Simple Pound

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It’s June 1st and that - as usual - means it’s time for reflection. I haven’t posted much in the last half of the month as I’ve been struggling with some issues at work and needed a lot of time to reflect on non-financial issues. The good news is that I’ve got a new series in the works that will hopefully be useful to many of you, but more on that in a separate post…

Overall the May results aren’t too bad… an increase of 3.67% in net worth translated into a 1.5% step towards my next net worth goal. The stock market didn’t do too badly and hence both my pension and life insurance were up. Those developments, however, are masking the fact that I have dipped into my deposit savings to fund my piano purchase.

The good news is that it didn’t have too bad an effect on the “bottom line” but on the other hand it’s forcing me to live paycheck to paycheck at the minute. The reason is that I haven’t fully funded it using savings, but paid for it using my credit card (for those reward points!) - hence most of my salary that isn’t already allocated to fixed costs (rent, utilities etc) goes towards the credit card payment.

For the last two months it has always been enough (just!) to cover the total so I wasn’t forced to carry a balance (yet?). My aim now is to drastically reduce my spending to get back in a position where I have money left over from my previous paycheck to go towards the bill.

I guess the fact that I’ve just paid for my summer holiday won’t necessarily help with next month’s bill either… *blush* But hey, blame the British spring and the miserable weather it has brought with it ! Who doesn’t need a little bit of sunshine to compensate??

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