Monthly Update – Jul 22

Image by tigerlily713 from Pixabay

This year seems to be flying by and the economy is just getting worse, the doom grows. I have managed to avoid most of the news and have just been going out and doing things I have wanted to do while the sun shines.

I bumped into someone I have not seen for ages, pre COVID when I last saw them, and he has told me what has happened since I have last seen him. Both he and his wife are a few months older than me and both have had terrible health issues which is why I have not seen them. His wife had a brain aneurysm while at work and had to be air lifted to hospital, she then had two strokes and is now in a care home while she receives treatment. She has lost use of her right arm and leg and is trying to get physio to gain mobility. They are not sure if she will recover movement or not. This is a fear I have, this is the third person I know who has had a brain aneurysm. It seems to haunt me.

I know that TEA is always writing about health but he is right. We need to keep things in our favour and trying to keep fit and healthy is as important as saving money and trying to get away from The Man. As we age our health begins to fail and I seem to be surrounded by people who are succumbing to health issues, quite a few of them due to the stress of work. I used to hear of people having heart attacks but now it seems to be brain aneurysms or strokes. It makes me wonder what this modern lifestyle is doing to us. I am glad I left my last place when I did as I would be on my way to some kind of long term health issue.

I have tried to keep a positive mindset, I fear the health issues and I worry that I am going to have to go back to work due to the economy and this inflation crisis. The only large debt I have is my BTL mortgage. I just need to focus on my expenses. I am lucky I have no kids and can just focus on myself. It will be a struggle but I am used to being frugal. I listen to people saying how they cannot go on holiday or go out for trips. That was my life as a child. My family was poor, I never had holidays and never went out on day trips – unless they were ones arranged by school and free.

On the finance front, I am still planning to sell my BTL in the next year, this will now be within a recession, and I keep looking at the market and there are no houses for sale in the area. The agents say there are just no houses coming up for sale. I was advised to sell the house without a tenant. I don’t want to continue to be a landlord and rather sell. The income has been OK and has helped me over the past 2 years. I am really not sure if I will make any money out of the sale. I am intending to pay off some of the mortgage to bring the increased interest payments down to a manageable amount while the house is waiting to sell. I also have the problem of getting the tenant out. I cannot serve notice yet and will have to wait and see how they react. I have had a look at rentals in the area and there are some but they are considerably higher rents than currently charged. If they refuse to move I then have the cost of eviction to get them out and then waiting for the property to sell. If the market dies off then I could be waiting a long time for a sale.

Income

I received my NS&I saving cert payment, that’s the biggest payment I have ever received, due to the inflation rate. I have also received ISA and share dividends to boost my income and well as rent. I have some small income from online surveys and some other online work. It is covering my expenses and the dividend boost will help to tide me over the next few months.

Expenses

Just my normal living costs and some costs for days out. I am trying to keep costs down and find free things to do and just spend on food and drink where necessary. I had house insurance for both my own and my rental to renew and have managed to keep the costs similar to last year. I have also conserving fuel by being careful when I use my car. It is giving me a 65 to 70 mpg average as I just use it for long distance travel. I am looking at how to cut costs and try to keep things balanced but energy costs are hard to control when standing charges are going up so having to pay just for the connection, you cannot reduce use if it is the fixed charge. I have noticed that Octopus are looking to buy Bulb – as a Bulb customer I am waiting to see where I am going to be moved to.

Month End Summary

My net worth is still down and although dividends are now starting to be paid I am -6% down from last year so I have a bit to go to get back to where I started the year. I am trying to stay within my budgets but with costs rising it is getting harder.

I want to spend time doing some fun things over this summer and trying to do so while I can. Meeting up with people who have had health problems has struck hard and I just don’t want to be one of those people who just works all their life and ends up dying at work. I want a life, I feel I have spend so much of my time married to my job and no time having a social life I need to get some life in before it is too late.

I fell into that trap of living to work and just worked and worked, doing silly hours and constantly worried I was not good enough, fearing the loss of my job and then realising that I had lost time enjoying life.

“Keep calm and enjoy the sunshine and the summer” is my current mantra.

2 thoughts on “Monthly Update – Jul 22

  1. I’ve also been guilty of “living to work” and have to remind myself that my fear of job loss is irrational–but also that if it does come to fruition there’s more to life. Here’s to a rising net worth in the months ahead!

    • Indeed – there is more to life than work….
      Too many of us are living to work when we should be working to live.
      My net worth is in the red this year, not looking good as each month continues to strike another red marker. Some light at the end of the tunnel is required, a blip of hope….

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