Life and money decisions - 35 years old

Over the last 5 years I have reduced my credit card debt from around £12,000 to £500.

I have struggled to find a job I enjoy and have done quite a lot of job hopping in office jobs. I have however found a Permanent one now which pays around £1700 a month.

As I am nearing my debt free date, I am thinking of the big life goals I want to achieve.

I am still dying to travel more, especially South America. I did a period of study in Spain in 2011 and loved this experience. Not travelled very much since. Recently restarted Spanish lessons in London and it has given me wanderlust again.

Workwise - current job is admin, doesn't make me happy. I have interests in art and health, fitness, languages and travel. I hate to say at 35 I still haven't found a fulfilling career. I know these days many people work for themselves, are location independent. However I don't know what I would do to be able to live that lifestyle. A bit old now for TEFL and au pairing for one!

I worry that I have to decide between wanting to travel / career change and save for a deposit on a first mortgage. Does anyone else feel demotivated like it won't happen so what is the point in saving? I was never any good with my money but would like to own my own place within 5 years.
Achievements:
9 Aug 2021: Achieved a perfect credit score on Experian (999/999 points - Excellent)
Debt free date: 23 July 2021.
Next goals: Save deposit as a first time buyer.
Find ways to increase income
Further reduce budget/ sell old stuff

Goals for October 2018: Eliminate unneccessary spending
«1

Comments

  • patman99
    patman99 Posts: 8,532
    First Anniversary Combo Breaker Photogenic First Post
    Forumite
    First off, well done on wiping out £11500 worth of debt in just 5 years.

    Most of us are in jobs we don't like. At the end of the day, only you know what you want to do with your life.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)

    3-6 month EF £0/£3600 (that's 0 days worth)

  • moomin82
    moomin82 Posts: 227
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    Hi Patman!

    Thank you for the encouragement. I would not have been able to do it without the support on this forum. I also got some great support through StepChange Debt Charity and was able to work out monthly repayments with several creditors.

    I will stay in the job whilst I figure things out! Also save for a holiday. x
    Achievements:
    9 Aug 2021: Achieved a perfect credit score on Experian (999/999 points - Excellent)
    Debt free date: 23 July 2021.
    Next goals: Save deposit as a first time buyer.
    Find ways to increase income
    Further reduce budget/ sell old stuff

    Goals for October 2018: Eliminate unneccessary spending
  • jimbo747
    jimbo747 Posts: 630 Forumite
    You spend most of your life at work - might as well find something you enjoy. I love my job, I'd do it for free if I could afford to. If I'm spending 8 hours a day away from wife and kids it needs to be somewhere pretty damn good.


    As soon as debt cleared, start a fun fund. Can blow it on holidays, travelling etc
  • System
    System Posts: 178,076
    Photogenic Name Dropper First Post
    Community Admin
    Personally I don't think a mortgage is a be all, end all. You must chase your dreams. As long as you can afford to travel ect I'd go for it! Finding a job you love is hard I think. I've got a job with a lot of responsibility that I love one day and hate the next, I'm not sure if I could go back I would do it again but no idea what I would do Instead. Enjoy life whatever you decide to do and congrats on being debt free :)
  • sarahsays
    sarahsays Posts: 36
    First Anniversary Combo Breaker First Post
    Forumite
    Can't you stay in your job for, say another year, whilst saving for travelling, then apply to take a year out to travel. That means the job would still be there waiting for you when you finish your year's travel, in case you do want to return and go down the mortgage route, thus hedging your bets. You might find another opportunity whilst abroad which means you don't want to return, but at least you'd have the option. Alternatively, you could save and get a mortgage and get someone in to pay the rent whilst you travel.
  • Windofchange
    Windofchange Posts: 1,166
    First Anniversary First Post Name Dropper
    Forumite
    Similar to me aged 27. I quit my well paid job and went travelling and then returned to uni to retrain into a medical career. I hated the city. I hated spreadsheets and meetings and wanted to work with people. Worked at a big FTSE 100 company and I hated every day.

    When I returned from travelling I spent a few years as a personal trainer. That is something worth looking into for you I think if you are interested in health and fitness. PM me if you want more info. In the right area you could within a year be earning twice what you are now. I was at the time in London taking home anything from about £1500 - £4000 a month depending on how busy I'd been. Crap pay over the summer, great in January when everyone is getting fit / wanting personal training.

    Only you can answer whether you would prefer a mortgage or travelling. It was certainly an easier decision for me in my 20's than it would be now in my 30's (just). Can you get a job that involves travelling? Look to get a Visa for where you want to go? Pulling pints in an Aussie backpacker bar could still allow you to save a bit if you don't go out all night every night?
  • Windofchange
    Windofchange Posts: 1,166
    First Anniversary First Post Name Dropper
    Forumite
    Oh, and I echo the above - very well done on your debt reduction. I am nearly there too having come from a place a few multiples higher than where you started. It's an amazing feeling hey.
  • Australian working holiday visas are only up to 31 years old unfortunately for the OP.
    "All truths are easy to understand once they are discovered, the point is to discover them."


  • jimbo747 wrote: »
    You spend most of your life at work - might as well find something you enjoy. I love my job, I'd do it for free if I could afford to. If I'm spending 8 hours a day away from wife and kids it needs to be somewhere pretty damn good.


    As soon as debt cleared, start a fun fund. Can blow it on holidays, travelling etc

    I'm curious, Jimbo - what is your job? Don't often hear of people speaking so highly of theirs. A rough idea is fine if you don't want to give away too much info.
  • moomin82
    moomin82 Posts: 227
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    Similar to me aged 27. I quit my well paid job and went travelling and then returned to uni to retrain into a medical career. I hated the city. I hated spreadsheets and meetings and wanted to work with people. Worked at a big FTSE 100 company and I hated every day.

    When I returned from travelling I spent a few years as a personal trainer. That is something worth looking into for you I think if you are interested in health and fitness. PM me if you want more info. In the right area you could within a year be earning twice what you are now. I was at the time in London taking home anything from about £1500 - £4000 a month depending on how busy I'd been. Crap pay over the summer, great in January when everyone is getting fit / wanting personal training.

    Only you can answer whether you would prefer a mortgage or travelling. It was certainly an easier decision for me in my 20's than it would be now in my 30's (just). Can you get a job that involves travelling? Look to get a Visa for where you want to go? Pulling pints in an Aussie backpacker bar could still allow you to save a bit if you don't go out all night every night?

    Hi there
    Interested to hear how you found it working as a personal trainer? Have you left this industry now or do you still work in fitness? I have had a desk job my whole life so only now trying to think of less deskbound jobs!

    I would try to stay in the job at least another year whilst I research and save for holidays, retraining etc.

    Learning to budget and actually save now that I am not always in the minus! Strange feeling!

    All the little daily actions add up, so I am doing things like NOT going impulse shopping, bringing homemade lunches to work most days, decluttering and only buying what I need.
    Achievements:
    9 Aug 2021: Achieved a perfect credit score on Experian (999/999 points - Excellent)
    Debt free date: 23 July 2021.
    Next goals: Save deposit as a first time buyer.
    Find ways to increase income
    Further reduce budget/ sell old stuff

    Goals for October 2018: Eliminate unneccessary spending
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.2K Banking & Borrowing
  • 249.8K Reduce Debt & Boost Income
  • 449.3K Spending & Discounts
  • 234.4K Work, Benefits & Business
  • 606.7K Mortgages, Homes & Bills
  • 172.7K Life & Family
  • 247.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards