So, you lost your job – 6 key steps you should take.

I lost my job and it sucks! Losing your job can be a very traumatic and challenging time. I know, because I lost my job recently I’m wondering what to do. From the blow to your finances to the dent … Continue reading So, you lost your job – 6 key steps you should take.

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.

The day I paid off my debt

Today I made the final payment on my credit card. It felt scary to do it. I had all kinds of anxiety thinking things like “I’m going on holiday at the end of the month, do I have enough?” Well, the answer is yes, I do have enough. It’s a feeling I’m not used to having, but I have enough because I’ve sorted out my financial life.   There have been so many times in the past 6-7years where I’ve been struggling to get through the month, or worse just spending recklessly It’s deeply ingrained anxiety that I’ve lived with … Continue reading The day I paid off my debt

Emma, my new best money friend.

Budgets are fantastic tools to allocate your monthly income against certain items and keep on track with your spending. I have used budgets for many years and they have indeed helped me manage my money better. I have an Excel spreadsheet that has my income at the top from which I deduct all my expenses, leaving me with a remainder figure. At the moment that remainder is in theory quite large thanks to all the cutbacks I have made in my quest for financial freedom. But the quandary I find myself in is that the remaining money I actually have … Continue reading Emma, my new best money friend.

Summertime is coming (allegedly)

Here we are in mid-June already. The 12C and pouring rain would lead anyone to believe it was mid-March, but that’s the UK for you.  It’s been a busy few weeks for me as I have travelled to Luxembourg several times for work and also had numerous new ideas and ventures come my way. Firstly, the debt situation has continued to improve. I now only have £1440 of credit card debt left to pay. I was immensely proud of myself for getting this far and feel like this period of hard-core debt reduction is nearing its conclusion. That is getting … Continue reading Summertime is coming (allegedly)

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

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

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