To be on target I need to aim for an increase of approximately 2.8436156% a month –> ([1.4 ^ (1/12)] – 1) x 100 or 32.37% to the end of October. My Net Worth includes my ISA, Pension and cash assets, less any borrowing (i.e. credit cards).
I don’t include the equity in my house in this amount given it’s illiquidity and uncertainty around valuation.
The main event
Net worth increased by 10% in the month and that brings me to a 40.87% increase since the start of the year! I’ve hit my target a whole two months early! Have that ye’ consumerist bastards!
This is an unexpected pleasure. Last month I was just about on target, this month I have blasted through my goal for the year.
So what actually happened, why the big jump from September to October?
- There has been a bit of a market recovery in the last month or so, which has helped.
- I had a payrise at work, at nearly the beginning of the year. But it got messed up, and finally came through now in one chunk. I saved a good portion of this.
- I added some small savings accounts that weren’t previously included. I put a little away each month to cover my car costs and holidays. They’ve got a little surplus in them….so why not.
That is one sexy looking bar chart.
NW for the year to date is here.
Savings rate – Target average of 60%The targetI set a target of 60% at the start of the year, to challenge myself to get my savings rate up towards the lofty heights seem by some other bloggers and it’s being going pretty well. I’ve been really pleased that I’ve managed to hit 60% most months.
RealityI had some back dated pay come through, which was used to either pay some wedding expenses off in advance of next year or it was saved. I spent more than I saved of this extra income. So savings rate for the month was down to 53.9% from the 60+% seen in the last few months, not my worst, but not the best.
Overall this leaves me at 58.3% for the year to date.
I’m running out of time to pull this one back, but if I get to the end of the year there or thereabouts I’ll be well chuffed. I may even celebrate and buy a new biro or something.
One Pass and one Fail for October.
Spend less, Save More and Escape the Horde