October Update : NetWorth and Savings Rate

Hello hello!

Another Net Worth update for you and for me, It was a bit of an expensive month for the only Zombie who cares more about finance than munching on brains. We are getting married next year and trying to finance it as we go along rather than using savings . It’s working, but sometimes it feels like I’m living off about 5% of my salary, while the rest is saved or spent on wedding bits. We will probably dip into savings closer to the time, but we won’t be financing any of it by credit. Not in my house!
We also had a small holiday in Belgium in October. As we passed though Brussels I could feel NMW‘s presence, a crack in the consumer faΓ§ade, a small fleck of frugality against the backdrop of a bustling metropolis. I’ll admit, during my time in Belgium I ate a good number of waffles.
As part of the growing platoon of personal finance bloggers, I update my networth and savings rate each month and compare my progress against goals set at the start of the year.
I set two goals at the start of the year, one to increase my networth by 40% and the other the hit a total savings rate of 60%. Some pretty tough targets, but I have found that setting these goals for the year has been inspiring. For some reason just having it written down makes it that much more tangible and difficult to ignore.
Silence grates my ears, always got to have some music playing. Today’s spreadsheet and blog updating tunes are from the album ‘Lore’ by Elder, have a listen if you fancy something different.
Goal 1 – Increase Net Worth – Target of 40% across the year
The target
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.  

I did a bit of tidying up of the blog and updated the Savings and Networth page.  I’m going to spend a bit of time this month looking into moving to WordPress so I can have some more flexibility around how the blog looks.  If anyone has any tips or pointers it would be much appreciated!

Spend less, Save More and Escape the Horde

Mr Z

16 thoughts on “October Update : NetWorth and Savings Rate

  1. weenie

    Great work on smashing your net worth goal – well done. Despite failing, that's still an awesome savings rate you've achieved, especially on the back of your impending wedding – that's bloody brilliant! Maybe that's the Kindle book you can write – how to pay for a wedding AND save!

  2. Mr Zombie

    Thanks Weenie. Haha now that would be something. There will be some pain to come next year I suspect, but we are working hard to minimise it!

    I'm really pleased with the NW πŸ™‚

  3. theFIREstarter.co.uk

    I have no idea how you are maintaining this while saving/paying for stuff for the wedding as well. Well done!

    I started the blog before we got married and although I wasn't tracking properly at that stage, we probably only had a 20% savings rate if that. It would be interesting to go back and compare actually!

    Cheers and keep up the great work, I think weenie's Kindle book idea would be a smash hit!

  4. Mr Zombie

    Hi TFS,

    We'll see where we end up…but so far so good. I know I have at least one tranche of savings assigned to the wedding pile so there will be some pain come next year…

    Between us we got the FI approach to weddings and babies covered!


  5. Mike Rawson

    Hi Mr Z,

    I can help with Word press also. (And well done on progress).

    Weenie – don't know anything about SiteGround, but assume you mean for WordPress hosting. Happy to help with WP stuff.


  6. Jim McG

    Saving 60% is fantastic and I too was relieved to see the markets come back a bit during October. Hard to believe FTSE was nearly at 7,200 not so many weeks ago. Which is when I revised my goal of "Convert big slug of investments to cash when market reaches 7,000" to "when market reaches 8,000". We never learn…..

  7. Living cheap in London

    i'll be curious what a "frugally inspired" wedding costs these days… back in 2002 Mrs LCIL & pulled off our wedding for around Β£3,500, which whilst not a frugal amount of money, was a wedding with 120 guests taking place with Thames views in Greenwich, London:

    Invitations: we printed our own
    Venue hire: Β£700 (much cheaper on a sunday so opted for that)
    Venue food/drink: Β£1400 (buffet food, not waiter/waitress served)
    Wedding Dress: Β£600
    Rings: about Β£400
    Flowers: wife got them at the market – Β£50
    my suit & best mans: hired – Β£200
    music – 3 mates did DJ sets as our gifts from them – got them a present each for about Β£50 each
    photography – friends did this – got them a big present each about Β£50 each.

    I'm sure there were some other incidental expenses but we that was most of it…. all paid for at the time from savings either way.

  8. FIbrarian

    Great stuff Mr Z

    I came a bit unstuck with a personal goal myself recently but you seen to have got the balance between "tough but achievable" just right. Keep it up!

    I'd be very interested to see a post on planning a frugal wedding (does such a thing even exist?) I fear my clock is ticking so any tips and tricks to store for later would be handy.

    Loving the quotes at the top of the page as well. You certainly are a very well connected zombie πŸ˜‰

  9. Mr Zombie

    Yeah, the recovery was a nice surprise.

    It really does seem like the UK has a thing for the FTSE100 and the 7,000 mark, does the market really find it that spooky?


  10. Mr Zombie

    Hi LCiL,

    I'd say that was incredibly frugal! For 120 people, amazing. We are having about 120 too.

    Ours will be more than that, embarrasingly more πŸ™ But I am working to keep the normally super frugal Mrs Z in some kind of check πŸ˜€


  11. Mr Zombie


    It's good to fail a goal everynow and they, as long as it doesn't put you off!

    I will pull a post together after we are done, it's in the pipeline πŸ™‚ Perhaps it will be a list of mistakes, haha.

    Ooohhhh yeah, Bill Oddie, big time reader



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