No Debt but struggling

gr1340

1 - Move out of London to somewhere that is cheaper to rent.
2 - Get a new job that doesn't involve working 15 hours a day.

You can't have any ties in London to keep you there such as friends or family so why stay?

If you need 7 hours sleep a night you have around 2 hours of free time on all but circa 4 days a month. That isn't a life, that is just an existence and I wouldn't do that for a million a month. If you were running your own business then maybe it would be understandable.

Zoe185

Thank you yes i have thought of moving to somewhere cheaper but this is my thinking please do correct me if im wrong

I work 15hrs a day which would mean getting up earlier and sleeping later. For that 20 or so quid of saving thinking of cheaper accommodation + travel cost i would have to give up the precious few hrs i have traveling

Yep I know that i have no life as of right now just an existence from one day to the next. Unfortunately with mum being mentally ill and the country she lives in having no benifit or tax break system i am the only one left to support her.

Some days I think of giving up and just moving to where she is but that would be another burden as the jobs there pay approx 14% of what i am making here so again would end up in the same boat of just existence and no life. Vicious cycle of paying bills and having nothing left.

Standard salary in my industry is GBP 28000, im lucky im even making what i am right now tbh.

Narola1976

Just a thought....have you tried doing surveys...they take a while to build up but every bit helps. Prolific is good. So is valued opinions

EssexHebridean

I think we're in danger of forgetting something here - the OP is not in debt. OP I think YOU'RE in danger of forgetting that too - and currently, pardon me for saying that, your lifestyle is actually sounding like a fairly toxic one - but I think you know that. If you could track down the surplus that is currently lost your position wouldn't be anything like as bad as it currently seems.

I would agree with the idea of surveys if it wasn't for the hours you're already working - more working time is simply not a good plan right now even if it's unofficial sort of work.

On the rent thing - do a rightmove search with the postcode set to work - set a 2 mile (ie easy walking distance) radius and see what there is out there. Keep looking - every day - you will need to be quick to get anything at the right price. Also search for properties for sale and start investigating mortgage costs. It's great that you have savings, but what exactly are you saving for?

lynz68

I'm sorry but you cannot continue with the amount of hours you are working at some point it's going to start affecting your own health both physically and mentally. I work 12hrs a day both days and nights but that's not every day.

Something is going to have to give you either need to cut your rent drastically or stop paying for your Mum (which I know you won't).

Potbellypig

Forget the money, you're managing just fine. From reading this thread, the main thing that sticks out to me is your existence. Go out and meet people, get some hobbies, spend your time doing stuff you want to do.

No form of debt and £25k in savings?! Most people on this earth would snap your hand off for that.

Live your life, Zoe. You only get one chance.

MagicMoneyTree

I'm a big fan of prepay spending cards like Monzo and Loot. Keep one bank account for bills, another for longer term savings like Christmas, birthdays and holidays, then load your spending money onto one of these cards and leave the rest at home.

The apps that come with the cards can help you track your spending in a clean and simple way, making you think a bit.

Best of luck and congrats on getting to a pretty good place already!

zippygeorgeandben

I'm sad for the OP reading this. I live in London and rent is extortionate but I just wouldn't want to move. I love the cosmopolitan make up of our city and it offers so much entertainment for no money (parks, museums etc,)
The money for your mum does need addressing though. You could potentially be paying £6000 for each year and than could be for a long time. You can't afford this. Have you looked into every single avenue here?
I'm really proud of you though for kicking the gambling. I've been through that.

fiisch

I would say you're doing amazingly well to live in London on your salary and afford to give £500 a month to your mum... fair play!

I don't think expenditure is the problem - you're obviously pretty frugal, and the cineworld card is worth it assuming you're going at least twice a month (it's a hell of a lot cheaper than going out for dinner, for example).

If I were you (and I'm not), I'd be wanting a higher income for living in London - if the pay isn't that good in your industry, consider a sideways step, but if you're working in Central London you should be able to command a higher salary in the not too distant future. I'd be investigating further qualifications/avenues to progress career to boost my income, as I think holding down your own flat and supporting your mum overseas on what you're earning is amazing.

Could the £25,000 in savings be working harder for you? Have you maxed the interest (could you afford the risk for S&S ISA)? Depends what you have in mind for it, but might help out (£25,000 could bring in an extra £100 a month if invested properly for example, but your capital would be at risk).

If not, can you max out the interest (Atom Bank for example for fixed interest account, or Santander 123 for 1% savings up to £20k, regular savers etc....)

Zoe185

I feel lik crying, thank you for the kindness, encouragement and advise. I'm happy i kicked the gambling habit that would have taken me down completely. Had a lightbulb moment when I thought of touching savings.

My mom is important to me, unfortunately where when lives there is no help for the elderly so its upto me. no not going to stop paying for her rather cut back on my my own for a while. She's hasn't had the best life just want to make sure she's taken care of.

I used to live in central london in a flat share the most miserable 5 years of my life. Was paying approx 600 then plus transport costs. I'm much more happier and at peace living alone.


A bit too scared investing in Stocks ISA, thought about it but risking this kind of money would make me fret. Ive been trying to research otheraccounts which will get me a better interest rate. Calculating on my current ISA I'm getting interest of 0.033% per month. Not sure how good or bad that is tbh