Hope is not an Effective Financial Strategy

KajiKita

Hi @shangaijimmy  

I have read your diary here from the beginning to now. It feels like the story is unconcluded .... It would be lovely to hear how you, your family and your MSE journey is going now. Have you switched careers?

Either way, whether you post or not post, I just wanted to personally thank you for everything I have learned from your thread. Very much appreciated 

KK

shangaijimmy

Well it’s been a while… 

And here I am creeping back into the house in the dark, hoping to not get spotted or to fall over the teenage clutter on the stairs 

Life has certainly thrown a lot our way over the last few years. Unfortunately plenty of heartbreak that hasn’t been balanced with enough joy, job changes for the 2 of us (I’m now self employed which the thought of this would have horrified me 5yrs ago)…but we’re still here, are all healthy (apart form pooch number 1 who passed away) and were intending to put our best feet forward in 2025 and beyond.

I’ve been intending to restart this diary for at least 6months, and after some budgeting at the weekend (spreadsheet fiddling never stops…as you all know) here I am. We’re not quite on the final push stages yet, but definitely in the phase where the the6 switch the lights back on in the cabin seats and you’ve got 30mins to go for a last toilet break ahead of the preparation for landing.

But for now pooch number 2 is bullying me for his morning walk.

SJ

greent

Good to see you, jimmy! 😀

Debsnewbudget

Welcome back 

themadvix

I wondered what that thread was in my unread bookmarks list! Lovely to have you back!

Humdinger1

Welcome back @shangaijimmy!

South_coast

Great to have you back, it's been a while! Sorry to hear about the heartbreak, but looking forward to hearing more about the final approach to landing - I hope your seat back is upright and table stowed!

shangaijimmy

Thanks all. I’ve spent a bit of time today navigating my way through a few diaries to get my bearings back and thought I drop a little post with some musings.

South Coast - I’m not sure we’re ready to stow our table yet, we’re more at the stage of scrambling on the floor for our shoes!

In the time I’ve been away from here I can safely say that we’ve continued in our money quest. Lots of pension payments, a remortgage to a new fix and lots of TT’s to keep momentum. We made our way through the £50k mortgage barrier which always felt a significant step for me. With ISA savings we could halve that debt now if we ever felt the need to and this is a reassuring feeling for me. Although that money is earmarked for spending on the house in 2025 as we’ve neglected it a little due to ‘life’ interferences.

The significant change is in me leaving a secure, stable job and the industry entirely after 20+ years… I’d gotten to the point where I was tired of dealing with other peoples messes. I was sick of the email or phone call saying “Can you sort this out…?”, and once I gotten to the stage that I said “I can do this but please tell me what tasks you want me to stop doing” (obviously met with an awkward silence) that I realised I was spent.

I wanted some time where I just looked after me…. So I trained to become a driving instructor… my mates thought it was hilarious “Just when we thought you couldn’t get anymore boring😂”… And here I am, a little over 12 months into it and I love my new working life. The pace of work is so enjoyable, no stress, no problems to solve for others, no meetings, no targets, pick and choose when I work. I keep saying to Mrs SJ “where is the catch?”.

what I can say for certain is that the change was only possible due to the work we’d put in on our finances for the previous 10yrs. Having everything under control financially allowed me to take the plunge and try something different. In essence it’s enabled me to I’ve started with my pre-retirement job 10yrs early, and it’s something I can scale up or down whenever i choose.

The thought of being self employed or a business owner filled me with horror as near as 5yrs ago. It just shows how perspectives can change. It’s not been anywhere near as daunting as I first thought, and as with most things the psychological barrier to the decision is the highest. As old readers will appreciate I through myself into spreadsheets, budgets and actually was looking forward to my first self assessment 🫣

Oh, and I may add that my mates are very envious when I tell them that I’m doing 28hrs a week 🤣

Back tomorrow with a few financials.

trix-a-belle

Welcome back!
Sorry to hear about No 1 dog but congratulations and well done on the job change, been in that situation myself & became an upholsterer, i'm at about 6 years out of the previous rubbish, I also was able to do so due to my MSE ways & having things in order. There will never not be a need for driving instructors, I had an ex who mixed it up between driving instructor, chef & police special for some variety.

Being MSE I hope you will be getting your self assessment in shortly after the financial year end so its out of the way, but maximising any interest you can earn before paying over what is due

KajiKita

Welcome back 😊
Sorry to hear about the hard times and the loss of dog 1. 

Very well done for being sub £50K 👏😊 that’s massive! 🥳🎊🎉 and I’m so pleased that you’ve got a new means of earning your living - you give me hope 😊

KK