Category Archives: personal budget

Very often we spend above our means and don’t realize where our hard earned money goes. It takes self observation and a structured budget to achieve better financial stability. Budgeting and debt management are like a muscle which needs a good training, and better it be done with a well experienced trainer at the beginning.

01 Jul

Half a year – gone. Summer mood but yet we need to report :)

We marked the first 6 months of 2019, and we kick into the second half of the year. Unlike the beginning of the first 6, now summer is in full swing, so planning for work, achievements and budgeting takes wayyy more effort. 
Having in mind the location where I live – Malta, the island spirit of beaches barbeques and boats, even if you don’t have a boat, the whole laid back feeling rubs on you.

Here are my purely summer goals:

  • I have set a summer goal to get tanned this year – which will happen for the first time in the 6 years I live here – working on that ūüôā
  • Also, I decided to work out more as I found the joke “how to have a beach body 1. You have a body, 2. You go to the beach” too amusing. Which means TLC is needed.
  • I also decided that I fancy having a keto diet, which means bbq as many times as possible – my ancestors will be proud with me :))) 

Hedonistic goals aside, what’s cooking in the financial kitchen of the girl on a journey?

Investment portfolio

With regards to investing I must say that things are steady with the p2p lending platforms. Iuvo group, Envestio and Mintos continued a stable high yield (according to the size of the investment, of course). I have noticed that Envestio has not published any new projects, but I wasn’t going to invest anyway, so for me, it is good enough that the very small amount I have invested there has a stable return.¬† Klear is one of the platforms which is with a conservative yield of 7,5% comparing to other p2p(more than their own prognosis), but they are very selective with their customers. Very rarely there is a credit line with more than two instalments delay. In that respect, I would say a very stable platform where my money feels safe.¬†

A bit of a disappointment with Housers. I invested in a project in April, and it did not collect enough funds, they decided that they will have two more cycles of 20 days of investing, which left my money hanging without generating anything. No breach of rules here, but unlike Envestio who don’t offer any opportunities, they watered down with a bit too many opportunities at the same time. Which led to the slow financing of some.
All my development loans are doing well there. Yet to experience a buy-to-sell profit from the platform, rentals are steady. 

I sold my shares of the only investment which didn’t generate any rental – my very first investment, which I got on the secondary market. When buying from the secondary market, there is no fixed rent. Growth mistakes… 

This month I made a very exotic investment, which will not generate any income in the near future but will increase value with time – I invested in art. An artist I follow since a few years and I think that her paintings beside gorgeous, will increase in value. For now, I will get the pleasure to enjoy the painting.

Debt situation

I have hoped to be able to retire my car debt by my birthday – on the 14th of August. I got a side hustle for that purpose and also some small online gigs. It seems I will get pretty close to that but I have not calculated that some payments come in when reaching a threshold and after a certain period of time. So my small passive income flows will be of help but I doubt all will happen on time for my birthday. Having said that – I will be really close and by October that will be crossed off for sure. 

October is the month I plan to reach my yearly goal for the investment portfolio as well.

Job and entrepreneurship

Despite being in a pickle for having fewer hours than I am used to at my day job, I am open to seeing new opportunities for working online. I am currently testing low content niches on Amazon kdp, alongside with the book I published for Cimen Runar (adult content). 

I am lucky to have graphic design skills which I keep up my sleeve, and created some very good manga/ comic layouts and some tarot card diaries. For my content, I chose the pen name Mimi Seva. 
Also working on a prompt self-development workbook, which has to be published by – yep my birthday :)))

We have a running joke with a friend of mine about the parking lot (not trying to steal it from him, as it has its place in the second book of the trilogy) – let’s say I quote him.

If there are too many free parking spaces on a parking lot, you suddenly have a problem – you can not choose where to park. 

I have a similar problem – with regards to choosing an online occupation which has immediate remuneration, all is fantastic with my current projects, but they take time and patience. And when you are on a debt repayment journey, patience is not high on the priority list. I am well aware that you don’t eat the fruits when you plant the seed, but you better have some fruit-bearing plants in hand.

Happy second part of the year!

Read about my Iuvo-group experience here
And about my Housers experience here
About my Klear experience here
And you can check my whole portfolio here

24 Jun

What is your money dial -second part

Last week I wrote about money dials and what importance they play in our spending.

It is a concept developed by Ramit Sethi. He has worked with many people on analyzing their money dial and how to stop spending unnecessarily on expenses which don’t bring much value and joy to our life.

I continued pondering on the topic of what my money dials are and do I hold grudges towards myself for some of them. I think I was not completely honest with my judgement of my money dials. It is ok, as long as I admit it and stop blaming myself for decisions made in that respect.

One category I didn’t mention is luxury – whether it is things for the home, myself or my loved ones. There we go – I admit it – I like luxury.

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16 Jun

Champagne taste on a beer budget?

What is your money dial?

Very often I thought of myself as a person who has “Champagne taste on a beer budget”. And to a certain extent I do believe that it is true. I am from the people who like new gadgets- robot vacuum cleaner with a set timer, the best cooling fans, best kitchenware and houseware. I also spent more than 400 on a steamer to clean my home in a eco friendly manner – that is luxury, believe me.

Those purchases for sure classify in splurge category when it comes to budgeting on a low budget. Do I need to cut off such purchases altogether, in order to achieve my financial goals? 

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02 Jun

Monthly Report for May 2019

As every month I try to summarize what went according to plan, what was achieved, moments of celebration, and moments of the hall of shame.

As a starter this is a month to be grateful. It is advisable to practice gratitude at any time, but when the universe in the form of friends, family and colleagues (and even the tax department) manifests a lot of your desires, that puts an extra bright smile on your face.

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12 Jan

5 things to do despite feeling immortal

1. Life insurance according to your situation.

I sorted my automatic savings and my long term saving and felt very proud of myself. Felt on right track with my life. And right around Christmas, when life gets hopeful, recharging, our spirits are high, I got very sad news that a very young, juvenile relative of mine passed away. The news were shocking and at the same time got me thinking about life and how we should be prepared for the worst. The morbidity of the topic got reinforced by a video on YouTube about “how much your funeral would cost if you die”.

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