2019 year end

Last 2019 post   December was incredibly busy for me and I hope you will excuse the lack of a post until now.   My girlfriend’s sister has been visiting and we have been busy entertaining her. That involved a trip to Dublin for a weekend and then Scotland for Christmas and New Year.   Along with a very busy December at work, I have finally tied up some financial loose ends.   I have consolidated two pensions from former employers into a SIPP. This tidies up my finances and I hope will save money on fees. Previously I was … Continue reading 2019 year end

RE: The problem with FIRE

My FIRE journey is approaching 1 year old. I first came across FIRE around this time last year by reading a New York Times article about it and was completely inspired. I set about doing it right away. I chucked some money into a Stocks and Shares ISA before realising I was making a false start. I had to pay off my vast debt before anything else and now I’m actively investing.   Over the past few months, I have had a niggling pain in my side about the whole process. Although I am completely enamoured with the FI part, … Continue reading RE: The problem with FIRE

Savings update Nov 2019     

It’s that time again – my savings update. This month I put a lot of effort into developing a spending tracker so I can accurately calculate my savings rate. I had previously been using a theoretical savings rate based on my budget. However, as we all know, sometimes we go a bit off course and I need the data to reel that back in. I now have that data but first the figures in a spreadsheet.   The Figures   My Saving rate for Nov 2019 was 84%.   Yes, I was as astonished as you perhaps are. I actually … Continue reading Savings update Nov 2019     

Enjoying life

After perusing the UK personal finance Reddit thread, I came across a post asking people to name their biggest financial regret. Amongst the many depressing and amusing suggestions, there were several people who claimed that they had “no regrets” and that the others admitting regrets should just “enjoy life”.   At first, I thought that was a rather strange answer to the question as surely, being honest with yourself, there must be something that you regret purchasing.   Despite that thought, I came later to reflect on what enjoying life means.   Certainly, it means something vastly different to each … Continue reading Enjoying life

Payslip calculator

While wondering what to do about my pension a couple of weeks back, and starting a new job, I decided that I had no clue what my new take-home pay would be. I spent some time (a lot of time) making this handy payslip calculator. Pay-Slip-Calculator-v1-2 It will calculate the tax, NI, student loan, and pension deductions from your PAYE salary and give an idea of what your take-home would look like. It is useful for playing around with pension percentages to see what impact it will have on your income without having to ask payroll. Its very simple to … Continue reading Payslip calculator

November update

Time flies when you are having fun as the saying goes. October was a big month for me but it went by very quickly indeed. I finally finished a job I was hating where I had to wait out my three month notice period. I had a week off at home chilling, resetting and getting my life in order before starting at my new job. I am very happy with the move so far. I’m working on some great projects and my colleagues seem super nice so far. Plus I’m paid more which will accelerate my journey to FIRE. The figures … Continue reading November update

Review of All About The Money podcast article.

I just had the displeasure of reading one of the most childish articles on personal finance I have ever read. It’s an article I wrote when I was aged 23. https://www.bbc.co.uk/programmes/articles/4Gsq4lf46lWz2tB74LH9KQq/why-im-sick-of-being-told-to-save-money OK, so I didn’t write it, but I probably had the same attitude to money as this young lady back then, and I know what happens when that attitude continues on as you get older. You get in huge debt believing that you will never get old and have plenty of time to make your first million. As you are reading my site, and I’m sure you are interested … Continue reading Review of All About The Money podcast article.

Pension Pondering

  I had some time on the weekend to consider the best approach to my pension contributions. I found myself going down a rabbit warren of spreadsheets and tax legislation and thought it might be an idea to share what I found. What are they? Pension is a term used to describe money which is protected from tax and is intended for retirement. Currently, you may only access your pension funds once you reach 55 years old. Other features include: Mandatory enrolment for all employees who are eligible. Tax-free contributions are limited to £40,000 per year. Max limit of £1,030,000 … Continue reading Pension Pondering

October update

I haven’t done a net worth update post for a while, so now seems like a good time to get back into the habit. I have, however, been tracking my net worth in the background and can say that it has been quite motivating to see my progress. From when I started tracking this a year ago, I have seen a 20% increase in my net worth, which I think is fantastic. It is almost all from paying off debt and increasing savings. I have three pensions which have increased by about £9k in the past year. I am looking … Continue reading October update

Holidays and fun

I have just returned from what seems like a month of holidays. I went to San Francisco to visit my good friend and his girlfriend, with my girlfriend. We stayed in their lovely flat in amongst the fog in Richmond, SF, near the Pacific ocean. They then came to the UK and stayed at our place for a few days before we all went to Munich for Oktoberfest. This is the first big holiday I have done while on my FIRE journey. It was always going to be expensive but I think it was totally worth every penny. Having spent … Continue reading Holidays and fun