May update

May has been a long month by all measures. Many things have come to a head and I’ve felt both directionless and demotivated at times, and extremely excited about the future at others. Firstly, the issues with the company have made me reassess what I am doing career-wise. I think I’ve mentally checked out of the company, and although I have half-heartedly applied for new jobs, it’s only a matter of time before I do so properly. I just feel there is no point in working hard for a company that is on the brink and is being run so … Continue reading May update

Some anxiety

The past three weeks have been rather difficult for me. Despite my genuine excitement at being able to ‘see the light at the end of the tunnel’ for my debts, some external forces have upset this happy FIRE ship. On Tuesday shortly before Easter, when I arrived at my company’s office, there was a bouncer on the door and a notice saying we could not go in. Rather perturbed, myself, the Chairman and other employees didn’t really know what was going on. I work for a small consultancy business with big ambitions, and one that has taken some big risks. … Continue reading Some anxiety

Housing in London

London, Londra, Londres. What a city. Home of The City, Big Ben and Buckingham Palace. Hub of culture with galleries, museums and stunning architecture. Home to culinary delights and thriving nightlife. It is indeed a great place to live, but I’m not alone in that view. The result of this popularity is many, many, people arrive from around the UK, Europe and the wider World come to experience what the exciting cultural melting pot has to offer. My girlfriend came from Melbourne, the world’s most livable city for seven years running, to live in this city. I have many friends … Continue reading Housing in London

Monthly update April 2019

I have been quite busy the past few weekends so have not had time to update my blog. After doing my calculations on the best way forward with paying off my mortgage or investing  (Calculations and calibrations ), I felt much better and have a direction to divert my efforts to post becoming debt free. Last weekend I paid £1500 onto my credit card bringing the balance down to £3300. I decided not to go for the full £2000 as my lodger has not paid his rent yet (yes a continual problem – he does pay it but never on time!!). … Continue reading Monthly update April 2019

Calculations and calibrations

Last weekend shortly after making my blog post, buoyed by the confidence that I am approaching debt freedom, I spent several hours calculating whether it would be better for me to save money or to pay off my mortgage. Firstly, there are several viewpoints on whether mortgage debt counts as ‘debt’. Of course it is different to a credit card or a car loan as you have purchased an asset that will appreciate in value and give you ‘equity’, and you pay off a chunk each month which also contributes. However, as that equity is tied up in the home, … Continue reading Calculations and calibrations

The end in sight

It’s been a long month for me. I’ve had some ups and downs with job applications (mainly downs) but have enjoyed going to various sporting events such as England v Scotland at Twickenham. The best thing about the rugby game was it didn’t cost me a penny as my company paid. I can’t think of a better way to save money and have fun! Debt The end of the month is approaching and I’m actually looking forward to getting my paycheck and paying off more of my debt. I should be able to pay £2000 this month which will bring … Continue reading The end in sight

Another week has passed

I’ve had a good week. My work treated me to tickets to England v Scotland at Twickenham. It was an astonishing game which will stick with me for the rest of my life. I really do wish my Dad had a chance to see it. It would have been an expensive day save that my company will pay for it. Can’t get better than that?! As for my FIRE quest, I’m feeling much better. My cash flow has improved, people have paid their bills to me and I have the cash to get me to the end of the month. … Continue reading Another week has passed

Feeling the pain

Last week I paid off £1200 of my credit card. It felt good to be making progress, but also scary. I’ve taken the approach that I must clear these debts as fast as possible with a target of 3-4 months being a stretch target. I’m anxious that I may be biting off more than I can chew. I now only have £1172 in my account to last me the month. I know I have at least £650 of payments coming out before the next paycheck. However, I am owed £500 in rent and have £400 of expenses to clear. In … Continue reading Feeling the pain

Money management

I have never been great at money management. I think living in a city such as London, you are so stretched at all time, it is hard to motivate yourself to save. There is always something you can do, someone to meet up with, some dinner to go to. Living that lifestyle eats up money that could be saved, and critically, eats up your will to save. If each month, you are struggling to get through the last week (or sooner!), you need to reconsider how you are living. All these fun things you are doing are costing you money. … Continue reading Money management

January/February 2019 – financial situation

I want to track my progress publically for two reasons; one, tracking will allow me to see the progress I have made, and two, it will motivate me and hold me to account knowing I have told people what I am planning to do.  I know it’s February, but I wanted to start at the beginning of the year. Assets: Flat: £450,000 Pension 1: £94,000 Pension 2: £4,382 Investment: £1,800 ETF: £961.00 Savings: £8000 Debts: Mortage: £259,000 Professional studies loan: £7000 Bank loan: £8000 Car loan: £12000 As you may see, I am swimming in debt. It’s not big and … Continue reading January/February 2019 – financial situation