It’s time for this next months instalment of the net worth and share review for 2017. This is the regular look at our finances and progress towards financial independence.
First things first this was not a successful month. I spent 7 days in Las Vegas and it’s true what they say; the house always wins.
Net worth and share review April 2017
Net worth April 2017
This month: £94,445.41
Last Month: £94,037.99
Growth on last month: 0.43%
As mentioned here my target for 2017 was to grow my net worth by £48000 over the course of the year. Averaging £4000 a month will be extremely hard. This has been proven further this month, the total added was only £413.42.
As mentioned above this was a horrific month all due to an expensive trip to Las Vegas. This was the least frugal trip I have taken for some time. We spent money on expensive meals, expensive cocktails and expensive trips.
But you know what? I wouldn’t change it for a thing. The memories I have from that trip will last a lifetime or until I get a degenerative brain disease (my nightmare scenario)
The pay rise has finally gone through the system which means I’m now getting more cash on a monthly basis. The biggest thing for me is I’m now saving an additional £100 per month into my pension.
Mortgage Over Payments
No over-payments were made this month, due to the holiday I just didn’t have the spare cash. Depending on the situation next month I may well try to payoff some extra to get the average for the year back up to a good level.
I still added £833.33 into my share account this month. Even with added expenses it’s important to pay yourself first. The money as always is automatically taken from my account and invested.
The fund I’m currently investing in is still the…”HSBC Global Strategy Dynamic Portfolio C” You can read more about why I have chosen it here
I did make an additional investment in a new format this month and this was due to a couple of important reasons.
Firstly the money was saved into the investing management company Nutmeg.
Why did I decide to invest in a different provider rather than sticking with Halifax?
- I wanted to try out Nutmeg to be able to provide a review later in the year.
- I wanted to ensure my wife had very easy access to some money should the worst happen. My next door neighbour passed away very recently. His wife has since had some issues getting access to some of their savings in the short-term. By getting Mrs FrugalFox to set up the investment herself she knows the investment exists and is able to manage it herself. Access will then be as close to instantaneous as possible.
- Topcashback.com were offering a significant (£200) sign up bonus if you signed up with Nutmeg before the end of the tax year. The caveat being you needed to put in £500 straight away and then set up a standing order for £100 additional pounds invested monthly. I believe if you click-through here you are still able to get £110.25
We set up the investment to be as aggressive as possible so that the wife is able to see that in the short-term investments can go down as well as up. With the long-term advantage of providing greater returns.
Last Month’s Value
This Month’s Value
Share Value Growth 11.57%
|Share Code||% Growth|
Overall growth for the month on the surface looks fantastic at 11.6%
This is quite deceiving however as individually most of the funds and shares performed poorly. Two of the shares (BP. and GSK.) both paid out dividends in the last 30 days which covered up some of their individual losses.
The main saving grace for the month was provided by my employer who awarded me an additional 270 shares split across two different plans. I also had to move some company shares from one plan to the other resulting in a large increase in one group and a significantly smaller amount of growth in the same share in a different group.
Travel Loyalty Clubs
Good growth achieved in my hotels.com free nights with one free night awarded. I also got plenty of Avios from our trip to Vegas. IHG only grew slightly, mainly due to being off work for two weeks. Now I’m back to the grindstone the points have already started building up again.
That’s it for Net worth and share review April 2017. For more updates on shares and net worth join up to the super newsletter below.
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