Just one change to the portfolio this week as I decided to an another unit to LM024:
| Code | Sector | Date Bought | Cost | Value | Gain/Loss |
|---|---|---|---|---|---|
| LM009 LM009-2 |
Gas, Water & Multiutilities | 05/02/2019 04/02/2020 |
£2020 | £2010 | (0.56%) |
| LM012 LM012-2 |
Real Estate Investment Trusts | 20/05/2019 28/11/2019 |
£2030 | £2300 | 12.94% |
| LM023 | ETF | 19/05/2020 | £1020 | £970 | (4.93%) |
| LM024 LM024-2 |
ETC | 01/06/2020 23/06/2020 |
£2030 | £1990 | (1.80%) |
Whilst the lockdown has caused issues for many people - and I especially feel for those who are struggling - it has given me a much-needed opportunity to 'get in front' for the first time in a while.
By 'get in front' I mean:
* figure out a budget
* save up an emergency fund
* clear my debt
* make a plan for financial wellbeing going forward
Postponing a couple of holidays and some city breaks wasn't the end of the world. After all, they were only postponed. We'll get to France and Germany at some point.
There were several points pre-lockdown where I was getting frustrated with bills coming in and expenditure adding up. It was very difficult to save anything when there always seemed to be an unexpected bill that would swallow any spare money.
I specifically remember looking at a spreadsheet and thinking 'if I could just get some space, just a couple of months of minimal spending, I could get back on track'.
Then lockdown happened.
It wasn't possible to go out on the town or travel to work so, naturally, expenditure dropped.
At the end of April I was very happy to discover I had some money left.
And then at the end of May I found I had a surplus again.
This "spare" cash was immediately moved to savings accounts which meant I started each month at zero.
Couple the reduction in spending with an increase in income and just a couple of months on I'm in the best shape of my life both financially and personally.
I've got Baby Steps 1, 2 and 3 done (if you don't know what I mean by this then have a quick read here: https://www.daveramsey.com/dave-ramsey-7-baby-steps)
Barring any massive regression in discipline, the next time some national emergency happens I will be ready. I'll have:
* an emergency fund in place (6 months now but my aim is to get to 12 months)
* zero debt aside from a mortgage and
* both savings and retirement funds growing in the background.
Yes, lockdown certainly wasn't ideal but it has provided some much-needed space which will have a huge effect on my life going forward.
Which can't be a bad thing.