We’re over half way through the year – the business end of the season as anyone prone to a football cliché might say! And, I’m very pleased to say, that the group who are still participating in the challenge are marching on to glory… Ok, that’ll do… 

 

What did I get up to in July?

Following our honeymoon in Corsica, we decided that we hadn’t quite seen enough of France for one year, and the lure of “le Mondial” – an open entry world championship of pétanque – was too much to refuse. So, we made our way back to beautiful Marseille, caught up with a lot of our friends we made whilst living there, and promptly got knocked out in the 1st round of the pétanque tournament (just like last year):

We also got ourselves over to Kendal for the 10th annual “Kendal Calling” festival, where we saw the likes of Elbow, Embrace, The Vaccines and even Snoop Dogg made, what I’m pretty sure has to be, his inaugral appearance in Cumbria! Good stuff…

So, with one holiday (partially budgeted for) and related festival expenses, my month was fairly static for July.

 

 

July Net Worth Goal Pro-Rata (Total) = 17.5% (30%)
July Net Worth Result = 23.9%

July Savings Rate Goal = 35%
July Savings Rate Result = 32%

 

Starting with my net worth, I managed a very slight increase in the month. The UK and US markets went up in June (FTSE 100 +2.7% ; S&P 500 +2.0%), but then I personally didn’t match that due to the poorer performance in my exposure to EU and Asian markets which struggled in the month. This was particularly noticeable in the Chinese markets when the Shanghai Composite Index (equivalent of FTSE 100 or S&P 500) was down 14.3% in the month.

However, this volatility is normal. June had a 7.2% decrease in this index as well, but the SHCOMP is still up 15% or so for 2015 to date.

It’s good to have international diversification, in my opinion, but this volatility is a good reason why I only have a smallish percentage invested in these kind of markets.

Related Article: Global Stock Market Returns (Moneystepper) 

 

My savings rate dropped again in July – now below the target – but this is still expected and will bump up again when Moneystepper dividends are distributed.

Therefore, at the end of July, I’m now 37% ahead of my net worth goal and 9% behind of my savings rate goal.

 

So, how did you get on…

 

 

Moneystepper Savings Challenge July Results Summary

In July, we noted the following:

• Net Worth result ABOVE goal and Savings Rate result ABOVE goal => 5 people
• Net Worth result ABOVE goal and Savings Rate result BELOW goal => 6 people
• Net Worth result BELOW goal and Savings Rate result ABOVE goal => 2 people
• Net Worth result BELOW goal and Savings Rate result BELOW goal => 4 people
• Not submitted => 18 people

Overall, the average (mean) for everyone who submitted their results in July was:

Net worth improvement: 28.0% (June: 19.8%)
Savings rate: 49.9% (May: 48.9%) 

I’m going to move over the disappointing number of non-submissions, and focus on something that I feel demonstrates the true power of the Moneystepper Savings Challenge.

Below is a graph which shows the average net worth gain for every month to date for all submitted entrants:

In EVERY SINGLE MONTH, the graph goes up. This is what we are all about. On average, the challenge is working and I’m chuffed to see that in graph form! 🙂

 

So, as a whole, keep going everyone – you are doing incredibly well. However, like every month, now it’s time to get personal…

 

Moneystepper Savings Challenge July Results Detail

Below you will find the results for each group with a very brief comment by myself. If you are not happy with the comments, please send me an email and I can change/delete then… PS – when you make your submissions, the comments you add really help and they are getting better every month. Hopefully, you are finding some value from our personal exchanges resulting from your comments, so please carry on adding them!!

 

GROUP A

Name	Website	Net Worth Goal (Pro Rata)	Net Worth July Result	Net Worth YTD Comparison	Savings Rate Goal	Savings Rate July Result	Savings Rate YTD Comparison
Choncé	My Debt Epiphany	23.3	NS	NS	40	NS	NS
C	The Single Dollar	87.5	87.4	-0%	50	48	-4%
Vanessa		175.0	NS	NS	50	NS	NS
Ryan	Debt Free Hustle	58.3	NS	NS	10	NS	NS

C – After reaching the 50% savings rate goal in June, C has fallen back slightly below in July. However, this is less of a big deal when you see that she’s increased her net worth by 87.4% so far in the year! What incredible progress; keeg it up C!

Choncé, Vanessa and Ryan haven’t yet submitted their goals for June.  

 

GROUP B

Name	Website	Net Worth Goal (Pro Rata)	Net Worth July Result	Net Worth YTD Comparison	Savings Rate Goal	Savings Rate July Result	Savings Rate YTD Comparison
Nigel W		7.0	NS	NS	40	NS	NS
Jeany B		8.8	13.3	+74%	35	29	-17%
Dan T		3.5	NS	NS	10	NS	NS
Michael Smith		5.8	8.5	+49%	60	64	+7%

Jeany B – A nice bump in the savings rate this month (which Jeany put towards her mortgage) takes her much closer to that annual savings rate goal. A very small increase in net worth from her position in June is not at all a concern given the nice lead she already has against her net worth goal.

Michael Smith – All positive for Michael. A nice bump in net worth and consistent money management means that his net worth and savings rate both stay a healthy margin above the goal. Nice job Michael!

Dan T hasn’t yet submitted his results for July. Nigel W is on holiday and will submit later in the month. 

 

GROUP C

Name	Website	Net Worth Goal (Pro Rata)	Net Worth July Result	Net Worth YTD Comparison	Savings Rate Goal	Savings Rate July Result	Savings Rate YTD Comparison
Cath Dyson		5.8	13.2	+126%	56	57	+2%
Dan Clift		3.9	n/a	n/a	44	n/a	n/a
Kylie	DIY to Property Investor	5.8	-0.6	-110%	60	54	-10%

Cath Dyson – A great bump in net worth for Cath in the month, due to updating her pension account and also a revaluation of her residential property. However, it’s important to note that her savings rate is still above her target so it’s clear that she’s also got her month-to-month in order as well. Good stuff Cath!

Kylie – Kylie’s still not in full time employment, but she is learning some new skills and possibly looking for new ways to earn additional income or change her regular income streams. A few months later in the year with higher income should help her get back on track with her original goals. Keep on pushing Kylie! 🙂

Dan Clift hasn’t yet submitted his results for July.

 

 

GROUP D

Name	Website	Net Worth Goal (Pro Rata)	Net Worth July Result	Net Worth YTD Comparison	Savings Rate Goal	Savings Rate July Result	Savings Rate YTD Comparison
Vawt	Early Retirement Ahead	22.2	24.4	+10%	67	69	+2%
Mr. Captain Cash	Mr. Captain Cash	20.4	24.5	+20%	80	70	-13%
Mrs. Maroon	Mixing Maroons	14.6	NS	NS	55	NS	NS
Tim Whateley		5.8	NS	NS	42	NS	NS

Vawt – Between Vawt and Mr CC, group D is the group to try to emulate when it comes to savings rate. Not a great month in the markets for Vawt, but continued savings and paying down of debt ensures that he stays generally in line with, and slightly ahead of, his goals.

Mr Captain Cash – Some one-off car repairs, insurance bills and house renovations have dropped Mr CC’s savings rate against his goal, but he continues to record a very impressive 70% savings rate and a performance in his net worth which exceeds his goals. 

Mrs Maroon & Tim Whateley haven’t yet submitted their results for July. 

 

 

GROUP E

Name	Website	Net Worth Goal (Pro Rata)	Net Worth July Result	Net Worth YTD Comparison	Savings Rate Goal	Savings Rate July Result	Savings Rate YTD Comparison
Dominic	Gen Y Finance Guy	29.2	28.3	-3%	50	37	-26%
Alison Sturley		5.8	NS	NS	44	NS	NS
Tom		11.7	13.6	+16%	45	47	+4%
Graham Clark		17.5	23.9	+37%	35	32	-9%

Dominic – Dominic did not submit any comments with his results, so I can’t determine why he’s falling behind in his savings rate, but importantly Dominic is maintaining his net worth growth generally in line with his goal.

Tom – Tom is workind hard, and it is paying off!! He’s trimmed his budget right down, making sure that non-essentials are minimised, ensuring that he can book a YTD savings rate of 47%. It’s not easy Tom, but have a look at the August challenge, and see if you can get that up to the 50% mark – it’s a huge and amazing milestone to hit! He’s also working a lot of overtime, and with a combination of these, it’s inevitable that Tom’s net worth increase is also above his goal for the year. 

Graham – See above. 

Alison hasn’t yet submitted her results for July. 

 

 

GROUP F

Name	Website	Net Worth Goal (Pro Rata)	Net Worth July Result	Net Worth YTD Comparison	Savings Rate Goal	Savings Rate July Result	Savings Rate YTD Comparison
Pete Matthew	Meaningful Money	58.3	82.7	+42%	23	21	-9%
Matt Sommer	Humble Broker	29.2	25	-14%	25	20	-20%
Elle Martinez	Couple Money	17.5	24.4	+39%	20	22	+10%
AJ		8.8	NS	NS	35	NS	NS

Pete – Pete is slightly behind his savings rate goal, but he actually improved this month-on-month from June and he is only behind because he pushed his savings rate goal up from the 20% which he was achieving to a more aspirational 21%. That’s my kind of goal Pete! An annual net worth increase of 82.7% is impressive against any goal, but incredibly impressive when we look back and see that Pete’s original goal was only 15% for the entire year! Keep it up Pete – you’re an inspiration.

Matt Sommer – Matt’s slightly behind on both goals as it stands. However, in his comments he stated that he thinks that he can get his savings rate up to 25%, and that he’s happy with his net worth. Good news on the savings rate Matt, but I’m going to challenge you (at least for another couple of months) to stick with (and strive towards) that same net worth goal. I think you can do it, man!

Elle Martinez – Elle saw a nice big jump in her net worth in July (up from 18% in June) and keeps her savings rate above the goal. That’s the way to do it Elle!   

AJ hasn’t yet submitted her results for July

 

GROUP G

Name	Website	Net Worth Goal (Pro Rata)	Net Worth July Result	Net Worth YTD Comparison	Savings Rate Goal	Savings Rate July Result	Savings Rate YTD Comparison
Mariane		17.5	NS	NS	40	0	NS
Weenie	Quietly Saving	14.6	23	+58%	50	50	+0%
Nicola		8.8	NS	NS	48	NS	NS
Lynx	Location FI	20.4	21.8	+6%	60	71	+18%

Weenie – A house revaluation has increased Weenie’s net worth to well ahead of her goal. However, again, we can see that her monthly progress is also very strong with a 50% savings rate (in line with expectation).

Lynx – Lynx has been nicely building up her net worth and has noted a very impressive savings rate so far this year for 71%. This has allowed her to build enough cash reserves that next month she’ll be paying down on some outstanding debt. That won’t change the net worth immediately, but should lead to an even better performance in future savings rates in the future, with the inevitable knock on effect on the net worth in the long term. Good stuff Lynx.

Mariane and Nicola haven’t yet submitted their results for July. 

 

GROUP H

Name	Website	Net Worth Goal (Pro Rata)	Net Worth July Result	Net Worth YTD Comparison	Savings Rate Goal	Savings Rate July Result	Savings Rate YTD Comparison
Philippa Malia		14.6	13.8	-5%	60	68	+13%
Chris Smith		11.7	NS	NS	25	NS	NS
Mr Zombie	Finance Zombie	23.3	NS	NS	20	NS	NS
Anjali	Fitadvisors	23.3	NS	NS	20	NS	NS

Philippa Malia – Philippa has fallen slightly behind her net worth goal, but this is largely because her pension hasn’t been updated since March despite contributing over 15% of her salary with an employer match. That will be updated in August.

Chris, Mr Z and Anjali haven’t yet submitted their results for July. 

 

GROUP I

Name	Website	Net Worth Goal (Pro Rata)	Net Worth July Result	Net Worth YTD Comparison	Savings Rate Goal	Savings Rate July Result	Savings Rate YTD Comparison
Greg		6.4	NS	NS	35	NS	NS
Jeanie Haupt		8.8	NS	NS	20	NS	NS
Shaun Butler		11.7	9.6	-18%	45	46	+2%

Shaun – A little behind where he should be in net worth due to a couple of poor months in the market. He mentions the downturn in the price of oil in the past few months as having a big impact on his investments. I would possibly question Shaun’s overall investment strategy if this is the case, so get in touch if you want to chat about it Shaun. Savings rate still good though. 

Jeanie & Greg haven’t yet submitted their results for July. 

 

 

Conclusion

So, overall, another great month all round. Well done everyone. Keep saving, keep investing, keep tracking and keep submitting. That way, we’ll hit those goals and make sure that 2015 was your best financial year to date.