. A way of getting away from all this and having some fun.

The weather was not too good this year, talking to locals they say its the worst weather they have had in recent years. It seems that the season is about 3 weeks later than normal as the trees and floral were behind their normal flowering and growing rates. It did not spoil my holiday and enabled me to get away from things and not worry about the economy or my net worth plummeting. A nice break from MSM and social media. Given that I am living off my FI pot it is worrying to see the value plummet when it is required to sustain me until I reach my SPA. I may have to find some part time work more quickly than expected but I am currently enjoying spending time with my partner who has retired and enjoy the summer while we can. We still have some festival tickets to use in July so not really wanting to be dictated to by an employer on my holiday dates. (I have had employers who have refused my holiday requests in the past). I would like some autonomy so have tried to keep getting a little bit of cash from surveys and my other online channels. My little side hustle is not gaining any sales so I think that will be a dead end and I will stop trying.

I am not sure where the utility prices will be when I reach winter but I will have to look at ways to keep costs down and stay warm and fed. At the end of May my net worth is down another 3%, so all of last years gain has been sadly lost.

I have ordered my replacement double glazing units for my own house and waiting for them to arrive and get a fitting date. I am hoping they will help to insulate the rooms where they are being fitted to replace glass which has misted up. All the windows are south facing and all blown at the same time.

The large repair expense on my rental has also been booked in and just waiting for that to be completed. I did an online valuation for my rental and it came back with a value which I do not believe, given latest comparative sales in the area. I am waiting for a call back from a agent to discuss options. If I can achieve the value stated then this after taxes and expenses should give me around 3 years of income. I intend investing it into my ISA and then slowly draw it down over a few years to cover my gap between now and my SPA.

Income

I have income from ISA dividends and some taxable shares. I have my rental income and some cash from my online work. I will not get the online payment until June but it will help to cover expenses. I need to start looking at my cash holdings and how to gain more interest now that rates are picking up and I am receiving interest rate notices. It is good to see my cash starting to earn some additional interest even if it is nowhere near the current inflation rate. I use my cash buffer to live and leave my ISA and SIPP ‘growing’ – well if the markets were better, they should be growing, at the moment they are dropping and losing value.

Expenses

Just a few holiday costs to cover before I left and spending while there. I managed to get a full tank of fuel before the costs rose and with careful driving I was getting about 68 mpg so trying to get my value from the fuel. I saw fuel priced at £1.92 a litre – OUCH!

Month End Summary

With my net worth dropping and cost of living rising, I am worried how this will affect my long term plans. I will continue to monitor and find ways of making some cash and cut my costs. I want to spend time doing some fun things over the summer. I will just see how it goes.

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