It’s that time again! The Playing with Fire monthly update that no one asked to see! I have some special news for you, so keep reading until the end!
August has been a great month. Firstly, it was my birthday on the 4th, so that was good. Secondly, the same week, I got a job, my girlfriend got a job, and so did my sister.
I’ve started my job and its great. Very different, but essentially I’m reviewing construction projects in dispute. The firm offered me the same money I was on before (£80k), but I have the opportunity for up to 25% bonus. I’m in a good place. I’d always wanted to work in the legal sector, and now I am. I’m combining my skills and experience and hopefully making a lot of money in the future.
I opened an NS+I savings account to attempt to gain a better rate of interest for my savings. They are offering 1%, which is better than the current savings rate I’m getting.
I initiated the process of further consolidating my pensions into my SIPP. They are from former employers, and I didn’t want to transfer one until I was sure the tax was OK and the other, until the last payment was made.
As it turned out, it was much easier than I thought, and I didn’t need to wait.
It will also make doing this update easier as I only have to log in to one account now.
I didn’t contribute to a pension this month which was an oversight on my part. I’ll need to get onto HR to sort that out. What a blunder – just missed out on 6% of my salary. Auto-enrolment starts after three months!
With my first paycheck in tow, my income is looking way better.
Expenses overall are down from July. I was surprised as I’ve been burning thought a lot recently. I’ve redecorated my spare room and furnished it with a desk. I have a chair coming too, which will help my back. The purchases are all good things that will improve my work environment in this new working from the home era. Also, I don’t want the back trouble I had back in June to re-emerge, so need a proper setup.
Eating out was up too because I was celebrating having a job, and also just enjoying going out again. Meeting up with friends and family was ace.
Savings rate this month doesn’t even make sense at 412%. That because I invested the lump sum I received.
My S+S Isa is nearly maxed for the year already thanks to the £18k lumpsum, invested in the NASDAQ and SP500.
I still don’t know whether to ditch my FTSE 100 and 250 holdings for something else. Play the long game, but it’s just not happening with Britain at the moment.
The crazy thing is my networth has gone up £53k since last year. (I initially tweeted £75k but then I hadn’t updated my property value – sorry! Turns out Covid 19 really hammered property values!).
The point is, it’s been a year since I paid off my consumer debt. I believe that my investing and saving has greatly helped contribute. Even accounting for the £18k lump sum, its still £35k increase.
If you got this far, you get the best news.
I got engaged! I’m so happy. Ms Playing with fire and I have been talking about it for a long time. I had a grand plan to do it around Easter, but then the world collapsed, I lost my job, and we just didn’t know what to do.
We went for a lovely walk on the bank holiday to a forest in Surrey, and I popped the question. She didn’t expect a thing. There were tears and all.
I can also reveal that I bought a lovely engagement ring, in cash (using AMEX charge card for points of course) from a VERY nice jeweller in Mayfair. It was expensive, but not insanely expensive, but worth it. The cost shall remain hidden from all, and I have doctored my figures so you cannot work it out. Sorry!
All I can say is a did haggle a bit, and they knocked off £500, which was very nice. Always worth asking the shop if there is anything they can do about the price!
I have to say that doing FIRE let me have the option of buying an expensive ring without sweating or getting in debt.
And that’s it. August was the best month of the year so far. Long may it continue!