May 2023, was an OK month. Net worth took a hit for a couple of key reasons, which I will come to later. But overall I feel like I am more on track than before and starting to build some momentum with my second niche site, which aligns to the niche I work in in my day job. With a notable advantage of my own knowledge, and a local niche (very little, if any, competition).
This idea will have its limits to the amount of money that it can produce, but I think it could comfortably make £500-£1000 per month through local sponsorships. Again, this is based on the local information that I can have available to me from my day job (nothing confidential of course!). But I am using ChatGPT to get out a lot of basic content to cover my foundations, I will then follow a programmatic SEO approach to build (I’ve got around 200 posts in mind that are all fairly easy to automate). After this point I will see what traction I am getting and go from there.
Below are the numbers for everything apart from my home.
|Monzo Current Account||£1,000|
|RSUs (vesting 2023)||£5,500|
Household equity: £117,421 (down £2.4k month on month)
I have £7k remaining on my other debts (1.5% interest rate)
This gives me a total net worth of £135,707.69 as of today.
The main impacts this month have been a hack of my $KNDX – a crypto token that is currently mooning. I lost all of it, around $1.6k dollars currently, but I forecast it to go much higher. I’ve spent the whole week resisting the urge to look at it every time it goes up. It gives me a very small window into the mind of the guy who bought two pizzas for 10k BTC!
Nevertheless, losing that money has made me more determined than ever to work on my other streams of incoming and skills. The area I am working on at the moment is learning to storytell and create good video content. I am a long way from that, my youtube content sucks, but I am hoping with a lot of practice and just pushing out a lot I can start to see some traction here. Don’t get me wrong, I want to make quality, but I feel that may be out of reach right this second. I also feel I will learn best by focusing on the process and learning, and posting, rather than being a perfectionist and never getting anything out.
Total net worth £135,707
- Net Worth Update: £135,000 – Crypto Hack, Falling House Price, and Programmatic SEO.
- How the ‘Old Money’ Elite Preserve Their Wealth: A Comprehensive Guide
- The Crazy Life of Billionaire Carl Icahn
- Salary Sacrifice and Student Loan Repayments in the UK: A Deep Dive
- Top 5 Best Easy Access Savings Rates in the UK in 2023