Hello and welcome to the second instalment of The Journey. I can’t believe that a month has passed since starting this blog – absolutely crazy.
In this post, I will provide an update on what has changed in my situation, what I have been working on, any progress I have made towards paying off my mortgage, and what I plan on doing next.
What’s changed
I have been awarded a pay rise at work. Although not a life-changing amount, I am thankful as not all companies are in a position to offer pay rises at the moment. I will use the extra money to invest in crypto. Because we were getting by before the pay rise, the extra money isn’t needed for living costs or to pay bills so I can happily invest it in my family’s future.
What I have been working on
Aside from this blog – which now has 8 posts! – I have been laying the groundwork for a new website. I’m very excited about this website, but it is still a bit too early to disclose exactly what it will be. A small hint – it is in the realm of goal setting and accountability. The UI designs and data structure are in place, and coding began just a couple of days ago.
Going back to the blog for a moment, I’m really pleased with Is Crypto Dead? Or An Outstanding Opportunity in 2022?. I feel it may be a direction I focus on more for blog posts going forward.
Progress
There hasn’t been much noticeable progress this month in terms of monetary gains – crypto dropped almost every day of May and I don’t have any additional revenue streams yet. I’m still a great believer that crypto is a great investment for me and therefore my spare money has been invested in various cryptocurrencies.
Any unexpected/additional money I receive each month I intend to split 2 thirds into crypto and 1 third into the mortgage. This month I have £60 to put towards the mortgage as an overpayment. I’ll build this money in a savings account until it reaches £500 then make the overpayment.
Although not much progress this month, I wasn’t expecting much. These first few months are all about laying the groundwork for what will come next. Then the fun can really begin!
What’s next
For the month of June I will:
- Publish at least 8 blog posts
- Have a testable version of the new website project ready
- Invest at least £500 in crypto
That’s all for now – thanks for reading
Iain McClafferty – The Five Year Mortgage
