Real Estate
This month, for the first time, I received the full rent payment for the flat I rent out in Poland. I also paid an 8.5% tax advance. In Poland, you can choose to pay tax either monthly or quarterly, whereas in the UK, taxes are paid after the tax year has ended.
Blog and YouTube
November also marked the launch of my blog and YouTube channel. Over the years, I’ve started many different projects. Some didn’t get far because I quickly lost interest. That’s why I spent a lot of time reflecting on what truly interests me, and I finally realised that personal finance and the journey towards FI (financial independence) are my passions. Unknowingly, I’ve been dedicating much of my time to these topics. I hesitated to start a blog or YouTube channel in this area, mainly because I’m not a professional (Disclaimer) . However, I’ve come to understand that I really want to share my FI journey with you. Who knows, I might even learn something from you along the way!
Big Commitment
This month, we also decided to start overpaying our mortgage. While this might result in lower returns from the stock market, at the end of the day, we’re buying our own home and paying off debt.
Cycling to work
Winter is approaching, and it’s not exactly the best season for cycling. Unfortunately, my commute is often gridlocked, which is incredibly frustrating. I usually drive a diesel car with a DPF filter, and short trips tend to clog it up, leading to costly visits to the mechanic. Cycling allows me to avoid the worst parts of the traffic, and my commute only takes about 15 minutes by bike. I’ve also purchased some cycling gadgets to make my journey more comfortable—and most importantly, much cheaper! I’ll share more about these soon.
Numbers at the end of the month
£153.33/month Theoretical Passive Income (If we were to start drawing from our ISA’s and Real Estate).
£164404.63 Mortgage left to pay(£450.3 payed towards principal).
At the moment, the house will be paid off when I turn 67 years and 1 day.
£23 Saved with an app that pays cash back.
£2 Saved on diesel by cycling to work.
Christmas Is Coming
The festive season is just around the corner, bringing extra expenses. This year, we’ll be driving to visit our family in Poland. I’ll share updates on that trip at the beginning of January. Stay tuned!
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