#42 2017 Aims

Review of 2016 aims.

1) I will pay off all of the remaining £7k credit card loan from the wedding. Done.

2) I will put up a fence in our front driveway.  Done.

3) I'm going to start investing for the future. Done.

4) rather contrary to 1 and 3, I will take my family on a holiday abroad in 2016. Done.

I started 2016 £25,202 in debt. I ended it only £7,628 in debt.

Current financial status:

Debt: £7,628
Wealth including Pension: £14,391
Wealth excluding Pension: £310

We have very little in rainy day savings. Very little invested for growth. And no will.

We are 90% of the way through a house move which will tie us to an expensive mortgage for the next 5 years.

Aims for 2017:

Financial:

1. Pay off the remaining £7,628 of debt.
2. Increase wealth excluding Pension to £3000
3. Overpay on the mortgage by £600. Equivalent to £50 per month.

To do:

1. Get a will for the family.
2. Complete one item from my bucket list

Physical:

1. Get weight to below 14st
2. Run 13.1k without stopping (half marathon distance)

#41 October Summary

So, did we stick to the budget?

No. Overspent by £314.55.

If not, why not?

Holiday. Actually I expected to spent a lot more.

The aim was to maintain the downward trajectory on the monthly overspend. The graph above shows we succeeded with this.

Any positives?

Kept spending lower than I expected.

Grocery shopping was £120 less than budgeted. Our third on-budget or better month in a row. Previously this had been a big killer.

Lessons / thoughts?

Nowt this month.

Expectations for next month?

Really struggling to think of things which we'll be spending money on next month. Something almost always comes up but really hoping can stick to our budget.

Effect on overall finances?

S    Student loan – Does not exist anymore :)

·         House loan – £298 was paid off direct debit. Total remaining now is £6,249

·         Credit Card -  £47.58 was paid off. Total remaining now is £2,067.34

   

Total Debt = £8,316

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Wealth Accumulation

Summary:

Finally opened up a global index tracker fund. Starting with £50 per month direct debit into this. As mentioned in previous post depending upon the outcome of our house move this may increase or not.

It feels like a big thing beginning.

PPBF shares continued negative trend.

Next month will get the first entry for my workplace sharesave scheme = £100 per month into that.

Noticed that we've now doubled our positive saved wealth in the 9 months since February. 

Asset	Value	Month Increase
Pension Value	£12,761.50	£260.95
PPBF Share	£340.78	-£9.10
Cash Savings	£0	n/a
Fidelity Global Index Tracker	£50	£50
Total	£13,152.28	£301.85