Welcome to my monthly savings report for January 2020. The first month of 2020 started quietly before work at my full-time job picked up. The weather was overwhelmingly bad and, really, the most exciting events this month were visiting a 4D cinema and buying a Nintendo Switch.
To ensure Monethalia remains free of charge, this post contains affiliate links.
Monthly savings report: January 2020
As described in my savings report for last month, my goal for January was to improve Monethalia’s search engine optimisation (SEO).
This is still a work in progress. In total, 19 posts have been updated so far. I am making slow progress because it is a good opportunity to also update the content and ensure my posts are helpful for my readers.
Monthly savings report summary for January 2020
My total after-tax income this month was £2,767 (or £2,531 without pension contribution). Monethalia had its best month so far and made £173. Thanks to everyone who clicked on my links! My blogging income has become more and more reliable which is great.
My Ratesetter loan was settled early (I signed-up in March last year). Therefore, I was not credited with the full 4.9% interest but 4.3%. It matters little though, as I have to leave the money with Ratesetter until April to get the £100 bonus. You can get a bonus too by signing-up via my link.
My total expenses this month were £820. Of this rent was my biggest expense, but overall, it is still very low for London. Therefore, I am not going to complain!
The Nintendo Switch really impacted my January expenses. I thought about the purchase for a long time. Now, saying ‘goodbye’ to my Playstation 3 is a good opportunity to upgrade. I am currently in the process of selling my PS3 games so at least I will have a bit of extra income next month.
If you are not with Airtime Rewards, I highly recommend signing up. It is entirely passive and you will get money off your phone bill for all kinds of purchases. My code BVPJVUG6 will give you a £1.50 bonus.
- 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
My index tracker grew by 2.5%. This number is probably not that meaningful though as it changes every day. From this month’s savings, I also contributed £2,519 which means I am now nearing my ISA limit.
Apart from my index tracker, I still have £1,000 invested with Ratesetter for 14.9% interest. If you are interested in opening an account with Ratesetter, you can get a similar rate using my link. Brickowner currently has a similar offer (invest £1,000 get £50) when you sign-up with my link.
Goals for February 2020
In February, I am planning to continue updating older posts. There are still 25 posts left so this should keep me busy for the entire month.
In April, I will need to move my money around a bit and I will need to have a think of what to do:
- I will be receiving my Ratesetter sign-up bonus of £100
- The promotional interest period of my current account runs out
- The ISA allowance renews
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