Realising the dream

Lifeofdreams

Morning all
I have just recently after many years of working in a stressful role reduced hours to part-time slightly less stressful role! As I approached 50,s I made the decision as there seemed to be no time for anything but work with no work life balance.

I was aware life was passing me by and leaving my job for part time very much less paid job has been both terrifying and life-changing!

Some friends/colleagues think I am mad but I have also experienced friends and people Il now dying young and this helped me take the plunge. As I had always been the higher wage earner our household budget has taken a big hit.

I also seem to have forgotten! That I am now on 60% less salary than I was!

My dream was to have more time to pick up the things I used to love doing -cooking, knitting, walking, seeing friends and family and enjoying the more.

I need to stop spending as if I was still on my old salary and save funds up for retirement. Luckily I have no mortgage but have had a lot of work to do in an old house we bought which has turned out to be an abyss that eats money!

It would be great if I could have an enriched life on far less money. Reading others diaries on here has been inspirational so I thought if I posted I may be able to get some support in being able to budget more effectively , save money whilst enjoying life.

I am also trying to restore my confidence and health which has seemed to take a battering recently.

Would greatly appreciate support on my journey.

jackieblack

Hi!
Congratulations! :T
I followed your previous thread and had wondered if you had managed to make the change and how you were getting on.

Like any big change, it’ll take a while to adjust. I expect there were things you used to spend money on for convenience because you were ‘time poor’ and/or exhausted. Now you will have more time many of these things will not be necessary. For example, you will have time to cook from scratch, maybe bulk cook and freeze meals for the days you are working, this will save you money. If you have been paying for help around the house/garden you might be able to reduce or remove this. You’ll probably find that you don’t need to buy as many smart/work clothes, and the ones you have will last longer because you are wearing them less frequently. Travelling expenses may be less too.

You might also find that, now you have more time, you can get more ‘hands on with your renovations which will reduce the costs. My ex-husband and I did up an old cottage years ago when we were first married and on a very tight budget, we did a lot of the jobs that didn’t require any special skills but were time consuming and it saved us a lot of money.

Depending on how recently you’ve changed your hours/role, you may not have had a pay day on your new salary, but remember that the ‘take home’ will not be a direct pro rata % reduction as the bit you’ve ‘lost’ will be the bit with the highest reduction from income tax and National Insurance contributions.

Have you sat down and worked out your new household budget based on your new income and expenses? That will give you your base line starting point for discretionary spending. Some spending may have just become a habit, but you can make new habits.
I found I spent a lot less when I stopped working in a town centre where I was walking past/amongst shops every day and ‘browsing’ in my lunch break. Now I walk to work in the village I live in and don’t pass any shops - I have to drive to the nearest supermarket and only go ‘into town’ a handful of times a year. Also, when I was working full time (and miserable) I felt the need to treat myself to things ‘because I deserve it, working so hard’ - stuff I didn’t really need. Now I’ll treat myself to an hour or two reading in the garden when I get home from work or a long lazy soak in the bath, much cheaper and much better for your soul than accumulating more unnecessary ‘stuff’.

I’m sure you’ll work it all out and in a few months you’ll wonder how/why you lived/worked the way you previously have for so long!

And there’ll be a lot of great support on here

lessonlearned

Hello life of Dreams,

Well done on taking the plunge. I was wondering how you were getting on.

I can guarantee you won't regret your decision. I am sure you will soon start to feel better, stronger and fitter.

I echo jackieblack you will find hundreds of ways to save money and str e e e e tch those pennies.

As for the home renovations I am doing exactly this. Doing as much as I can myself to save on labour costs, saving myself shedloads of money.

You will be able to shop wisely, not only just on food but also clothes, diy materials, free/cheap entertainment etc.

Your greatest asset now will be time and that is priceless.

Just ease yourself in gently and get well again. We are due some good weather this week so just soak up some sun and have a little rest whilst the weather holds. It will do you the power of good.

Good luck and keep posting. I will be reading and cheering you on.

PollyWollyDoodle

You won't regret it. I gave up a well-paid full-time job four and a bit years ago to become self-employed, and my income dropped by 2/3. I was very scared of taking the plunge but knew I wanted to change my life. I can honestly say that I have not missed the income, I am earning enough to cover my bills and a little bit more and I have never been happier.


As said above, you will have more time - batch cooking, grow your own, making your own clothes/renovating furniture, whatever you enjoy doing (and that word is key - this is supposed to be a good time in your life!) I adopted a very strict approach for the first six months - no coffee out, no magazines, shopping at the cheapest supermarkets and making everything from scratch. Then I relaxed a little bit. I still have a tight budget but I have managed holidays, renovations to the house, even buying a new car - I have been really surprised that I didn't miss my former income (and wish I'd spent it a bit more wisely when I had it!).



I haven't read your previous posts, you probably already have a budget in place, but if not that is absolutely essential. I use YNAB software but a spreadsheet will do the job. Good luck, you have some exciting times ahead and you will be amazed at how much fun life can be without spending a lot.

VfM4meplse

All these comments about no regrets will be true, as long as you have enough to cover your basic standard of living, and a nest to dip into for an occasional emergency / treat!

If that's the case, you'll feel so much better for the change. Quality of life is priceless.

bit_by_bit

I also agree with what everyone says. I was off sick for 8 months a few years ago. I had already downshifted spending thankfully. I was off sick instead of doing the world trip I wanted to do. The poimt is that I enjoyed my garden and allotment and seeing friends a lot more than I did work; and now can't wait to go part time in February.

So tighten the belt, look at what you spend and start reading these fab forums about living well but cheaply. I actually found a lot of inspiration in this forum, the Mortgage Free Wannabees and the Debt Free Wannabees. Their diaries on the art of making money and living frugal are amazing and uplifting. Especially when you are hitting a low point.

Finally, remember that going from working madly to living free and frugal is not an isntant achievement. Don't kick yourself if you have a bad spend day but congratulate yourself for all your wins. I keep an achievement diary because it is easy to forget the wins.

Good luck

Lifeofdreams

Dear Jackieblack, LessonLearned, Pollywollydoodle, VfM4meplse, bitbybit

Thank you for taking the time to reply and all of your kind words of support, advice and encouragement. It's been a tough decision to make and I do have days when I wonder what on earth I have done in terms of the reduction in income. However there is nothing nicer than having some more time. I am currently trying to settle into a new part time job which has it's own stresses but hoping things will work out for the best especially if I can manage a more frugal, simple and mindful lifestyle.

Have a great weekend all��

buildersdaughter

I assume that you are already on Freecycle / Freegle and similar sites? We built our own house (the 'daughter' bit is a family joke!). Our circumstances meant that we had to move on fairly quickly with everything - but I noticed that some of the stuff we put on Freecycle was being picked up by people like you, but who weren't in a great rush to get their work done. Indeed, someone of limited means in our village is still building his home, having taken 7 years so far, because everything is sourced very cheaply, including by bartering.
Absolutely agree about doing as much work as you can - we did. We used professionals where necessary - and one of those asked me if I wanted to barter my curtain making skills for some of his time. I had to refuse because of the timing.
Similarly, make sure you sign up for all the local newsletters, FB groups and similar, scour your local freesheet, and call in regularly at your library. All of those places have information that you can use, and contacts that you can make.
As for living simply - you will find your own level. Good luck!

Lifeofdreams

Morning all

Hope everything is going well. I am in the process of working out my budget /goals for simplifying and living a more frugal life. I will post my goals once I have thought them through more fully.

As per my OP I have gone from a role with lots of responsibility and pay to part time work with different responsibilities. This is taking some adjusting too in terms of income, settling into a new role and feeling like the newby who knows nothing!

There is also the feeling that you don't know what you don't know! Altogether feeling quite stressed and anxious about this at present as I do want it to work.

I have been much more aware of my spending this week however think I will start to budget using the envelope system.

Have been revamping the garden and feeling pleased that I have managed to divide some of the plants to grow in other places for free.

I also have some items of clothing and a bike to sell does anyone have any idea where is the best place to do this? Is Ebay still a good way to do this?

joedenise

We tend to use the Facebook selling pages as there are no charges and people collect from you so worrying about postage.

Denise

Mrs_Salad_Dodger

Good luck Lifeofdreams - just remember to take it slowly