I postponed posting on this blog as I’m currently busy building up my SaaS (Software-as-a-service) company.

I will continue to update the stats below on a monthly basis

Net Worth – https://chuffed2bits.home.blog/net-worth-tracker/

Assets and Liabilities – https://chuffed2bits.home.blog/finance-tracker/

Passive Income – https://chuffed2bits.home.blog/passive-income-tracker/

Quarterly Net Worth Update: June 2019 – £262,341

Our net worth increased by +1.07% this month to £262,341 from £259,561 in the previous month.

Total Assets: £494,556

Cash: £33,186.

Property Value: £358,221. Our London property is valued at £320,000 while our Philippine properties are valued at £38,221

Crypto: £7,468. Wow we didn’t expect our crypto portfolio to grow 300% this year. We were lucky with a few crypto bets mainly in LTC (Litecoin) and BTC (Bitcoin). An event called Litecoin “halving” will occur around 25th August 2019. This is propelling the Litecoin bull run and most likely people chasing. My knowledge of this space is limited so don’t quote me on this. Halving means the block reward given to miners is halved which reduces the printing of new coins which in turn reduces the inflation.

Startup Investments: £25,549. I’ve written off a few companies that aren’t actively engaging with investors e.g. companies that don’t provide investor updates. This reduced the value of my investments by -16.4% from £28,996 ouch!.

ISA: £9,418. I’ve added £2,000 this month. £1,000 came from my active trading account and £1,000 from our cash savings.

SIPP NAV: £57,309. £1,000 automatically added from my IT consulting business every month.

Trading Account: £3,400. I’ve withdrawn about £1K from my trading account and put the money into my ISA account. Account increased by about +£298 since our last update. Last month’s value less the 1K withdrawn is £3,102.

Total Liabilities: £232,215

  • Property Mortgage: £222,570
  • Personal Loan: £9,438
  • Credit Card: £206

Net Worth Update: May 2019 – £259,561


We’re pleased to report our net worth increased by £10,264 (+4.12%) from £249,297 earlier this month to £259,561.

The rise in our net worth is mainly due British Pound sterling devaluation. GBP declined 2% against the PHP Pesos since our first net worth update. To put it simply, our Philippine assets became more valuable in £ terms.

Assets: £492,900

  • Cash: £34,977. We’re keeping this much cash because we are planning to use up to 3/4 of it to invest in another rental property in the Philippines to meet one of Mrs. C2B’s 2019 goals of £280 monthly rental income, currently at £133 a month.

  • Property Value: £357,805. Our property value in London remained at £320,000. Our properties in the Philippines increased slightly after revaluation with a combined value of about £37,811.

  • Crypto: £5,314. We invested something like £2,000 into crypto currencies at the start of the year. Around mid of this month these cryptos were worth around £5,000, we sold about £1000 worth. Yet they still went up as if we never sold (pure luck perhaps). Proceeds went towards my ISA account.

  • Startup Investments: £28,996. I don’t know whether to include these or not as these are high-risk investments. The majority of these companies were eligible for EIS and SEIS. I was able to claim 30% tax offset on EIS companies and 50% on SEIS companies. Our original investment was around £13,000. Some of our investments are tech companies like JustPark, Monzo and WiseAlpha.

  • ISA : £7,183. Added around £2,000 this month. Some of it came from selling crypto-currencies.
  • SIPP: £54,523. £1,000 automatically added from my IT consulting business every month.
  • Trading Account: £4,102. An experimental small trading account that I’m currently building up. I was able to grow this account from £3000 earlier this year to now £4,102. And about +£252 profit this month, previous month’s value was £3,850.00.

Liabilities: £233,339

  • Property Mortgage: £223,213
  • Personal Loan: £9,729
  • Credit Card: £397

Chuffed2Bits Income

Expected Annual Income

Our expected net annual income is about £56,979.36.

(£4,615.28 + £133) * 12 months = £56,979.36

Income Sources

My income is a combination of dividend and salary taken from my IT consulting business totalling about £4,075 monthly. I also have to account for future tax liability of roughly £3,000 per annum or £250 a month. £4,075 less £250 of tax liability is around £3,825 net monthly income.

Income from the UK

Mr. Chuffed2BitsMrs. Chuffed2Bits
Dividends (from Business)£3,125.00£0.00
Tax Liability -£250.00
Combined Monthly Income£4,615.28

Mrs. Chuffed2Bits’ post-tax income is about £790.28 from her part time job. Rental properties in the Philippines under her management are netting roughly P9,000 monthly. This is around £133 a month in passive income with the current exchange rate of P67.50 to £1.00.

Income from the Philippines

Mr. Chuffed2BitsMrs. Chuffed2Bits
Rental Properties₱ 0.00 ₱ 9,000.00

I’m not counting dividends from our stock portfolio for time being as dividends received will be re-invested and should be reflected in the total portfolio value.

So there we have it! That’s all our income sources accounted for.

Chuffed2Bits Net Worth £249,296.87

Net Worth is what you own minus what you owe.

What you own (assets)

  • Properties or Real Estate (house, rental properties, farm land, lot)
  • Jewelries
  • Stocks, Bonds, ETF, Mutual Funds and Trust Funds (based on mark-to-market valuation)
  • Business (based on valuation)
  • Vehicles (Cars, motorbikes)
  • Cash
  • Artwork
  • P2P lending account
  • Business / Start-up Investments (based on market value)

What you owe (liabilities)

  • Mortgage
  • Loans
  • Credit Card Debt
  • Student Loan
  • Bank Overdraft

I’ve done my best to estimate our net worth as of 03 May 2019. Here is the number £249,296.87

I’ve ignored electronics, furniture and jewelries. I have also excluded my business’ liquidation value (I’m 100% shareholder). There’s roughly
£242,886.17 cash and equivalents in my IT consulting business.

Net Worth

The Journey Begins

Who is Chuffed2Bits?

I am in my mid 30s originally from the Philippines, currently residing in London, UK. I am a software engineer. I have been in this industry for over 12 years now. The first 7 years as a permanent employee and the last 5 years as a contractor. My wife is a home-based part time freelance admin. We have one child, he is about 9 yrs of age.  

I am not revealing my identity yet as I don’t want my family, relatives, friends and co-workers to know about my plan to F.I.R.E myself (financial independence retire early). It will definitely raise some eyebrows when they find out. It’s not the norm – go to school, get a decent degree, find a good job and retire at 67. Sod that! I can’t imagine another 30 years of my life stuck in a cubicle. I’m not built for that, I never was. 

Most FIRE blogs I read are US and UK based. I may be the first UK-based Filipino FIRE blogger, so if there are others, please do let me know 🙂

I created this blog as way for us to keep track of our finances and set realistic and achievable financial goals that will hopefully lead us to our ultimate goal – simple and sustainable lifestyle and more time with my family without worrying about money. 

My journey to FI begins!