We’ve just got back from another and slightly longer camping trip, this time up to the highlands of Scotland which was brilliant and we got better weather! It was a bit more expensive this time and I will do a full post on camping and its associated finances. We’ve got a hotel weekend away coming up soon so it will be good to compare the two.
It’s been an expensive month all round really as I paid for a couple of pricy items:
- A filing cabinet – this could have been cheap but we wanted it to go in our living room and therefore chose a solid oak option after a lot of research costing £229. This will allow us to organise our paperwork and declutter so I think this is worth it for the added peace of mind from the tidiness.
- My car also had it’s MOT and tax due costing £80.
- The MOT advised two new tyres and as I commute for work and safety is important I bought high quality for £192.
It’s also been 6 months since I reviewed the valuations of my properties and car so I used Zoopla and AutoTrader to estimate these and unfortunately all of these have decreased. My car is down 4% and this is less surprising than the properties down nearly 9% but that’s the nature of the housing market. I have arranged for additional overpayments on both mortgages and this will keep the loan to value ratio at a reasonable level. This is important to me as it will give me options as to what to do with them in the future. I don’t want to be hemmed in because my leverage is too high.
The impact of this is that for the first time since I started tracking my net worth 12 months ago, it has decreased! Assets have decreased to £397k and liabilities have remained largely the same at £171k resulting in net worth of £226k down 7% compared to July 2018. Given that 12 months ago my net worth was only £80k I’m ok with that and it spurs me on to save more next month!
Have you come across any setbacks in your journey to FI? How did you deal with them?