January 2023 FIRE Update – £125,093 / 25.02%

As of January, my net worth sits at £125,092. This includes my house equity of £108,579, other investments (including my pension) of £19,375, and household debt of £7,554.

While I’m pleased to see my net worth increasing, I must acknowledge the impact of macro-economic factors on my house prices. As many of you are aware, the UK housing market has been experiencing significant fluctuations over the past year due to the COVID-19 pandemic and Brexit. Despite these challenges, I’m grateful to see the value of my home equity remain steady at £108,579. I am expecting my house equity to take a dip by the end of Feb, I have started paying back an extra payment towards my mortgage per annum.

On the investment front, I continue to monitor my portfolio closely, and I’m happy to report that my other investments have remained relatively stable over the past month. My pension, in particular, has shown a slight increase, which I attribute to a rebound in $COIN and City Pubs PLC increasing my ISA by around £700 (with no contributions).

In terms of debt, I’ve made a conscious effort to reduce my household debt and maintain a healthy financial balance. I’m pleased to say that I’ve made significant progress in this area, and I’m on track to be debt-free within the next few months.

Looking ahead, I’m optimistic about the future and excited to see what the rest of the year brings. Of course, there are always challenges and uncertainties when it comes to personal finance, but I believe in staying the course and remaining focused on my goals.

Overall, January has been a positive month for my net worth, and I’m grateful for the progress I’ve made. As always, I encourage you to keep a close eye on your own finances, monitor your investments, and stay focused on your long-term goals. Until next month’s update, take care and stay safe!