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Save my life!
Savingsideas
Posts: 31 Forumite
This is going to sound ludicrous to most of you however I can assure you these circumstances are completely true.
The wife and I landed essentially a dream job 2 years ago. We are both in our mid 20s. We are well paid (each earning 2500net) and on top of this have all our living expenses covered. The cherry on the cake is, we actually do about 5 hours per week of actual work. Whilst being on call 24/7. However over 2 years, rarely have we worked 10 hours in a single week. We regularly even go for weeks without being called upon.
I can feel the hatred building already
Instead of doing the sensible thing and making use of all this free time and money to benefit our lives and those around us. We have filled our lives with expensive hobbies. Horses, sailing, motorbikes, electronics and sports(golf, squash, gym membership, shooting.
Whilst doing this, we have managed to empty all of our savings to the point where we have about 7k left in the bank. Rewind 2 years ago, we had about 40k saved for a rainy day.
The aim: Sort out our lives. Stop spending money. Start stashing money in what is a golden opportunity that probably won't last for ever.
Down to why I'm here, 3 questions:
1) What savings accounts do you guys recommend?
2) Any investments that spring to mind. Something I can trickle feed, preferably whilst doing something that consumes my time. I was thinking stock market, or somehow buying a house and doing it up.
3)Any tips or tricks for free hobbies? We still have far more time to occupy. Boredom is half of what has caused this situation in the first place.
The wife and I landed essentially a dream job 2 years ago. We are both in our mid 20s. We are well paid (each earning 2500net) and on top of this have all our living expenses covered. The cherry on the cake is, we actually do about 5 hours per week of actual work. Whilst being on call 24/7. However over 2 years, rarely have we worked 10 hours in a single week. We regularly even go for weeks without being called upon.
I can feel the hatred building already
Instead of doing the sensible thing and making use of all this free time and money to benefit our lives and those around us. We have filled our lives with expensive hobbies. Horses, sailing, motorbikes, electronics and sports(golf, squash, gym membership, shooting.
Whilst doing this, we have managed to empty all of our savings to the point where we have about 7k left in the bank. Rewind 2 years ago, we had about 40k saved for a rainy day.
The aim: Sort out our lives. Stop spending money. Start stashing money in what is a golden opportunity that probably won't last for ever.
Down to why I'm here, 3 questions:
1) What savings accounts do you guys recommend?
2) Any investments that spring to mind. Something I can trickle feed, preferably whilst doing something that consumes my time. I was thinking stock market, or somehow buying a house and doing it up.
3)Any tips or tricks for free hobbies? We still have far more time to occupy. Boredom is half of what has caused this situation in the first place.
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Comments
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Half. Term.0
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1) Doesn't matter. Your saving rate is minus £2k per month. What colour deckchair was best on the Titanic?
2) Investing is level 2. Having some money is level 1.
3) It costs nowt to post here... so, welcome! Seal clubbing is also free although it makes you feel a bit like I do now.
Seriously, being on call 24/7 sounds quite restrictive- it would be good to at least build up some capital during this job. Good luck.0 -
Find an even more generous millionaire to house sit for.
Or rein in the expensive hobbies.
And get some other paid part-time work you can do from home. This sounds like a perfect opportunity for author and editor.0 -
Why can't I find one of these Indonesian businessmen?0
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Savingsideas wrote: »
I can feel the hatred building already
I don't see why, I think most on here will sorry for you.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Find an even more generous millionaire to house sit for.
Or rein in the expensive hobbies.
And get some other paid part-time work you can do from home. This sounds like a perfect opportunity for author and editor.
We can't get an extra income. It's against our contracts, also not really what we "want".
I bought 2x Gopro cameras in the black friday sales. I was thinking of starting motorbike vlogging.
So I was reading on this forum. I've done a cashflow. I've gone through the last year of bank statements. Something I've never done before.
It works out we have approximately 2235 of fixed outgoings now. Leaving us with 2765 disposable.
We are just spending the rest and our savings on fancy restaurants, clothes, vet bills etc. Wasting it.
775 Family help (Probably more like 1000, but its not consistent. The extra is individual hand outs)
1200 Horses
150 Gardener
110 Phone Contract
(Motorbike insurances are paid annually, but work out to about 80per month.)
I feel like putting money each month into shares (I'm completely ignorant but willing to learn) might be a way to occupy my time. Whilst making/losing money.
Are there "experts" we can speak to?
(Nothing wrong with you guys)0 -
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Sell the horses.
Do your own gardening.
The horses thing is non negotiable. Same with our dogs. We rescued 3 dogs (and bought 1)
Of course we could do our own gardening,
If the horses went, the wife would be bored stiff. Its her passion, her hobby. They aren't going anywhere!
I should add, I'm allergic to horses. Just to add to the comical side of the fact they cost us 14k per year.0 -
Use the horses to do the gardening
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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