Wealth update – 31/12/2020

It’s the last day of 2020! Here’s a quick update of the last two months as I forgot to do one for November due to being extremely busy with work.

Gas supply saga

I still have no clue what’s happening with my gas supply switch. The new provider has confirmed they have made the switch but I’m still being charged by my old provider and haven’t had a closing bill…

British citizenship saga

Both me and my girlfriend have received an email from the Home Office notifying us that our British citizenship applications were successful. My email came a few days after my girlfriend’s – even though we submitted everything at the same time. I was worried for a little bit but am very pleased with the outcome.

In case you’re wondering, it took us 10-11 weeks to get the emails about the Home Office’s decision from the point we first made our applications (and we gave our biometrics a month after the application).

The final stage of the process is to attend a citizenship ceremony. However, coronavirus has made it difficult to arrange these and there seems to be a bit of a backlog. The councils might be able to arrange virtual video conference ceremonies… we shall see. I expect us to be British between March – May 2021.

It feels good to have one thing less to worry about.

Lifestyle inflation?

I have been shopping! And it feeeeeeels gooood.

I bought a new pair of pants for myself from Lululemon. Yep, it’s that overhyped expensive yoga pants shop. I bought office/work pants from them. These bad boys set me back £118 and are easily the most expensive pair of pantalones I’ve ever bought.

The main reason to buy them was the anti-ball-crushing (ABC) technology, which they promoted on their website. I was sold and immediately bought them.

You must be curious whether the ABC actually works as expected. Sadly, I don’t feel like there’s much of a difference and my crown jewels can totes be crushed when I wear my Lululemons. I wear them every day and it’s not because they’re my only pair of trousers… #ExtremeFrugalism. Seriously though, they are decent trousers but I would recommend going for something cheaper if you can.

The shopping spree didn’t end there. My 4 year old Pixel phone’s battery life was poor and the device felt slower by the day. Therefore, after lots of debating and online researching I decided to upgrade to the new Pixel 5 for £599. I thought this phone would last me another 4 years as it’s got 5G. So far, I’m very happy with the new phone.

Now for Christmas we also bought something for the body. As it’s cold outside and the pandemic is still roaring about (gyms are closed), we decided to buy an indoor exercise bike. We got the JLL IC400 Pro bike for £519.99. Neither of us knew anything about bikes so we bought something in the middle of the expense range hoping that it’s not crap. So far so good. I am totes getting a six-pack in 2021! 🙂 My only gripe is a sore bum from the seat.

Counting my beans

OK. Numbers! My wealth has gone up in both November and December 2020.

November 2020: My net worth as at 30/11/2020 was £142,616 – an increase of £25,064 or 21.3% from Oct 2020.

December 2020: My net worth as at 31/12/2020 was £161,239 – an increase of £18,623 or 13% from November 2020.

In both months I made a £1,600 ISA top-up and £292 pension top-up and £50 was paid into Premium Bonds.

So, both November and December have been positive months and my net wealth is closing for the 2020 year at an all time high. I’ve calculated that my wealth increased by £90,379 (from £70,860 on 1/1/2020) in the 2020 calendar year – of this £26,545 was new money and £63,834 was the investment return – that’s more than £5,300 of gains each month in 2020! Wow! I am very happy with this.

2020 has been a great year for my portfolio, I’m also almost British now and will get a six pack very soon! Pandemic aside, I hope you had a good year too and I wish you a fantastic new year!

Becoming British

We had a day trip to East Croydon today to sort out some stuff for British citizenship. This is the last step you need to go through prior to the naturalisation application being sent off.

We’ve never been to Croydon. It’s a shame the first impression was of a hobo asking for £2. Wow, inflation much? What happened to “spare change please”? They go straight to £2 these days.

The experience at the Home Office (or was it SopraSteria?) wasn’t great but not awful. The email, confirming the appointment, stated that we needed to show up with ample time to spare. We showed up around 9:20 for my 10 AM and my girlfriend’s 10:30 AM appointments.

It was easy to find the building. It was the one with the queue out its door. We’re in lockdown now and hardly anything else was open on the street.

It was cold and we all had to wait outside as we slowly made progress in the queue. I disliked that people who didn’t show up early but right on time always got to cut to the top of the queue. An old chap in a high-visibility vest was calling out “anybody here for 9:30” and then all the 9:30 people went straight to the top of the queue…

That was frustrating. What was the point of instructing us to show up early – to spend the time in the cold? Why was the queue needed at all? I’m glad it wasn’t raining.

We were also instructed to bring all of our original paperwork along with us to the appointment. However, they only checked our passports, nothing else. I spent around £30 printing everything in a Ryman having already uploaded all the documents to a portal. What a waste of time and money…

I’m glad the appointment was free of charge. I can’t believe that if we opted for an earlier appointment (i.e. not in 4 weeks’ time) it would have cost us £90 each. All they did was scan the passport, take fingerprints, record a signature and take photos – no more than 10 minutes per person.

Anyway, we’re glad we’ve dealt with the bureaucrat. Let’s wait and see to hear back from them. Fingers crossed the Home Office doesn’t need any additional information and we get a positive answer soon (apparently this can take up to 6 months, Covid-19 will probably increase this timescale further).

Also, I hope Joe Biden wins and Donald Trump goes away. The stock market seemed to like the idea of Joe winning – this almost reversed all of my drawdown from the last two months and I’m back at £140K net worth.

Bye now!