Wednesday, 18 October 2017

FI feelings

I got a temporary income source that will provide me monthly with a sum bigger than my actual wages, completely passive. A short term Financial Independence, i could say. And despite my romantic view on the far away goal of Financial Independence, with a mystical feeling of "I did it!", nothing changed. I am the same, i do the same things. Sometimes the journey is more important than the goal. The things that i learn will provide for me anytime, anywhere.

Tuesday, 10 October 2017

Cryptocurrency corner

As i was mentioning in some past posts, there are many opportunities with bitcoin and his alt-coins. Any other digital coin except bitcoin it is called an alt-coin. The ones worth trading right now are bitcoin, ethereum and litecoin.

The main option to make a profit are:

1. Day trading, as they are very volatile. If you plan to become a day trader, be vary of the fees charged by your exchange. I am using Coinbase to store the biggest amount of the digital currency, because i can send money from and into it using my bank account, and also because they have the vault option, where you can protect your coins from a hacking attack. But there are other options too, even if they lack some of the choices offered by the exchange mentioned before.

2. Mining - can be solo-mining, using your computer (which it is not efficient anymore because of the increased difficulty of the block-chain) or dedicated equipment (such as Ant-Miner S9). The second option is pool-mining, where more individuals join together and share the benefits and the risks. The last option is the cloud-mining, where you buy mining power from somebody else, in exchange of an amount of money (which can include the rent, the daily maintenance fee or the transaction fee). Most of the contracts offered today are slightly over or under the money paid for mining, and they can be for life (meaning they run as long as the company is getting some profit) or for 1-2 years. You can find online calculators to check their return on investment. But there are always alternatives, and you can make your own mining farm if you have a room available, and some solar panels or a eolian windmill to get free electricity, just to give an example.

3. Faucets - but this is only to experiment with the cryptocurrencies, as we are talking about a small amount. I was talking about this here.

My idea is to redirect the profit obtained from cryptocurrency to classical ways as shares, Ratesetter P2P lending and TheHouseCrowd real estate crowd-funding, to name a few options.

Thursday, 5 October 2017

September 2017 - Monthly report

September 2017 - Monthly report

My Overview

Total portfolio: £26556(-1313)
Debt: £195 (-202)
External funds: ZERO
Car: Sold
Net Worth: £26371(-1601)

Investments UK: £10812(+1042)
Investments overseas : £4160( Same)
Cash: £3262(-1218)
Pension: £7747(+74)

Total Income: £2099 (+214)
Passive income: £573(27.30%)
Savings rate: 59%%

Side hustle 2 value: £2.50
Side hustle 3 value: £529 (Profit August = 393)
Side hustle 4 value: £27 (Funds:1030)

How shall i start? A month full of changes in most areas of my investment's strategy. A massive drop in net worth of £1601, and i am proud of it, because i rented a house close to work, and, even if i spent £2080 on deposit and first month rent, and another £1100 on getting the house ready, i sold my car (this move alone will bring me £100+ less in monthly expenses), and i will walk to my workplace (added health benefits also). Next month i will finish paying my loan, another small victory is coming. Thinking at the future house/flat that i want to buy, i made a Help to Buy ISA with Santander, and i saved 1000 initial deposit + 2 x 200 for September and October => 1400 already in the account (hence the jump in the UK investments total amount). A decent month for matched betting with almost 600 (573 to be exact). Side hustle 2 is still there, but i did not had enough time to work on it. I am experimenting with cryptocurrency, as i suggested in some of my previous posts, testing a "scam the scammer" operation, but also trying some combination of faucets (see post no.1 and post no.2 about it) and mining(no posts about this yet, as i had some technical difficulties because of the China ban on Bitcoin and co). But this month i will reap the rewards from my initial investments, hoping to a complete payment, and maybe something extra.

My plans and hopes for October are: to move all my staff in the rented house and stop paying the previous place rent, to move all her stuff and start to reconvert her house for the future tenants (still 13K to pay on mortgage) after a general mending and cleaning, to continue to learn about and explore more opportunities related to cryptocurrency.

Wednesday, 27 September 2017

Making money by addition or subtraction

Ideas to achieve it:

1. Addition: October will be the month when I send all the cryptocurrency profit into my account (30.10.2017)

2. Subtraction: Sell the car and reduce monthly expenses by £120. Call insurance to cancel the contract (Done). Call to cancel road tax after i sell it (29.09.2017)

I will see what else will pop through my mind. Need 8 more ideas until the end of October.

Thursday, 21 September 2017

Wild at heart

A new adventure is beginning now. I will move in a rented house, in a strategic switch meant to rent a property and finishing the mortgage completely in one year, and then saving for buying the second. Real estate, here i come. I will also sell one of the cars, and walk to work, saving more than 80 pounds because of this. Freeview instead of Virgin TV channels, another £40 saved. My simulation is full of hope, and i want to explore the domain of cryptocurrency mining and try to get a decent profit from there also. I was not writing as much lately, i had few ideas, but i did not explored them fully. So much work, so little time. I will also need to change my recording formats, as i need to add new areas of both expenses and saving methods. But, this is a challenge i gladly take, and i cannot wait for this year to end to see my final moves results.

Monday, 18 September 2017

Quote of the day

"If stock market experts were so expert, they would be buying stock, not selling advice."
(Norman Augustine)

Sunday, 17 September 2017

Time management - exercise 1

I tried a time management technique - writing every hour what I am doing for a week. The final results are here, and it is fascinating.

Most time consuming activity is sleeping with 31.6%, followed by working time with 30% of my time. Add to this the time for transport - 8%, and I have 69.6% gone, more than 2/3 of my life. Then I got time spent with my other half - 18%, time spent online on the phone or laptop, big part of this also work - 10.41%. The rest it is used for cleaning the house (6.95%), social activity (3.82%), eating (1.74%) yoga (1.74%) and personal hygiene (1.04%). This is my life now.

On my personal notes, financial independence will free up to 30% of my time, huge benefit, which I hope to use it for family, social meetings and relaxation. Need just to get there.

Maybe I will do this exercise again in a couple of months. See you soon!