I have just
realised that I haven’t shared my biggest (so far) side-hustle plan! Anyone
who’s seen my pitiful budget will have noticed that there’s a significant flaw
in it… one that would make it near impossible to reach my millionaire goal from
my income alone…
… it’s not
enough. Nowhere near. Our FIRE eager friends across the pond may be able to
save more than 50% of their $100k plus salaries, but it’s very difficult to
save 50% of… not a great deal. This would mean me living on around £805 per month-
not easy, especially when I am paying back around £250 a month in debt repayments!
I suppose I
could sell all my stuff, farm the cats out, move into a room in a shared house,
sell the car and live on beans on toast, and I am sure there are some people
who would think that’s what I should be doing.
plans for millionaressdom have hit a glitch recently… I am selling a property I
own and which I had been letting to tenants. It has been a money pit ever since
I bought it, needing constant improvements and repairs. I wasn’t actually
making any income from it, so decided to just get rid.
It sold for
£65,000, which, after paying the fees and the mortgage, will see me with a
couple of grand in my pocket.
It would be, except there are a couple of snags;
I have two
friends. Yes- really! And they are as different as the proverbial chalk and
cheese in their approach to money and spending. For the sake of simplicity,
let’s call them Mary Miser and Sally Spender.
is, for want of a better term, a tightwad. She will wait to go to the
supermarket at times when she knows that the food will be reduced, even if it’s
late in the evening. She fills her freezer with packs of bread rolls for 9p. She
has a purse full of discount coupons, and her motto is ‘make do and mend’.
She is on a
water meter so she will scoop buckets of water from the water butt outside to
flush the toilet with. Teabags always get a second, and maybe even a third,
use. If she does spend money on a holiday, she tries to spend as little as
possible whilst she is there, to the point where if she sees something she
really likes she will talk herself out of buying it.
So- the dust
has settled from Christmas, the decorations are back in the loft and the excitement
of having a brand-new year ahead of you is rapidly fading into the past. Remember
January 1st, when a slightly hungover you told yourself that 2019 is
going to be the year, the year when you make a real difference to your life,
the year that changes everything…
… Oh hang on
though- didn’t you say that about 2018 too… and 2017… and 2016… yet despite a
few small wins, nothing really changed? You are still pretty much where you
were five years ago- or more…
galloping towards the middle of February… several weeks of the new year have
already gone. What have you done so far? Is 2019 starting to slip away from you
already? Scared of reaching Christmas and realising that very little has changed…
On one hand
I can’t believe that one whole month of 2019 has flown by already… on the other
hand January felt like it lasted 60 days!
So how did
January (and my start to 2019) pan out? Well…
I am still
waiting for the house sale to go through. It is taking ages, which is
frustrating as I just want it sorted now, especially as the property is now
empty- which means I am still paying the mortgage and buildings insurance but
receiving no income.
I was chatting with a work colleague the other day-
well, she’s actually a friend as well as a colleague, as we have been working
together for a few years now.
She mentioned that she can’t wait until pay day; we
were paid earlier in December for Christmas. She then expressed her frustrations
around living permanently in her overdraft and never having any money to treat
It occurred to me that we are both stuck in the
Singleton Trap… ok so she’s not actually single, but doesn’t intend living with
her partner so they don’t pool resources (although I imagine they share costs
of holidays and going out).
It’s the start of a brand new year and here is my debt total for January 2019
|Capital One Card||£502.83
I love the start of a new year. A clean sheet, a whole
twelve months stretching ahead, full of promise…
It’s a tricky business, making resolutions. According
to surveys, most are doomed to fail, biting the dust before the last (much
thinner than it used to be) segment of Terry’s Chocolate Orange has been
The excitement of a new year and a fresh start inspires
people to think that this is the year things will be different, that this is
the year they will make a difference. They start January with a fire in their
belly, committed in that moment to making things happen.
seem a lot of point in a December update as the month just seems to haemorrhage
money! What with all the Christmas gifts and extra food to buy, plus I do end up
going out to eat more. I put money aside each month towards presents but it
doesn’t cover all of December’s expenses.
I have still
paid the £100 off my Virgin card but have only made minimum payments on Capital
One and Vanquis.
In order to
get to my first £100 for DYWTAM, I came up with ideas for a couple of stocking
filler type items whilst browsing Christmas stuff on eBay – one on a jokey
theme and the other based around a Magic Santa Key (the idea is to give kids
without chimneys a small key so Santa can still get into their house!)
Reliving the glorious failures on my road to financial independence can be quite addictive! The first sorry part can be found here;
My 40s have seen more ‘business’ ideas in the form of building affiliate blogs in order to try to sell stuff such as digestive supplements (I know!), plus building WordPress sites to sell (which saw slightly more success and which helped pay for property repairs at least). It was hard work though and I am rubbish on anything technical.
My early 40s was when I first started writing articles- creating packs of PLR (Private Label Rights) articles that people could purchase to use on their blogs.
I have also started to submit articles to on and offline magazines, some of which have been published, and some have even paid me for using them.