Progress Update – January 2018

January is such a tough month! The weather is cold and rainy, the days are dark and sunlight is in short supply and payday feels a LONG way off. But now we’ve made it through and February brings the lovely promise of Spring.

January wasn’t all bad. I attended a hen party (bachelorette party for all the Americans) for one of my best friends and kept the weekend within my budget of £200. That included 2 nights accommodation, an escape room experience, dirty dancing class, all meals, drinks and taxis. It was a really fun weekend but I was exhausted by the end of it!

This was also the month that I completed my first rental property purchase. Family circumstances meant I could purchase it without needing to find a deposit but I still have a 75% mortgage on it that I’m hoping to pay off within 10 years.

This purchase has increased my net worth significantly – an increase of almost 65% since I started tracking. At the end of January, my assets totalled £306k and my liabilities totalled £174k leaving a net worth of £132k. I’ve made it to six figures in my first sixth months of monitoring!!

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I’ve also made some progress on one of my other goals. I’ve opened a separate savings account so that I have one for emergency savings and one for more short term savings, in particular holidays! I can set up categories within the accounts so that I can have different pots for holidays, Christmas etc. Outside side of finance, I’ve lost 5lbs in weight and loved my first violin lesson!

How has the first month of 2018 been for you? Are you on track with your goals or have you lost motivation? I’ve found posting on here really adds to keeping my motivation and inspiration levels high!


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