Our lifestyle CV – “we” being me (Firelite), Mr Firelite and Junior Firelite
- We are homeowners (done and dusted July 2018)
- We holiday abroad around 3-4 times a year (mainly extended weekends or weeklong)
- We eat out on average twice a week (mostly under £20 a pop for the 3 of us)
- My own single biggest monthly outgoing is still childcare, which is just under £400 (even with tax relief and after our 30 free hours per month).
- We’re a primarily vegetarian household
- We’re non-car owners
My financial status – understanding my numbers
- I’m responsible for my own pennies (Mr F has a good hold of his finances, phew!)
- I generally contribute 50% to household costs (we don’t count every penny)
- I’m a basic rate income tax payer at the higher end (as is Mr F)
- I have no debt (neither does Mr F)
- This list of bullet points makes us sound more similar than we are, that’s for sure 🙂
My immediate financial goals
- I started this blog end of July 2019 and, by the end of 2019, just about reached my goal of having £100k net worth!
- In the same month as starting this blog, I bought my first index funds (in an ISA)
- Since September 2019, I had a new goal to keep my investments while saving for a deposit for a buy-to-let property.
- My 2019 average savings rate (May-Dec) was 54%. I aim to beat this in 2020.
At the start of August 2019 when I started this blog, it looked liked this…
|Cash at 2-year+ fixed rates||£28,200|
|ISA tracker funds||£13,000|
| Work pension (including lump sum)*||£178,710|
|TOTAL ASSETS (excluding work pension)||£232,500|
|Total assets including pension||£411,200|
|***Theoretical years to FI: 6-7 years***|
*Work pension is mainly comprised of a final salary (i.e. defined benefit) pension, and as such, the calculation is based not on a concrete ‘value’ but on the (cautious) assumption I’ll live 20 years from the date of retirement (modelled on a retirement date of 57 years). I contributed 14 years to this scheme before it ended. This was based on my 2018 statement, which has since been recalculated to be £191,800, a 7% increase.