Savings Diary: April 2017 Update

Like a Kraken breaching the surface, I return.

I’ve set myself a couple of financial goals in order to track my progress to Financial Independence.  Keep It Simple Shithead, and all that.

The most important of these is tracking my savings rate.  Tracking it and, of course, setting a challenging target.  Something like 60%.  Then, once that becomes normality, I’ll increase my target to 65%, then 70% and so on.  At least until my happiness plummets off the edge, into the Chasm of Despair.  Then I’ve found my limit.

The second is around NetWorth growth.  Sure, it’s a little out of my control.  I can steer it in the right direction with my savings rate, but it will also be at the whims of the market to some extent.  Having said that, Mr Zombie fully supports regularly updating and tracking your NetWorth.

Savings Rate – 60% target

Being well and truly in the accumulation phase, my savings rate is the most important aspect of my plan to become Financially Independent.

A high savings rate will be the Nitrous Oxide in my savings journey and also the metric that is most within my control.  I just need to apply a subtle upwards pressure to my earnings and a brute downward pressure on my spending.  Result: higher saving rate.

The first quarter of 2017 left me with a savings rate of 67.5%.

April was unintendedly excellent.  I fecked up and transferred more into my ISA than planned, damn you fat fingers.  And then suffered a bit for the remainder of the month.  Still, it left me with an in-month savings rate of 79%.

The brings me to an average of 70.39% for the year, further cementing my hold on the 60% target.

Cracking month

Cracking month, Zombie

It’s a bit of a silver lining as my crystal ball tells me that May is going to be a poor month on the savings front (that and being half way through the month).  It forced me to delay a few things, meaning a tag team of expenses will be suplexing my savings rate in May.

NetWorth – 45% annual growth target

Hopefully the nice high savings rate will keep my NetWorth chuggin upwards.

To the end of March saw Mr Z with a 10.8% increase in Networth from the start of the year.  April saw a 1.9% increase in NetWorth or a 13.03% increase since the start of the year, which is nearly at the required growth of 13.2% to hit my target for the year.  Markets weren’t quite as kind as they were for the first quarter, so it would seem.



Work has calmed down a lot, which has allowed me to train for a summer of triathlons with a bit more intent.  Like anybody with a inkling towards Financial Independence I enjoy my cycling.  But it has been the swimming that I’ve been enjoying the most.  I’m not quite up to the terrifying 1:15/100m pace for 400m that Rhino referred to, but I’m slowly getting quicker.

I did notice that BitCoin has been going wild once again,  I nearly chucked some money into the unknown way back in early 2013.  But I didn’t, mainly because I didn’t really understand it, which was the right call.  Still if I’d chucked in £1k when the price was about $130 it would be worth north of £15k now.  Has anyone every dabbled in BitCoin?  I’m staying away as it more volatile than a heathy chunk of sodium in water, but I’d be interested to hear.

Prior updates can be found right here.

Mr Z

6 thoughts on “Savings Diary: April 2017 Update

  1. Norm

    I probably would try out putting a little money in Bitcoin if it was only easier to do! It seems like you still have to wire money to weird offshore companies, pay a fee, and there were those news stories about people stealing millions of bitcoins from the exchanges… It’s just not worth the bother.

  2. theFIREstarter

    The Bitcoin surge is incredible, I remember looking at it years ago when I first heard the story about the first Bitcoin pizza now being worth £1000 or something like that, and it had just had a massive dip. I figured it was too volatile and/or would just crash into oblivion… How wrong could I be!

    That same Bitcoin pizza would now be worth 20 million apparently :

    I find this staggeringly jawdroppingly mental chicken oriental! To say the least Haha.

    P.s congrats on the savings rate, smashing it!

  3. FIREin' London

    Hi Mr. Z,

    Glad to see your still alive and congratulations on a superb savings rate! Like you, I nearly put some cash in years ago when it was about 100 bucks a coin, but for me it is unregulated and while I have pension or ISA allowances I can use, I will use that thank you 🙂

    Now, once I fill up 2 ISA allowances, my pension allowances and still have cash left over (having overpaid the maximum on my mortgage)…. then I will be in an interesting position, but I dont know if that will ever happen!

  4. The Rhino

    Glad you’ve got a bit more time on your hands to fit some sport in.

    I just got back from an Italy coast to coast ride across the Appenines, brutal amount of climbing but the views were worth it.

    Swim volume has been cranked up to about 10kms a week and the times are coming down accordingly. I will hit that mythical 5min 400m eventually..

  5. Steve

    Great to see you back Mr Z, and even better to see it’s not been work keeping you quiet!

    I bought $300 or so worth of bitcoins a few years ago following a mini craze for them among some people I worked with. I thought I might be able to make a few quid arbitraging between different exchanges with it being a new-ish market, but that didn’t pan out. As Norm says, buying and selling them is a real faff (I’d have thought it might be easier these days, but I haven’t looked and perhaps it isn’t) so I just sat on my $300 worth after I gave up my arbitrage attempts and periodically look in to see what they’re worth – which has been a pleasant surprise lately, but for all I know they’ll be worthless this time next year. Even if the price goes up a hundred times from what I paid it’s not going to be a life-changing amount of money, so I’m just going to sit on them and treat them as a kind of pseudo lottery ticket.

  6. Bloodbuzz

    Agree with other comments on bitcoin – ive been meaning to spend a few hundred quid on various cryptocurrency but the faff is massively putting me off – having to open special accounts, risk of accounts being closed, fees all over the place, some sites shutting down or not having coins available, orders not being processed properly – also the risk that even if you successfully buy and hold for a few years, it also seems really difficult to sell them into cash!


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