This is my savings report for April 2020. As every month, I document my progress towards financial independence. At the moment there is nothing exciting going on in my life as we are in week five of the lockdown.
One benefit of the lockdown is that I do not have much opportunity to spend money. I was also on furlough the entire month of April so I spend most days working on Monethalia and exercising. Luckily, my gym offers free live classes every day so I have been taking advantage of that. Still, I went for a walk every day as well, of course with a face mask.
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Table of Contents
Monthly savings report: April 2020
As described in my savings report for last month, my goal for April was to learn more about blogging and do some courses.
I achieved this goal by taking every blogging course I could find. Additionally, I also improved Monethalia’s design and pre-scheduled a bunch or articles. What an overachiever I am!
My total after-tax income this month was £2,521 of which £438 was pension contribution. April was a quiet month with both matched betting and Monethalia returning less than usual. This is not really surprising given the current circumstances.
I also received a free mystery share from Freetrade. This turned out to be BP with a value of £3.42. If you also want to get a free mystery share, you can use my link and sign-up to Freetrade for free. All you have to do then is depositing £1.
Unsurprisingly, rent was my biggest expense this month. Next is groceries which was slightly higher than normal. I think this is due to the fact that most places other than supermarkets are closed so there is not much else to do than going shopping.
In line with this, my expenses for transport and personal where non-existent as I stayed at home for all of April.
- Rent: My rent (bills included) plus internet/phone bill
- Groceries: Practically everything I buy in a supermarket
- Transport: Everything I need to get from one place to another
- Personal: Clothes, hair cuts, make-up, etc.
- Fun: Eating out and social expenses
- Other: Everything that does not fit elsewhere
Financial independence fund
My index fund is not looking too hot at the moment. I guess the market will take a while to recover and it may still get worse. Luckily, I do not plan to withdraw anytime soon. I also finally got out of the habit of checking my funds every few days.
Because of recent happenings, I am thinking more and more about buying a place. A small flat would be all I need really. As a consequence, I may have to pause my journey to financial independence for this year to save for a deposit. But I need to put more thought into it.
Apart from my index tracker, I still have £1,000 invested with Ratesetter for 14.9% interest (due to their sign-up bonus). If you are interested in opening an account with Ratesetter, you will receive a similar rate (because you get a £100 bonus for a £1000 investment) with my link.
Goals for May 2020
In May, I want to reduce the amount I have in peer-to-peer (P2P) lending as I will receive my Ratesetter sign-up bonus. I also may need to switch my main current account as the promotional interest for my current main account runs out.
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