The Full English – Media narratives

What’s piqued my interest this week?

Recently I’ve pretty much stopped listening to/ watching the news. This is not just down to the ongoing spin-doctoring in the Tory leadership election/ geopolitical elite, which frankly makes me so disenfranchised I feel like burying myself in soft peat.

No, what’s really getting my goat, is the descent of the media into a selection of soundbite opinions amongst a race to be first on the scene to a news story. This is even at the expense of editorial correctness or narrative structure. There’s a few exceptions to this: certain broadsheets (The Guardian, The FT, The Independent) appear to still be pursing the long read investigative journalism route. On the whole, and with finger squarely pointed at the BBC, the media seems to constantly be chasing a story first circulated on Twitter/ Reddit. In the days of social media, everyone is the first reporter on the scene. They share online, and whatever gets shared gets picked up, even if it runs counter to the print media’s planned direction. The print media then has to sprint to keep up, and has to include irrelevant people’s opinions to appear relevant to the common man. What does the common man think about this niche piece of technical news of which he has no understanding?

Case in point one: The NHS and Doctors’ pensions.

I’ve written about this before, as it hits close to home. Mr YFG did a far better job at explaining the technicalities, and the ins and outs of the Lifetime Allowance (1, 2). The nub of the issue is that many consultants are breaching the LTA when working extra shifts to make-up for the shortfall in NHS staff. Yes they’re paid well, but because these extra shifts, which the NHS requires in order to meet targets like the 2-week-wait for cancer referrals, are over the LTA the effective tax rate can be >100% for the shift. They’re effectively paying to work extra hours. Rather than working the extra hours they’re opting out. So the NHS is short-staffed. Which it has been for years, partly due to the hostile working environment created by the current government (despite their rhetoric). The Financial Times has been reporting very clearly on this for months, and within the health service Doctors’ reps (e.g. the BMA) have been banging on about it all year (3, 4). So why can’t the Guardian get its head round it? The article they’ve put out in the last week is titled something about “working to rule”, with a tagline:

“Doctors warn health services in danger of meltdown and facing ‘existential threat’” (5)

They can’t seem to decide where to take the piece. How do they make it relevant? Oh, I know, lets make it about the Tories dooming the NHS… ish. With a bit of confusing information about potential solutions for good measure. They can’t just report it with explanations. There has to be an angle. And they can’t compete with the likes of the Daily Mail, who appear to be on a one-way crusade against those vicious, spiteful, mean doctors. After all ‘waiting lists have doubled in three months as doctors refuse to work’ (6). How could they refuse to pay to work, to pay to take on responsibility for people’s lives (7). See here; Steve the welder from Leeds interviewed as a bloke off the street stating doctors should be forced to work. Why hell does Steve’s opinion matter?

Case in point two: PCP contracts on cars

I included two links to this last week. My god it does my nut. If you can’t afford a fancy car with simple maths, why the hell do you expect to get one when the maths is more complicated? Despite this there’s a slew of whinging Karens’ in the media, complaining that they were sold things they can’t afford (8). That they didn’t understand their contract (9, 10). Why is that anybody’s responsibility other than your own? A fool and his/her money are easily parted.

Ohh righhtttt, people don’t like being told they’re fools. Especially when sharks wearing lawyer suits are telling them that they’re owed compo, backed up by tit-rags (11). Because as the PPI gravy train ends those sharks are looking for a fresh meal, and they follow idiots to mis-selling like blood to an injured baby seal (12). They’ve already missed out once, when they waited with baited breath for the FCA to adjudicate mis-selling (13). All they got was tighter regs. Now they’ll be damned if they can’t find another way to that mis-selling cold-call (14). Never mind the fact it’s just people being idiots. I’ve talked before about how I think PCP is the next financial bubble, despite whatever wonky statistics the car industry share (15). In my opinion, the mouth-breathing hordes clamouring for compo because they can’t afford their finance deal are just the storm-clouds on the horizon. The fact the media follows their narrative of misery is just one more reason for my loss of respect.

Have a great week,

The Shrink

P.S. A bit late getting this out, what a day of sport!

Other News

Opinion/ blogs:

The kitchen garden:

What I’m reading (affiliate links):

Food Of The Gods: The Search for the Original Tree of Knowledge: A Radical History of Plants, Drugs and Human Evolution – Terence McKenna – An ethnobotanist explores humanitys’ fascination with hallucinogenics, and the role of altered states of consciousness on the development of human society.

References:

  1. https://youngfiguy.com/nhs-pension-scheme-and-doctors/
  2. https://youngfiguy.com/the-lifetime-allowance/
  3. https://www.ft.com/content/e6d3e03c-4e12-11e9-b401-8d9ef1626294
  4. https://www.theguardian.com/society/2019/jul/08/nhs-faces-existential-threat-as-senior-doctors-work-to-rule
  5. https://www.hsj.co.uk/topics/pensions
  6. https://www.dailymail.co.uk/news/article-7223053/Hospital-waiting-lists-DOUBLE-three-months-doctors-refuse-overtime-NHS-pension-reform.html
  7. https://www.telegraph.co.uk/news/2019/07/07/nhs-waiting-lists-soaring-consultants-refuse-work-overtime/
  8. https://www.bbc.co.uk/news/business-your-money-48776454
  9. https://www.thisismoney.co.uk/money/cars/article-7140919/Can-modify-car-finance-dangers.html
  10. https://www.thisismoney.co.uk/money/cars/article-4469742/Why-won-t-car-finance-let-hand-PCP-vs-HP.html
  11. https://www.thesun.co.uk/money/8673492/drivers-owned-compensation-car-finance-deals/
  12. https://www.gladstonebrookes.co.uk/blog/2019/03/29/pcp-compensation-new-car-buyers/
  13. https://www.am-online.com/news/finance/2018/09/13/ppi-lawyers-ready-to-react-to-fca-s-verdict-on-pcp-car-finance
  14. https://www.confused.com/car-finance/finance-options/car-finance-mis-selling-scandal
  15. https://www.independent.co.uk/money/spend-save/new-car-buy-consumers-finance-on-credit-diesel-registrations-drop-income-a8246106.html
  16. https://www.bbc.co.uk/news/business-48926232
  17. https://www.bbc.co.uk/news/business-48941011
  18. https://www.investing.com/news/stock-market-news/futures-push-higher-on-rate-cut-optimism-1922051
  19. https://www.thisismoney.co.uk/money/markets/article-7241921/Trump-fires-broadside-Facebooks-online-currency.html
  20. https://www.thisismoney.co.uk/money/markets/article-7240443/Lookers-shares-tumble-25-car-dealership-warns-profits-reverse.html
  21. https://www.bbc.co.uk/news/business-48954323
  22. https://monevator.com/why-your-pension-wont-be-plundered/
  23. https://www.ukvalueinvestor.com/2019/07/3-high-yield-bargains.html/
  24. https://theescapeartist.me/2019/07/10/how-to-own-the-world-and-how-to-move-the-world/
  25. http://www.retirementinvestingtoday.com/2019/07/pf101.html
  26. https://cashflowcop.com/financial-freedom-by-making-decisions-like-a-police-commander/
  27. http://earlyretirementextreme.com/preliminaries-to-retiring-in-5-years.html
  28. https://indeedably.com/the-red-pill/
  29. https://simplelivingsomerset.wordpress.com/2019/07/08/schools-not-even-out-and-the-silly-season-is-well-underway/
  30. https://www.iretiredyoung.net/single-post/2019/07/12/Is-normal-life-better-than-FIRE
  31. https://gentlemansfamilyfinances.wordpress.com/2019/07/08/why-lending-to-people-who-need-to-borrow-is-a-bad-idea/
  32. https://gentlemansfamilyfinances.wordpress.com/2019/07/11/a-12-year-review-of-zopa/
  33. https://gentlemansfamilyfinances.wordpress.com/2019/07/13/ski-holiday-2020-booked-fire-snow/
  34. https://www.msziyou.com/appeal-quits-working/
  35. https://www.msziyou.com/enough-funds-retire/
  36. https://thesavingninja.com/the-10-commandments-of-fire/
  37. https://thesavingninja.com/update-a-thought-experiment-about-happiness/
  38. https://drfire.co.uk/june-2019-report/
  39. https://ditchthecave.com/work-less-hard/
  40. http://www.frugalwoods.com/2019/07/12/a-vacation-and-other-june-2019-expenditures/
  41. http://quietlysaving.co.uk/2019/07/12/timing-of-fire/
  42. https://lovelygreens.com/blackcurrant-rum-infusion-recipe/
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The Financial Dashboard – June 2019

The goals for June were:

  • Finish my portfolio spreadsheet
  • Compare current insurance rates
  • Look into further financial planning: wills and income protection
  • Plan healthy weekly dinners
  • Exercise at least 3x a week

Checking the assets and liabilities:

Assets June

June Liabilities

These are taken, as always, from my Beast Budget spreadsheet. This month my net worth grew by 6.54%. I’m very close now to clearing my credit card debt, and I’ve been quietly saving cash into emergency funds. I invested a bit in a CrowdFunding round (more on this in my Q2 update), so didn’t top up my ISA which has been merrily growing. The wonders of compounding!

Goals:
Goal achieved: Finish my portfolio spreadsheet

Pretty much there. Think I’ll be adding to it in the future, but for now I’ll be sharing some screenshots of it in my Q2 update.
Goal achieved: Compare current insurance rates

My car and house insurance both came due this month. I took advice from Money Saving Expert; renewing three weeks before time, optimising my job title and using multiple comparison sites (1). The usual comparison sites turned up some likely suspects, and like any good frugal bod, I did a bit of switching and saving. Perhaps most amusingly, Hastings Insurance quoted me £150 less through Confused.com than on my renewal document. They were cheapest and agreed to honour their online quote. That pays for a few drinks!
Goal achieved: Look into further financial planning: wills and income protection

I’ve been listening to a few podcasts lately, and it’s a big feature and recommendation of Meaningful Money and Money To The Masses that you should get proper financial planning for the worst as foundations for building wealth (2, 3). Shouldn’t be surprised really, given they’re mainly Chartered Financial Planners. I don’t have a will, but all my assets would go to MrsShrink and there’s no complicated stuff to deal with. I have some income protection through my job and life insurance to pay off my mortgage. MrsShrink is a different story, so we may get some professional advice to head-off difficult discussions in the future.
Goal failed: Plan healthy weekly dinners

Trying my best for this, but been working away a lot or on horrible hours. No excuse, so going to double down next month.
Goal failed: Exercise at least 3x a week

Again failed this for the reason above. Pause for thought considering I’m paying £75/per month on gyms/ sports clubs. I tell myself if I can go twice a week to both then it is cost effective. Need to look at my schedule and work out how I can sort this.

Budgets

  • Groceries – Budget £300, spent £102, last month £264.72. Eating whilst away a lot, hence spending little
  • Entertainment – Budget £150, spent £0, last month £139.47. I feel like this is incorrect, but turns out we’ve actually not done anything. How dull!
  • Transport – Budget £460, spent £631.07, last month £119.25. Car insurance!
  • Holiday – £150, spent £0, last month £0
  • Personal – £100/ £198.43/ £15. Spent some cash on new clothing, which was saved last month in a Starling ‘space’.
  • Loans/ Credit – £350/ £700/ £407.40
  • Misc – £50/ £14/ £59. Misc payments this month:
    • £14 for student membership

In the garden:

All going great guns now. Early potatoes eaten and feasted upon, maincrop trimmed back. Tomatoes and cucumbers doing well. Courgettes planted out and spreading. Dwarf french and climbing runner beans overwhelming sunflowers. Peas cropping and tasty alongside spinach beat, salad veg and early Chantenay carrots.

Goals for next month:

  • Plan healthy weekly dinners
  • Exercise at least 3x a week
  • Get two more blogposts out (slipping off the bandwagon!)
  • Clear last of credit card debts

What’s in the pipeline: (Life continues to get in the way of blogging)

  • Stoicism and the finance world
  • Should I buy an electric car?
  • Q2 2019 – Green Credentials
  • Property Renovation Lessons Part III
  • Plus the usual Full English Accompaniments and other drivel…

Happy July everyone,

The Shrink

References:

  1. https://www.moneysavingexpert.com/car-insurance/
  2. https://meaningfulmoney.tv/
  3. https://moneytothemasses.com/

The Full English – Sparking joy

What am I blathering on about this week?

We’ve been watching a lot of Marie Kondo on Netflix in our house. If you’ve not seen it, it’s a bit of a weird sell. A tiny japanese woman with a penchant for organising sorts out hoarders houses. Here she is (1):

Now she’s made a profession (and massive cash) out of perfecting tidying up. She’s sold millions of books, and sparked plenty of knock-offs (2). Her key points are fairly simple, and revolve around attacking things in a certain order, with a future goal in mind, and only keeping items which ‘spark joy’ (3). There’s no point having 20 photo albums you never look at. Keep one or two collated versions somewhere you can see them regularly, etc…

This floats pretty close to minimalism for me. It’s an easy to digest, more accessible, less elite version (4). After all, minimalism aims to:

  • Eliminate our discontent
  • Reclaim our time
  • Live in the moment
  • Pursue our passions
  • Discover our missions
  • Experience real freedom
  • Create more, consume less
  • Focus on our health
  • Grow as individuals
  • Contribute beyond ourselves
  • Rid ourselves of excess stuff
  • Discover purpose in our lives (5)

It’s a counter-cultural push against the consumerism of general life (6). And as such it sits well with the FI community, in the general ‘buy less shit’ stakes. I’ve always liked the idea of minimalism. It fits a Manhattan loft/ bourbon and grubby nightclubs life-direction which is never likely to be achieved. I’m just fairly shit at it. I own a lot of stuff. Much of the stuff is fairly tatty. We’ve lived like students for 10 years and many items have been bought as ‘do-fers’; they’ll do for now. 5-10 years on they’re still doing. I’ve been de-cluttering over the last six months, but I’m still left with a sense that a lot of stuff with remain. I will never be minimalist. Marie Kondo tells me it’s okay if my stuff sparks joy. So my garage full of tools which spark joy when I have the right tool for the job is okay. The ‘do-fers’ don’t spark joy, so they’ll be replaced with items which do. Ultimately I think that boils down to an intentionalism approach to items, as we try to be more intentional with the choices we make in our lives. Why fill your life with shit that makes you miserable.

“Wealth consists not in having great possessions, but in having few wants.” -Epictetus

Have a great week,

The Shrink

Other News

Opinion/ blogs:

The kitchen garden:

What I’m reading (affiliate links):

Food Of The Gods: The Search for the Original Tree of Knowledge: A Radical History of Plants, Drugs and Human Evolution – Terence McKenna – An ethnobotanist explores humanitys’ fascination with hallucinogenics, and the role of altered states of consciousness on the development of human society.

 

References:

  1. https://en.wikipedia.org/wiki/Marie_Kondo
  2. https://konmari.com/
  3. https://www.goodhousekeeping.com/home/organizing/a25846191/what-is-the-konmari-method/
  4. https://en.wikipedia.org/wiki/Minimalism
  5. https://www.theminimalists.com/minimalism/
  6. https://www.becomingminimalist.com/what-is-minimalism/
  7. https://www.thisismoney.co.uk/money/cars/article-7140919/Can-modify-car-finance-dangers.html
  8. https://www.theguardian.com/business/2019/jun/26/uk-economy-cliff-edge
  9. https://www.bbc.co.uk/news/business-48820573
  10. https://www.theguardian.com/science/2019/jul/05/bury-bodies-along-uks-motorway-to-ease-burial-crisis-expert-suggests
  11. https://www.bbc.co.uk/news/business-your-money-48776454
  12. https://www.bbc.co.uk/news/business-48776125
  13. https://uk.finance.yahoo.com/news/hargreaves-lansdown-just-removed-nick-085637525.html
  14. https://www.cityam.com/freetrade-to-close-7m-in-second-crowdfunding-round/
  15. https://monevator.com/passive-fund-of-funds-the-rivals/
  16. https://monevator.com/defined-benefit-to-defined-contribution-pension-transfers/
  17. https://monevator.com/the-slow-and-steady-passive-portfolio-update-q2-2019/
  18. https://www.ukvalueinvestor.com/2019/07/selling-vodafone-lessons-learned-from-one-of-my-first-defensive-value-investments.html/
  19. https://www.ukvalueinvestor.com/2019/06/ftse-100-ftse-250-valuations.html/
  20. https://theescapeartist.me/2019/06/25/why-capitalism-is-better-for-your-pet-dog-than-communism/
  21. https://earlyretirementnow.com/2019/06/26/does-a-4-percent-withdrawal-rate-survive-a-60-year-retirement/
  22. https://cashflowcop.com/when-to-buy-a-house-if-you-have-student-loans-debt/
  23. https://tuppennysfireplace.com/how-to-drastically-cut-expenses/
  24. http://diyinvestoruk.blogspot.com/2019/06/aquila-european-renewables-trust-new.html
  25. http://diyinvestoruk.blogspot.com/2019/07/half-year-portfolio-update.html
  26. https://indeedably.com/independence/
  27. https://indeedably.com/indeedably-meta-redux/
  28. https://indeedably.com/inflection-point/
  29. https://firevlondon.com/2019/07/01/doubling-party/
  30. https://firevlondon.com/2019/07/03/june-2019-q2-review/
  31. http://quietlysaving.co.uk/2019/07/07/june-2019-other-updates/
  32. https://ditchthecave.com/30s-and-40s-financial-independence/
  33. http://fiukmoney.co.uk/june-19-net-worth-and-monthly-update-11-514218-9687/
  34. https://thesavingninja.com/twelve-months-later-savings-report-12/
  35. https://www.msziyou.com/true-love-never-smooth/
  36. https://awaytoless.com/monthly-spending-june-2019/
  37. https://gentlemansfamilyfinances.wordpress.com/2019/07/05/cashback-success-saving-30-100-on-car-insurance/
  38. https://gentlemansfamilyfinances.wordpress.com/2019/07/04/wild-strawberries-and-wild-gardens/
  39. https://gentlemansfamilyfinances.wordpress.com/2019/07/01/month-end-accounts-june-2019/
  40. http://eaglesfeartoperch.blogspot.com/2019/07/investment-review-june-2019.html
  41. https://financeyourfire.com/2019/07/02/portfolio-update-june-2019/
  42. https://financeyourfire.com/2019/06/28/adventures-in-cryptospace/
  43. https://www.earlyretirementguy.com/summer-2019-networth-update/
  44. https://www.iretiredyoung.net/single-post/2019/07/05/Early-retirement-costs-targets—June-2019
  45. https://asimplelifewithsam.com/2019/07/02/june-review-and-spending/
  46. https://www.1500days.com/uk-chautauqua-fi-peeps-scarce-sleep-and-lots-of-sheep
  47. https://sharpenyourspades.com/2019/07/07/allotment-jobs-for-july/

 

 

 

 

 

 

 

The Full English – Tech bubble or Tech revolution?

What am I buggering on about this week?

This week we’ve seen Slack join ranks of tech startups on the stock market (1). It’s price surged immediately after listing and remained up, a distinct difference to the Uber IPO in May and the Lyft IPO in March (2). Perhaps due to the state of Uber and Lyft’s respective balance sheets (3, 4). Perhaps due to the methodology of the listing, with Slack following in Spotify’s footsteps in utilising a direct stock listing rather than an IPO. This model means that current investors are allowed to list their stock for sale, but no new stock is offered, and the positive uptake of Slack and Spotify is spurring other companies to consider this model (5, 6).

It’s been a big year for new tech listings, with Pinterest, Zoom, Beyond Meat and Fiverr also coming to the market, and AirBnb, WeWork, Palantir Tech and Peloton all touted to be in the pipeline (7, 8). This is inevitably raising the spectre of the last time we had lots of tech companies listing… the late 90s (9). So what’s to set the current market apart from the dot-com bubble, and what comparisons can we draw (10).

The Similarities

These are fairly obvious:

  • Loss-making tech companies making well over valuation at initial IPO. Promising dot-com companies that make millions going public but never turn a penny profit was a hallmark of the dot-com bubble, and we’ve yet to see Uber or Lyft make money…
  • Linked to the above, 84% of companies going public last year were not turning profits, the highest % since 2000 (11)
  • A market that is (depending on your measure) over-valued (12)
  • Economists are predicting a recession, as they did in fear of the millenium bug
  • Investors are chasing returns through new startups as the traditional markets slow

The Differences

A defining trait of humanity is it’s ability to learn, so you would hope we’ve learnt from the dot-com bubble and won’t repeat the mistakes. Let’s not do a Nathan Barley (a Charlie Brooker masterpiece) (13).

Looking at the recent tech listings there are some differences:

  • The internet is more mature

The internet in the nineties was still a thing of wonder. It’s potential seemed limitless, so valuations naturally followed. It wasn’t yet clear how this could be translated into a money-making machine, and that was a partial cause of the downfall. The internet has matured in the intervening 20 years, and the FAANG stocks in particular have demonstrated how to capitalise on it. They now dominate the market with eye-watering profits. Their growth may be slowing but they’re unlikely to collapse given their hoarded cash reserves (14).

  • Companies funding streams are more complex, but also more transparent and under greater scrutiny

Many of the companies being listed are not the fully VC-backed start-ups of old, selling a fairly unspecific dream. Companies are staying private for longer, with pressure for their finances to be under public scrutiny. Others are utilising P2P/ crowdfunding streams like CrowdCube and Seedrs. You can’t just pitch any old crap with a domain name!

  • Companies are disrupting traditional models (IMO)

Arguable this one, but I think many of the companies that went bust in the dotcom years were basically trying to take a traditional economic model and translate it to an online format with minimal idea on how to gain market presence or be profitable; see Pets.com and eToys.com. Compare this to the current round of stock offerings.

The global tech revolution

Here’s where I see the real difference. Amazon, Netflix, Google etc are massive global players, making profits around the world. They developed their own markets. AirBnB, Spotify, Slack, Uber etc are all doing or have done the same. Their founders have identified a niche or a gap, and placed a product which is a natural fit. Why else would they become so ubiquitous if they were not so obvious. Improvements in the infrastructure of technology has made this possible, and will continue. Starling and Monzo, which I talked about last week, are also disruptive, but banking still has further to go.

We’ve seen wholesale changes in almost all aspects of our lives. There are apps for pretty much everything you do; shopping, leisure activities, work, investments and loans, sleep, music, etc. What hasn’t changed? Banking and central economics. Governments and central banks still set interest rates, still co-ordinate and oversee financial structures and currencies. Which is where Libra, the new cryptocurrency backed by Visa, Mastercard, PayPal, Uber and Facebook comes in (15).

There’s plenty of arguments against Libra (I’m looking at you Ermine), not least security and the prospect of having Facebook digging through your earnings (16). But it’s backed by lots of major players, and could be truly disruptive. Like all blockchain cryptocurrencies it’s decentralised, beholden to no central bank (17). This has got the regulators in a right tizz; if it’s globally decentralised who can/ would regulate it (18). How will government lobbyists get their greasy mitts on it?!?

The clever move that puts Libra over and above Bitcoin and other blockchain cryptocurrencies (beyond it’s big industry support) is asset-backing (19). Backing with physical assets (probably cash/ bonds, but interestingly also could be equities) removes the wild price swings seen with Bitcoin. If it’s globally backed then you suddenly have a currency which tracks global inflation automatically, can be accepted in any country, and allows you to purchase across borders without incurring currency conversion costs. No wonder Mark Carney reckons it could be ‘systematically important’.

We live in the age of a global economy. Corporations are multinational, straddle borders and look to leverage international differences to increase earnings (moving jobs offshore for lower wages for instance). I don’t think central governments/ banks are about to relinquish their stranglehold on economic policy, but Libra offers a window into a future where this might be the case. Where your earnings are paid in a global currency by a global company, wherever you are. Where geoarbitrage becomes the norm, forcing international parity. Where interest rates on your loan are not set based on a baseline from central government, but by global market inflation, or a combination of your credit score and what a credit union of your Facebook contacts are willing to lend. Governments and global banks (Rothschilds etc) have long held a hegemony on money. Now there’s a chink in their armour.

Have a great week,

The Shrink

Other News

Opinion/ blogs:

The kitchen garden:

What I’m reading (affiliate links):

Food Of The Gods: The Search for the Original Tree of Knowledge: A Radical History of Plants, Drugs and Human Evolution – Terence McKenna – An ethnobotanist explores humanitys’ fascination with hallucinogenics, and the role of altered states of consciousness on the development of human society.

References:

  1. https://www.bbc.co.uk/news/business-48707622
  2. https://www.bbc.co.uk/news/business-47741990
  3. https://www.bbc.co.uk/news/business-48451339
  4. https://marketrealist.com/2019/05/why-lyft-stock-has-declined-21-since-its-ipo/
  5. https://www.bloomberg.com/news/articles/2019-06-21/with-slack-sitting-pretty-its-bankers-eye-more-direct-listings
  6. https://markets.businessinsider.com/news/stocks/slacks-direct-listing-bill-gurley-says-startups-call-morgan-stanley-2019-6-1028298641
  7. https://www.marketwatch.com/story/slack-listing-comes-during-banner-year-for-tech-ipos-despite-uber-and-lyfts-troubled-debuts-2019-06-20
  8. https://www.vox.com/recode/2019/6/20/18650993/tech-ipo-tracker-uber-lyft-slack-zoom
  9. https://www.barrons.com/articles/chewy-fiverr-and-crowdstrike-ipos-recall-the-dot-com-bubble-51560553067
  10. https://en.wikipedia.org/wiki/Dot-com_bubble
  11. https://www.vox.com/recode/2019/6/20/18650993/tech-ipo-tracker-uber-lyft-slack-zoom
  12. https://eu.usatoday.com/story/tech/2019/06/17/goldman-sachs-says-technology-stocks-overvalued/1483689001/
  13. https://www.digitalspy.com/tv/tube-talk-gold/a399600/nathan-barley-is-10-looking-back-at-charlie-brookers-debut-tv-series/
  14. https://marketrealist.com/2019/01/the-tech-sector-is-finally-slowing-down/
  15. https://www.forbes.com/sites/panosmourdoukoutas/2019/06/22/libra-could-make-or-break-bitcoin/
  16. https://simplelivingsomerset.wordpress.com/2019/06/18/all-you-cash-belong-to-zuck/
  17. https://www.wired.co.uk/article/facebook-libra-startup-privacy-analysis
  18. https://www.bbc.co.uk/news/technology-48688359
  19. https://www.theguardian.com/business/2019/mar/20/lorraine-kelly-theatrical-artist-tax-tribunal-judge-rules
  20. https://www.theguardian.com/business/2019/jun/19/consumers-being-badly-advised-on-pensions-says-regulator-fca
  21. https://www.cam.ac.uk/employmentdosage
  22. https://www.independent.co.uk/money/spend-save/help-to-buy-house-prices-loans-first-time-buyers-savings-a8958056.html
  23. https://indeedably.com/marriage-of-ultimate-doom/
  24. https://indeedably.com/ownership/
  25. https://simplelivingsomerset.wordpress.com/2019/06/20/playing-with-fire/
  26. https://monevator.com/visualizing-investors-emotions/
  27. https://www.ukvalueinvestor.com/2019/06/royal-mail-dividend-yield-is-13pc-but-i-still-wouldnt-invest.html/
  28. https://cashflowcop.com/best-guide-to-selling-on-ebay/
  29. https://cashflowcop.com/maternity-leave-for-men-tips-for-dads/
  30. http://diyinvestoruk.blogspot.com/2019/06/sipp-drawdown-year-7-update.html
  31. https://firevlondon.com/2019/06/17/ive-paid-for-my-dream-home-in-less-than-4-years/
  32. http://quietlysaving.co.uk/2019/06/20/crowdfunding-road-trip/
  33. https://ditchthecave.com/may-2019-update/
  34. https://thesavingninja.com/what-is-fire/
  35. https://www.msziyou.com/net-worth-updates-april-2019/
  36. https://www.msziyou.com/bros-scared-me/
  37. https://awaytoless.com/a-way-to-less-what/
  38. http://www.thefrugalcottage.com/my-updated-porfolio-june-2019/
  39. https://gentlemansfamilyfinances.wordpress.com/2019/06/19/green-money-greencoat-uk-wind-share-offer-success/
  40. https://gentlemansfamilyfinances.wordpress.com/2019/06/18/hard-lucks-and-let-down/
  41. https://gentlemansfamilyfinances.wordpress.com/2019/06/21/booze-and-babies/
  42. https://www.earlyretirementguy.com/summer-2019-networth-update/
  43. https://www.iretiredyoung.net/single-post/2019/06/21/My-early-retirement-or-midlife-crisis
  44. https://twothirstygardeners.co.uk/2019/06/interview-urban-foraging-whiskey-cocktail-making-john-rensten-bushmills/

The Full English – The Sam Vimes Boots Theory

What am I buggering on about this week?

I’m really enjoying my Starling bank accounts features, so it was good to read an article in The Verge this week about the touted move by Monzo into the US (1). Much of The Verge article is fawning which is unsurprising given the readership overlap between The Verge and the challenger banks. However the US market is ripe for the taking, struggling to even move to chip and pin payments or any sort of account switching service (2). A good time to be invested in one of them.

One of the features I’m really enjoying is the ‘goals’ or ‘spaces’ feature of my Starling account. After keeping my accounts last year I’ve been able to set accurate budgets, and the spaces allows me to put money aside without it ‘appearing’ in my balance. This has meant I can build up money for professional expenses, without having to dip into my credit card. I’m also, for the first time ever, putting money aside each month for clothes and holidays, meaning I don’t try to find the cash as and when I need it to replace holey shoes.

Putting money aside every month for predictable expenses, alongside having an emergency fund, is a cornerstone of good financial stability. The Boots Theory of Socioeconomic Unfairness is a great way of explaining why. If you’ve not heard of the theory, it’s taken from the late great Terry Pratchett’s Men at Arms (3, 4)Captain Samuel Vimes thought process goes that “the reason that the rich were so rich… was because they managed to spend less money”. An example:

“Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.

But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that’d still be keeping his feet dry in ten years’ time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.”

A good theory is often one that is obvious once it’s pointed out. This is one of them. I’ve fallen into this trap so many times. I’ve continued to live like a student, buying cheap clothes when my current threads wear out. I’m now trying to buy better quality (when it’s on sale of course), with the intention things will last longer. The Barbour jacket and flat cap isn’t far away.

Have a great week,

The Shrink

Other News

Opinion/ blogs:

The kitchen garden:

What I’m reading (affiliate links):

Food Of The Gods: The Search for the Original Tree of Knowledge: A Radical History of Plants, Drugs and Human Evolution – Terence McKenna – An ethnobotanist explores humanitys’ fascination with hallucinogenics, and the role of altered states of consciousness on the development of human society.

References:

  1. https://www.theverge.com/2019/6/13/18663036/monzo-starling-mobile-banks-uk-report
  2. https://www.cnet.com/news/apple-card-beware-monzo-is-bringing-its-bank-of-the-future-to-the-us/
  3. https://en.wikipedia.org/wiki/Sam_Vimes
  4. https://moneywise.com/a/boots-theory-of-socioeconomic-unfairness
  5. https://citywire.co.uk/investment-trust-insider/news/what-is-board-of-flagship-woodford-patient-capital-doing/a1237314
  6. https://www.thisismoney.co.uk/money/markets/article-7121795/Backlash-hits-UKs-largest-investment-platform-Hargreaves-Lansdown-investors-flee.html
  7. https://www.thisismoney.co.uk/money/mortgageshome/article-7124605/Majority-UK-homeowners-expect-house-prices-grow-despite-property-market-slowdown.html
  8. https://www.timeout.com/london/news/this-new-website-will-help-you-find-your-nearest-zero-waste-shop-and-save-the-planet-060619
  9. https://www.theguardian.com/business/2019/jun/12/worlds-biggest-sovereign-wealth-fund-to-ditch-fossil-fuels
  10. https://www.bbc.co.uk/news/business-47643456
  11. https://www.theguardian.com/environment/2019/jun/13/mild-but-windy-winter-was-greenest-ever-for-uk-energy-use
  12. https://www.independent.co.uk/news/world/americas/climate-change-breakdown-arctic-frost-thawing-canada-environment-a8959056.html
  13. https://www.dailymail.co.uk/news/article-7139695/British-pensioners-run-money-10-YEARS-die-senior-economists-warn.html
  14. https://www.evidenceinvestor.com/neil-woodford-a-lesson-in-humility/
  15. http://aswathdamodaran.blogspot.com/2019/06/teslas-travails-curfew-for-corporate.html
  16. https://monevator.com/trust-life-assurance/
  17. https://theescapeartist.me/2019/06/12/whos-the-bitch-in-this-relationship/
  18. http://www.retirementinvestingtoday.com/2019/06/back-to-powerful-fi.html
  19. https://earlyretirementnow.com/2019/06/12/my-thoughts-on-small-cap-and-value-stocks/
  20. https://youngfiguy.com/mrs-yfg-what-i-wish-i-knew/
  21. https://cashflowcop.com/introvert-make-extra-money-working-from-home/
  22. http://quietlysaving.co.uk/2019/06/14/half-a-century/
  23. http://thefirestarter.co.uk/perfection-is-the-enemy-of-happiness/
  24. https://ditchthecave.com/unpopular-opinions/
  25. https://drfire.co.uk/unpopular-opinion/
  26. https://indeedably.com/against-the-tide/
  27. https://awaytoless.com/thought-experiment-6-miss-way/
  28. https://asimplelifewithsam.com/2019/06/14/saving-ninja-thought-experiment-6/
  29. https://thesavingninja.com/unpopular-opinion/
  30. https://www.msziyou.com/dating-and-fi/
  31. https://pursuefire.com/monthly-net-worth-report-12-may/
  32. https://www.iretiredyoung.net/single-post/2019/06/14/Early-Retirement—our-net-worth-investing-journey-1
  33. https://www.jackwallington.com/allotment-month-43-priorities-supports-and-progress/
  34. https://agentsoffield.com/2019/06/09/i-love-big-butts/

The Full English – Student Loans Review

What am I buggering on about this week?

Lately I’ve been watching lots of finance videos/ podcasts. One of my guilty pleasures is The Dave Ramsey Show. If you haven’t seen it, it’s a highly successful call-in show based in the US, where Dave dishes out financial and often plain common-sense advice, which is syndicated and streamed on YouTube. It’s also sometimes akin to Jeremy Kyle, and I watch with morbid curiosity. Dave, being in the US, takes a fairly aggressive approach towards student loans as part of a drive to get rid of debt (1, 2):

But here across the pond we have a very different student loans structure. I did have to take a loan for my education, but luckily it was Plan 1. The current interest rate (1.75%) is less than the RPI. In practical terms my debt is reducing in value even if I don’t pay it off. I also had a maintenance grant with no expectation of repayment. These have since been scrapped. The student loans system in the UK functions more like a graduate tax. You only pay once you earn over a certain threshold (dependent on your plan), and then you pay a nine percent of those earnings. There’s lots of useful resources to guide you on this, including the government website (3, 4, 5). Another podcast I’m enjoying, Meaningful Money, explains it really well (6):

I’m very thankful I’m not on Plan 2, the current scheme. It’s significantly more painful than my scheme. The interest rates are significantly higher (3):

Student Loan rates

Six bloody percent! And because of the structure of it you only pay 9% of your earnings over the threshold, so your actual repayments are fractional. It just sits there, accruing until you reach the 30-year post-graduating threshold when it gets wiped. The only people who stand a chance of clearing it are the higher earners (>£50k), but if you’re just over that mark it will act as a continuous drain on your monthly takehome pay.

Now cleverer bods than I have clocked the coming hole in government funds. Hence the recently commissioned government review. It reported last week, and the findings have prompted much discussion (7, 8). They include such progressive ideas as reducing the maximum from £9,250 to £7,500, and reintroducing means-tested grants. They counteract this by bringing the repayment threshold down, and extending out the cancellation deadline to 40 years. The net result is that the highest earners will still pay more than the rest but less than under the current system. Middle earners will pay more, and more will pay off in full. Lowest earners are better off (9, 10).

Lifetime student loan

The whole system seems ponderous, and designed to confuse. The treasury would be happier with the proposed scheme (one suspects), as more people will pay it off in full. Ultimately these are all by-products of the attempt to commercialise higher education under the guise of widening access and equal opportunities. Beware of greeks bearing gifts.

Have a great week,

The Shrink

Other News

Opinion/ blogs:

The kitchen garden:

What I’m reading (affiliate links):

Food Of The Gods: The Search for the Original Tree of Knowledge: A Radical History of Plants, Drugs and Human Evolution – Terence McKenna – An ethnobotanist explores humanitys’ fascination with hallucinogenics, and the role of altered states of consciousness on the development of human society.

References:

  1. https://www.daveramsey.com/blog/how-to-pay-off-student-loans-quickly
  2. https://youtu.be/CodCjMrYB1Y
  3. https://www.gov.uk/repaying-your-student-loan/what-you-pay
  4. https://www.moneyadviceservice.org.uk/en/articles/repaying-student-loans
  5. https://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes/
  6. https://youtu.be/08NVnDG7UlY
  7. https://www.bbc.co.uk/news/education-48451474
  8. https://inews.co.uk/news/education/slash-tuition-fees-and-student-loans-interest-government-review-to-recommend/
  9. https://www.bbc.co.uk/news/education-48459910
  10. https://www.thetimes.co.uk/article/cut-university-tuition-fees-to-7-500-and-slash-interest-on-student-loans-review-n8lbkhz3s
  11. https://www.thetimes.co.uk/article/newcomer-vanguard-knocks-hargreaves-off-the-top-spot-g08jx50w9
  12. https://www.telegraph.co.uk/investing/funds/blackrock-launches-rival-vanguard-lifestrategy-funds-should/
  13. https://www.bbc.co.uk/news/business-48433692
  14. https://www.theguardian.com/environment/2019/may/30/renewable-energy-jobs-in-uk-plunge-by-a-third
  15. https://www.theguardian.com/money/2019/may/31/uk-house-prices-slump-as-confidence-remains-subdued-says-survey
  16. https://www.thisismoney.co.uk/money/mortgageshome/article-7090137/UK-house-price-growth-falls-0-2-consumer-confidence-remains-subdued.html
  17. https://www.theguardian.com/money/2019/jun/03/neil-woodford-blocks-investors-from-pulling-cash-from-flagship-fund
  18. https://www.msn.com/en-gb/news/world/no-way-to-stop-it-millions-of-pigs-culled-across-asia-as-swine-fever-spreads/ar-AACtx3M?ocid=spartanntp
  19. https://www.bbc.co.uk/news/business-48553193
  20. https://www.thisismoney.co.uk/money/investing/article-7102797/Casual-investors-blocked-investing-10-P2P-firms.html
  21. https://www.wired.co.uk/article/uk-coal-power-energy-renewables-new-record
  22. https://www.independent.co.uk/news/uk/home-news/trump-uk-visit-penis-stansted-airport-protest-climate-change-real-essex-a8941271.html
  23. https://www.theguardian.com/business/nils-pratley-on-finance/2019/jun/06/nicky-morgan-must-ask-questions-of-regulator-after-neil-woodford-saga
  24. https://citywire.co.uk/funds-insider/news/david-stevenson-beware-the-risk-of-uk-stock-market-bias/a1232783
  25. https://monevator.com/life-expectancy-for-couples/
  26. https://monevator.com/blackrock-mymap-fund-of-funds/
  27. https://monevator.com/index-funds-versus-superstar-investors/
  28. https://www.ukvalueinvestor.com/2019/06/sainsburys-discounted-share-price.html/
  29. https://theescapeartist.me/2019/06/05/the-inestimable-advantages-of-paying-yourself-first/
  30. http://www.retirementinvestingtoday.com/2019/06/back-to-powerful-fi.html
  31. https://cashflowcop.com/should-i-charge-my-child-rent-the-pros-and-cons/
  32. https://cashflowcop.com/the-morning-brew-vs-finimize-financial-news-summarised-for-busy-people/
  33. http://earlyretirementextreme.com/the-danger-of-lifestyle-consumption.html
  34. http://diyinvestoruk.blogspot.com/2019/06/tr-property-final-results.html
  35. http://diyinvestoruk.blogspot.com/2019/05/capital-gearing-final-results.html
  36. http://quietlysaving.co.uk/2019/06/07/investing-mistakes/
  37. http://quietlysaving.co.uk/2019/06/01/may-2019-other-updates/
  38. http://thefirestarter.co.uk/caravan-psychology-and-economics-101/
  39. https://ditchthecave.com/break-the-routine/
  40. https://drfire.co.uk/may-2019-report/
  41. http://fiukmoney.co.uk/may-19-net-worth-and-monthly-update-10-504531-69688/
  42. https://thesavingninja.com/im-now-a-property-investor-savings-report-11/
  43. https://littlemissfire.com/the-importance-of-side-hustle-diversification/
  44. https://awaytoless.com/monthly-spending-may-2019/
  45. https://gentlemansfamilyfinances.wordpress.com/2019/05/31/month-end-accounts-may-2019/
  46. https://gentlemansfamilyfinances.wordpress.com/2019/06/06/whats-woodford-good-for/
  47. https://gentlemansfamilyfinances.wordpress.com/2019/06/05/waspi-hypocrisy/
  48. https://gentlemansfamilyfinances.wordpress.com/2019/06/07/green-money-greencoat-uk-wind-share-offer-update/
  49. https://financeyourfire.com/2019/06/04/portfolio-update-may-2019/
  50. https://pursuefire.com/monthly-each-way-betting-report-11-may/
  51. https://obviousinvestor.com/p2p-lending-portfolio-update-for-may-2019/
  52. https://www.iretiredyoung.net/single-post/2019/06/01/Early-Retirement-Couple—Part-2
  53. https://www.iretiredyoung.net/single-post/2019/06/07/Early-retirement-costs-targets—May-2019
  54. https://asimplelifewithsam.com/2019/06/07/may-spending/
  55. https://simplelivingsomerset.wordpress.com/2019/06/03/an-engineering-cameo-at-the-royal-bath-west-show/
  56. https://indeedably.com/gone-awry/
  57. https://indeedably.com/midlife-crisis/
  58. https://lovelygreens.com/when-to-harvest-potatoes/
  59. https://twothirstygardeners.co.uk/2019/05/wild-bees-natural-hive-attract-allotment-gardeners/
  60. https://twothirstygardeners.co.uk/2019/05/wormwood-making-vermouth-vermut-el-bandarra/
  61. https://agentsoffield.com/2019/05/26/first-harvest/

The Financial Dashboard – May 2019

The goals for May were:

  • Sell £100 worth of stuff
  • Finish my portfolio spreadsheet
  • Get two extra blog posts out
  • Re-mortgage
  • Set up new bank accounts

Checking the assets and liabilities:

May AssetsMay Liabilities

These are taken, as always, from my Beast Budget spreadsheet. This month my net worth fell by 1.41%. A number of reasons for this: we re-mortgaged which included a fee, I moved the date I pay into our joint account resulting in less actually in my accounts, the markets dipped a bit, and I had a number of work courses which all required payment at once.  We finally paid off our loan to our family member for the wedding, and I’ve started setting up new accounts to squirrel emergency savings into.

Goals:

Goal achieved: Sell £100 worth of stuff

Finally got rid of a big ticket item that’s been taking up garage space, along with some smaller stuff. Actually smashed this goal, making £250 into the joint account. For now this goal will be on hold while I send more stuff to charity shops.

Goal failed: Finish my portfolio spreadsheet

So I tried the Rebo app developed by Andy at Liberate Life, but found it too simplistic for what I wanted (1, 2). I’m working on another hybrid google sheet which I’ll probably start debuting for next months end of Quarter review.

Goal achieved: Get two extra blog posts out

This was to get me back into the swing of posting regularly. There’s some fairly long posts which have been taking me a while to draft, hopefully these will be out soon.

Goal achieved: Re-mortgage

We’re in a slightly difficult situation, in that we have a split pot mortgage as a result of our various house moves. The larger of the two mortgages came to the end of it’s 5-year 4.29% fix last month; a reminder of days when we only had a 10% deposit and where the economy and house prices were looking strong with all the talk of rising interest rates. Hindsight is 20-20. We umm-ed and ahh-ed about what to do. Given our intention is to sync up the two pots within the next five years here’s our thinking:

  1. A tracker rate appealed for similar reasons as set out by 3652days last year (3). Namely:
    • If we assume a no deal brexit there will likely be a recession. BoE unlikely to raise rates. Tracker wins.
    • If we continue to have delays to Article 50 then the knock on economic uncertainty is likely to keep a dampener on inflation/ economy. BoE unlikely to raise rates. Tracker wins.
    • If parliament passes Mrs Mays deal (unlikely) then whilst the pound and economy may rise from their current torpor, it’s unlikely this will be within the two year tracker period. It will take time for things to gear up again. Tracker – not much difference.
    • Depending on the new leader of the conservatives and de facto PM, we can theorise potential outcomes – either they’re a hardline no-deal leader, in which case they’d probably try to push a no-deal brexit by waiting the damn timer out (and therefore see bullet point one)… Or they try to unify the party with the promise of a new deal in compromise with labour. Such a deal will likely struggle to get through parliament, because it’s unlikely to resolve the Irish border or pacify the wings of either party. Both strategies will push towards a general election, which the bookies now reckon is more likely in 2019 than not (4).
    • If we assume no brexit, either through a further referendum or a complete “betrayal” by the conservatives or a new government, then the economy may bounce back.  Routes to this would be either a general election and coalition Lib/Lab/Green Gov, or (due to our first past the post system) a Conservative majority led by a moderate trying to appease the centre. This will again take time. The economy’s not going to be able to come straight out of the blocks flat out whilst still wading through the political fallout of such a decision. Tracker – not much difference to fix.
  2. The tracker rates available to us were ~4-5% within the same bank we currently use. Rates available at other banks were ~1.55%.
  3. Fixed rates available to us were ~1.6% for 2 years, up to around 2% for a five year. Fixed rate pros and cons:
    • If we go for a longer rate fix we might as well change bank for the lowest rate possible. A long fix nullifies the tracker arguments to an extent due to timescale. Pros – financial stability and predictability. Cons – lack of flexibility and difficulty consolidating mortgage pots resulting in logistical and cost  implications.
    • If we fix for a shorter rate we can stay with the current bank. Pros – consolidating mortgage pots next year, cheaper rate vs long fix, flexibility. Cons – risk of interest rate rises in the next two years.
  4. Inflation is currently 2.1%, close to the BoE target of 2.0%. Whilst this remains that way they’re unlikely to change the base rate. The current outlook is mixed and largely Brexit dependent, but the BoE is predicting a base rate of 1.25% by 2022, with the next move late this year or early in 2020 (5, 6).

Our decision was somewhat reactionary and behavioural. We were burnt by our lack of flexibility in the past. Our current home is not our dream home, and we intend to move in the next five years. We favoured the flexibility of a short fix or tracker. The tracker rates at our current bank were not competitive. If we moved banks we could split the pot across banks, but this would likely make consolidating the mortgage next year (when the smaller pot’s fixed rate ends) more challenging. The short fixed rate at our current bank was close enough to tracker rates as to make no odds. We’ve therefore fixed for two years, gambling that rates will only rise by ~1% in the interim, dependent on Brexit outcomes. Both pots average ~1.65%, meaning our mortgage rate is less than RPI inflation.

The kicker here is that the drop in our interest rate actually meant that we could reduce our term whilst keeping repayments the same. It now sits at a nice 20 years, with the continued option of a 10% overpayment. We calculated either of us can pay the mortgage on our own independently, and we could tolerate up to a 15% interest rate (which would be seriously dire days) (7). It’ll be interesting looking back on this in the future, did we make the right gamble?

Goal achieved: Set up new bank accounts

Our 5% Santander regular saver matured this month, and Santander have reduced the interest rate to 3%. Santander have also changed the terms on their 1-2-3 account, which we’ve been using for our joint account. I’m therefore in the process of moving us over to First Direct for their £100 switching bonus and linked 5% regular saver (8). I’ve also opened a Nationwide Flex account to benefit from their 5% interest rate on balances up to £2500 for the first year (9). In the next few months I’ll add a Marcus account to this mix for my emergency fund over £2.5k.

Budgets

  • Groceries – Budget £300, spent £264.72, last month £184.25. We hosted a lot this month, so spent more than usual but well within budget. I’ll likely decrease my self-imposed budget limit soon.
  • Entertainment – Budget £150, spent £139.47, last month £99.38
  • Transport – Budget £460, spent £119.25, last month £851.53. Back on track.
  • Holiday – £150, spent £0, last month £0
  • Personal – £100/ £15/ £41.88
  • Loans/ Credit – £350/ £407.40/ £88.97
  • Misc – £50/ £59/ £121.92. Misc payments this month:
    • £25 on a sewing machine
    • £25 on a carpet cleaner
    • £9 on gardening gear

In the garden:

Things are getting wild, overgrown and many an evening is spent weeding. Our salad crops are providing plenty of dinners, and the first of the spring onions and early potatoes are nearly ready.

Goals for next month:

  • Finish my portfolio spreadsheet
  • Compare current insurance rates
  • Look into further financial planning: wills and income protection
  • Plan healthy weekly dinners
  • Exercise at least 3x a week

What’s in the pipeline: (Life continues to get in the way of blogging)

  • Stoicism and the finance world
  • Should I buy an electric car?
  • Q2 2019 – Green Credentials
  • Property Renovation Lessons Part III
  • Plus the usual Full English Accompaniments and other drivel…

Happy June everyone,

The Shrink

References:

  1. https://reboapp.co.uk/
  2. http://liberate.life/index.php/2019/05/01/track-portfolio-rebo/
  3. https://3652daysblog.wordpress.com/2019/01/11/its-a-tracker/
  4. https://www.theweek.co.uk/93763/will-there-be-a-general-election-in-2019
  5. https://www.which.co.uk/news/2019/05/what-will-brexit-mean-for-interest-rates/
  6. https://moneytothemasses.com/owning-a-home/interest-rate-forecasts/latest-interest-rate-predictions-when-will-rates-rise
  7. https://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator/
  8. https://www.bankaccountsavings.co.uk/
  9. https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#bonus