Update on Life & Savings

So it’s been a rather hectic last few months and something that I’m looking to ultimately try and get some personal time back from ‘work’. The business is continuing to maintain a relatively healthy profit line and cash flow and forever are we having to pay more and more in tax (certainly what it feels like!).

I’ve decided to change from monthly updates to now quarterly updates to help alleviate the pressure on continuously reporting on various finances / feeling like I’m behind most of the time!

Financial Update | Q4 2022

So it’s a brand new year! 2023 and let’s see how those finances have looked over the course of Q4 in 2022. Q4 in 2022 would cover October, November and December (3 months).

Income | £36,384 (£12,128 p/m)

This does include the end of year bonus as well as a few dividend payments that have been received. So over three months, this averages at £12,128 p/m which includes a mixture of Dividends, Salary and Bonus.

Expenses | £21,384

Crikey – I didn’t realise just how much I had spent (far far too much!). £14,133.35 has been spent on the garden, garden office, various garden projects during these three months. When I take the garden projects, builders, payments for materials, holidays, my ‘normal’ expenses per month are £2,417 p/m, of which I’m actually quite pleased with considering I feel like I’ve absolutely hemorrhaged money over the last few months.

Here’s a few pictures of the works (very much still work in progress! – My garden still looks like a complete building site!)

Saved | £15,375

Representing a 41% savings. Ooof a little below what I had hoped for ideally, but given that 2022 I did have focused around putting into the house, I was determined to try and get as many house projects done as I could! Though apart from the usual Credit Card Bills, building the garden office, all of the furniture, new PC, decorating, in total I’ve spent just over £35,000 for a separate working space this year along with various patio / brick walls as well.

Investment Growth | £4,770

So on the 1st October 2022 my investments (total pot) was at £317,000. I contributed £15,375 and my investments returned £4,770 at 31st December 2022, leaving me with a total of £337,161.

Not too shabby! I’m happy it’s gone up considering what feels to be a very poor year for the markets

Investment Graph

Closing Thoughts

Some things I’m going to work on over the course of the next quarter;

  • Work on getting last bits of the patio finished off (across the garden).
  • Finish off the garden office (sofa / table / last few bits of furniture).
  • Begin planting for the new season!

I do like a project to get my teeth into, but I do feel like I have probably bit off a bit more than I can chew in 2022! I didn’t realise just how long things take, especially when some things I’ve done myself. Probably the most expensive part was the bricklayers getting the long wall up. Day rate for bricklayers is quite the price!

Anyway, super grateful that I’ve gone with it as now I am already starting to reap the benefits from working from a separate office / room away from the house. It means I can now leave behind work and when I’m in the house I’m actually ‘at home’ (not just another room).