Finance, Uncategorized5 Comments

The day I paid off my debt

The Wealthster

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

Finance, Uncategorized1 Comment

Emma, my new best money friend.

The Wealthster

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.

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Summertime is coming (allegedly)

The Wealthster

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)

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May update

The Wealthster

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

Finance, Uncategorized1 Comment

Some anxiety

The Wealthster

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

Finance, Uncategorized1 Comment

Housing in London

The Wealthster

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

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Monthly update April 2019

The Wealthster

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

Calculation, Finance, Tracking, Uncategorized4 Comments

Calculations and calibrations

The Wealthster

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

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The end in sight

The Wealthster

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

Tracking1 Comment

Another week has passed

The Wealthster

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