Net Worth Newbie

formerlyskint.com - net worth newbie

I’ve been following various bloggers tracking their net worth for a couple of years or so. Over the past few months, there seems to have been a little flurry of posts from some of my favourites focusing on net worth.

After reading some of these, I realised that I track literally every other aspect of my financial life, but this was one thing I didn’t have a full grip on. I mean, I had a rough idea, but tracking my net worth on a page in black and white? I am a newbie!

 

I built a super simple net worth tracker spreadsheet and started on December 8th. I’ll be updating this on the 8th of each month going forward.

All well and good, but the one thing I have struggled with is how exactly to calculate the magic number. There are so many variations on what people think should be included and I can see it from all sides!

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2018 Financial Goals: A Halfway Review

Formerlyskint.com - August Review Financial Goals 2018

Well guys, I thought it was about time I faced facts and had a look at how I am actually doing with my financial goals for the year. We’re more than half way through and some of my time sensitive goals are past their sell by date.

 

Back at the beginning of the year, I published what I wanted to be my financial goals for the year. You can check out the full post here

I like to have specific goals in mind each year as I find it very difficult to save money with no motivation, nothing to work towards. Since then, I’ve had a bit of a revision of these goals during my first quarterly review, so what I have listed below are the all new and improved version!

 

“Save £800 by June to cover my half of car insurance on both cars (when we eventually buy a new one)

Save £1500 to supplement my new car fund by July”

 

I’ve managed to pay off my car insurance all in one chunk again this year, which is awesome. I love the feeling of just not having to think about it for another year! I really would recommend this to anyone, it might take you one year of struggling to get the fund to pay upfront but I find it so much easier to save through the year when your regular outgoings are lower.

 

I feel very little sense of achievement from saving this pot and I was very sad to spend it all again, but I do need to remind myself that saving for next years car insurance isn’t really saving!

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2018 Goals: How Do I Measure Up So Far?

Formerly Skint - 2018 Goals A Review

Guys…It’s almost April. The first quarter of 2018 is officially over.

Exactly one week ago, to the hour, it was snowing. Today, I am writing this in my garden with a gin cocktail in hand. Granted, I am well wrapped up, but it is a beautiful day!

 

I thought this would be as good a time as any to have a look back over my financial goals for the year, since we are fast approaching the July deadline which I’d set on a couple of them.

I have always been well aware that these would change through the year and I’m fine with that, as long as I have a starting point though, I really do need motivation to save money.

 

You can read the full post on my financial goals for the year here.

My financial wishlist looks something like this…

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Money Diaries XL: February Review

February Money Diary Review Info

Some time mid January, following a session of binge reading Refinery29’s Money Diaries series, I decided to track and share my own spending. Having completed one whole calendar month of this, I’m kind of surprised by how unsurprising the results are. I thought it would be easier to make sense of this and budget going forward if I broke it down to a percentage of my monthly salary.

The infographic above (which I have LOVED producing!) shows the breakdown of my month.

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Money for Nothing? 4 Ways to Earn Cashback as You Shop

Formerlyskint.com - Earn Cashback on your Shopping

Over the years, I’ve seen countless adverts for cashback websites.

Cashback credit cards, cashback bank accounts, cashback rewards are everywhere!

I paid very little attention to it in the beginning, assuming it must be a bit of a scam. Surely anything offering to give you free money just for spending money must be a scam, right?

Not necessarily…Now, as I have mentioned before, I am no financial expert. I do not claim to have any qualifications making me the person to trust with your money. I do, however, have a keen eye for saving, and a slight obsession with money in general, and over the years, I’ve built up a fairly useful set of personal financial planning tools.

In the months leading up to buying my apartment, a good work friend had mentioned one day that she had logged into her long forgotten TopCashBack account only to find that she had £300 of cash rewards sitting there waiting to be claimed. My first thoughts? Bullshit.

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