Another good month in terms of income, with a profit of £4,355 – this is a personal best for me for a single month’s earnings.
I followed my financial plan and moved 40% to my personal account, 45% to my savings account (which includes cash for income tax and National Insurance), 10% to my Vanguard stocks & shares ISA and 5% remained in my business.
Actually, these percentages totalled £4,000 – the remaining £355 I kept in my business account as I am planning to invest a little more in my business this month.
Recap from last month
I’m still on the lookout for a new instant access savings account with a decent rate but unfortunately there does not seem to be a lot on the market.
As I planned, I’ve been working on making my business even more profitable and December looks to be even higher than November!
Asset Table
At the end of November, my assets look like this:
| ASSET | VALUE |
| Marcus Savings | £21,965 |
| Vanguard ISA | £7,180 |
| Club Lloyds Current Account | £1,734 |
| Barclays Current Account | £1,383 |
| RCI Bank Savings Account | £2,000 |
| First Direct Current Account | £1,000 |
| Club Lloyds Monthly Saver | £3,600 |
| First Direct Regular Saver | £3,000 |
| CrowdProperty | £3,128 |
| TOTAL | £44,990 |
NET Worth
As always, a fair chunk of my assets is money that I owe to HMRC for my tax and National Insurance, so taking an overcautious figure of what that is likely to be, my NET worth is:
£23,990
Savings
The total of all my minimum-risk savings accounts (Marcus Savings, Club Lloyds Monthly Saver, First Direct Regular Saver and RCI Bank fixed-term savings) minus an over-cautious tax estimate is:
£9,565
Investments
With the announcement of a working vaccine for coronavirus in November, the stock market rocketed and I saw my stocks & shares portfolio increase by about 8% – of course, these profits will not be realised until I actually withdraw the money and could go up or down before that time.
My investments consist of my Vanguard Global All-Cap Index Fund (a stocks & shares ISA) and my CrowdProperty peer-peer lending account. I invested a further £400 in my Vanguard this month and these investments now have a combined value of:
£10,308
Thoughts & Plans
I am continuing my search for an instant access savings account with a decent interest rate, especially as Marcus announced a further cut in their interest rate to 0.5%. Unfortunately, most savings account providers are doing likewise and the ones that are slightly higher have a variable rate and will probably drop again themselves sometime.
I have been considering putting a little extra effort into maximising the interest earned on the little-over £20,000 cash savings I have by using other products such as regular savers, fixed-rate accounts (that limit withdrawals or require notice). I’ve avoided these in the past because I need my cash to be liquid so that I can pay my tax bills on time and access my money quickly in case of emergency. However, with proper planning, this may be a possibility. It is something I will be looking at in December if I have time.
In other news, I’m thinking of moving to a bigger house. I thought I would be able to afford something decent with the money I am earning but property is so expensive! I want to make a plan in the next couple of months to afford the move.