Net Worth Update for April 2021 – £67,028 (+£15,077)

After only just breaking through £50k last month, my net worth hit a new record high of £67,028. My net worth increased by a (frankly ridiculous) £15,077 this month, or £495 per day. This was massively buoyed by two factors.

House Price Increase – I was never planning to account for house price increases in this chart, but they have gone so bonkers in the last year it seemed stupid not to. Zoopla provides rough estimates, and I have chosen the median. This house I purchased in November (but had the offer accepted in June 2020) has increased by 5% meaning I have made around £14k from that alone. I have backdated this (spread the increase over the past 6months) , but as this is the first month I have accounted for the increase, the numbers are inflated!

Month over month, I managed to save an extra £1000 on top of the mortgage. I spent a significant amount of money on various housing essentials.

Moving forward my income (at least from my day job) will be decreasing. I have taken on a role that requires less of my time (50 > 35 hours per week) and will be using this time to dedicate to blogging and growing other money trees.

My net income from work will be around £2210 per month, and I hope to save a minimum of £1120 per month moving forward. £620 of that is repayment of debt, £500 is going into my ISA. If I can love to increase those contributions significantly.

I have also opened a SIPP on FreeTrade to transfer my pension from my old job into it (around £8.5k). This will be interesting as I will be able to take a very long-term approach to the market (as I cannot access this money until I am at least 55 – 30 years from now.

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