First Steps to Solvency

RelievedSheff

Bargainhunter30 said:

I'm trying to do clean eating atm, went cold turkey on the bad stuff for a month, then Christmas happened! Now trying to limit junk food to weekends (doesn't always work but feel better for trying). Maybe you can do the same with alcohol when you're ready to re-introduce, then you know you have control over it and not it controlling you. Obviously wouldn't reccomend this approach with the other stuff 😂

Calories don't count at the weekend   

enthusiasticsaver

Junk food just makes me feel sluggish but we do like some extra special meals and a few glasses of wine/beer or gin and tonic at the weekend although now we are retired it does not have the same feel as when we were working.  I just try and cut out snacks, eat healthily 90% of the time and weigh in on scales regularly to keep on top of my weight. Never do desserts apart from yogurt at home . Sometimes indulge when eating out when we can do that.  

ryanm8655

alt80 said:

@enthusiasticsaver Son !!!!!! about in playground so did get out in the end got away from the numbers. Def will put up tonight - bit of an eye opener but helped me to plan coming year 100%. Loving that side of the debt payback life yeah 100 a bit of a !!!!!! know that much ha. The lists / reminders, parking the BS makes my mind clearer and a lot more level on the emotions FML only took me until I was 40 to work that out. As I say always have been a bit slow, sister was the clever child those extra brain cells def passed me by and I probably decimated what I was left with all by myself.

@ryanm8655 I’ve not made a date, taking it one day at a time mate see how I feel on the day. As you say would be soul destroying otherwise lol. Not even made the promises re the other stuff this time, no intentions to start that again tbf but just dealing with each day. Parking it if I do fancy it, no reminders in my phone like the wish lists though lol. Genuinely in a place where I hope I don’t touch it again but the promises never worked, just park it and hope I carry on doing so. 

Ha with your background/ profession I bet you’re !!!!!! cringing at my efforts on the number crunching mate ha. Honestly I’m a bit embarrassed putting it up on here as I’m aware there are people like you who got a bit further up the chain than making a living from measuring sheds, always up for personal growth though - never learn anything if you don’t try haha.

Not at all ha! My budget spreadsheet is an absolute mess Naturally I’m messy and disorganised so any personal spreadsheets are a mess...have had to overcome that for work ha. Also helps I can now get other people to do the actual modelling for the most part and just help them figure out the logic/advise on issues etc. Ha. 

alt80

@Nicnak / @RelievedSheff sounds like you’re both pleasantly surprised with where you are right now and looking to the future too. 100 the right attitude to it there imo.

@Bargainhunter30 ha that was my exact approach to the other stuff for many years, not sure was always in control of it though lol. That’s my plan with the drinking - Friday, Saturday, Sundays only and be sensible with the quantity - can’t do that something a bit more wrong than I thought ha. 

@RelievedSheff😆 FML who knows might be trained in how to use the disto next week like I say always working on the personal growth - will truly be bossing it then mate 100%.

Calories at the weekend definitely !!!!!! counted here. It’s expensed calories that 100 don’t count lol. 

@enthusiasticsaver genuinely dread the day I’m too old to do the day job so probably never going to understand you not even being decrepit and not working mate sorry.

I hear you 100 re eat sensibly 90% of the time though and also get lethargic after eating junk food. Tbf if I wasn’t married I’d probably be a fat !!!!!! cooking something !!!!!! stupid like a roast chicken for one and on the takeaways even though I don’t enjoy them just cba a lot of time.

@ryanm8655😆😆😆 real question is how the !!!!!! did you even end up in the career you’re in mate? Makes no sense ha. Mind, back when I was employed I was 100 the sad !!!!!! who spent the spare time developing units and living like a !!!!!! Victorian for the sake of a bit of profit. 

Sun_Addict

You could download an app to track alcohol units if you’re concerned about going mad. Then you can be sure you’re not going over your limit.

enthusiasticsaver

alt80 said:

@enthusiasticsaver genuinely dread the day I’m too old to do the day job so probably never going to understand you not even being decrepit and not working mate sorry.

Well it is good you enjoy your work.  We did too  until we didn't and as we have said previously maybe it is because it is your own business that you cannot see a day when you are not working.  We never wanted the stress of running our own businesses and wanted the security of the paycheck and the sick pay and the paid holiday, pension etc etc.  Probably really boring to you and we did enjoy our work until the last three or four years of our working life so by 58 we could not wait to leave. 

I changed career once when I was no longer enjoying banking and my husband changed from a UK company to a German company when he could see their products/service/career opportunities were better.  As management changed though and working practices we found that both our employers expected more and more for no more pay and a lot more stress so as we could afford to retire early we did and have never regretted it.  I am fitter now than when working as I have more time to exercise and the energy, we can drop everything and go out for the day if the weather is nice, we have time to spend on hobbies which when working went on the back burner because it was work during the week and housework, shopping, family commitments at the weekend. Socialising under normal circumstances is something we can do more of whenever we want as we can with travelling and we have had the benefit of spending a lot of time with our granddaughters as they are very young and hopefully putting in the building blocks for a good relationship with them as they get older and have other calls on their time. The crazy thing is that our income is more or less the same as when working due to our investments/pensions  built up over a long period of time and very little by way of essential outgoings as we have no mortgage so we are not restricted in our lifestyle. 

I know you have always said you can not face being retired and tbh we did not think of it at 40 either.  Too busy with work and children and enjoying ourselves.  But most people do get jaded by it by their mid 50s, some even earlier so it pays to put some plan in place just in case you change your mind.  You have a business to sell if you do ever change your mind so maybe putting some things into practice for a life outside of work would help your mental health too like hobbies or interests outside of property.  If money was no object I can see you with a fleet of cars and driving out in a different one each day if you had the time.  That is what retirement gives you.  Time.  Also it does not have to be all or nothing.  You can step back for a day or so each week providing your drop in fee earners does not affect your lifestyle.  Or move to passive by investing instead and relying on BTL.  The world is your oyster.  Retirement need not necessarily mean idleness, it just means you have options to do what you want instead of what you have to do. But if you want to carry on working until you drop then fair play to you. I think you are unusual in that respect though. 

getmore4less

With a bit of work the business won't need to sold off, not there yet but potentially quite close if the personal income stream is mostly replaced by more fee earners.
We are not looking at sole trader or single person Ltd where the one person is the company you build around yourself a sustainable environments

@alt80 can then let it run itself, watch over it  keeping it sustainable while the income keeps coming in 
I think he said he could do a 3 day week so could be 40% retired already.

alt80

@Sun_Addict I have done on your advice. Made me realise how much I did used to drink FML forgot wine is measured as 125ml haha !!!!!!. 

@enthusiasticsaver Iswyacf possibly the difference as you point out I don’t really have any interests outside of property and paying my debts off and I don’t really think paying my debts off counts as an interest ha. Interests pre becoming a teetotal saint were pretty lame tbf basically driving/ shopping/ nights out def not worth spending time away from property for lol.

@getmore4less that’s def my plan when I’m old mate 100%. Tbf putting the effort in now to get it there - if I can take from it what I take now passively + still do fee earners might one day be rich haha.

alt80

Some help needed with this please - I have done this around 11 times in total, went out for a 15 min walk and still coming up with the same figures - it's the not keeping BMW figures that feel completely wrong but I can't see where they are?? Basically saying end of Dec '26 I'd have £79k saved hahaha FML (no savings interest accounted for or what I'd really do which is never take the income in the first place - keep the surplus in retained and reinvest). 

Income is assumed to remain static and new debt is assumed to be accrued on a 0% basis (never really had trouble getting 0% deals before but appreciate the landscape can change so this could be a little BS).

Keeping BMW                               

Mar-Dec 21                     

Income £80,500                                          

Expenses £87,790 (Incl. living exps (as budgeted for in monthly/ yearly budget), cars & £15,995 debt payments)                

NEW DEBT TOTAL £7,290            

                                          

Jan-Dec 22                       

Income £96,600                                          

Expenses £99,005 (Incl living exps, cars & £15,665 debt payments)

NEW DEBT TOTAL £2,405

             

Jan-Dec 23                       

Income £96,600             

Expenses £107,405 (Incl. living exps incl 2 months BMW payment & 10 months BMW costs - £430/m finance, 12 months RR payment £19k BMW balloon & £2,405 debt c/f)

NEW DEBT TOTAL £3,845

                            

Jan-Dec 24                       

Income £96,600                                                        

Expenses £144,460 (Living exps incl BMW running costs, 4 months RR payment & 8 months RR costs, £48.5k RR balloon & £3,845 debt c/f)

NEW DEBT TOTAL £47,860         

                                          

Jan-Dec 25                       

Income £96,600                                                        

Expenses £111,400 (Living exps inc car running costs & £47860 debt c/f)

NEW DEBT TOTAL £14,800                        

 

Jan-Dec 26                       

Income £96,600             

Expenses £78,340 (Living exps inc car running costs & £14,800 debt c/f)

SAVINGS TOTAL £18,260              

DEBT FREE JUNE 2026

 

Not Keeping BMW                                      

Mar-Dec 21                     

Income £80,500             

Expenses £85,430 (Living exp inc x6 BMW payments and running costs, cars & £15,995 debt payments)

NEW DEBT TOTAL £4,930             

                                          

Jan-Dec 22                       

Income £96,600             

Expenses £89,565 (Living exp inc RR finance and running costs & £13,305 debt payments)             

SAVINGS TOTAL £7,035  

             

Jan-Dec 23                       

Income £96,600             

Savings (c/f from ‘22) £7,035     

Expenses £76,260 (Living exp inc RR finance and running costs)

SAVINGS TOTAL £27,375

                                          

Jan-Dec 24                       

Income £96,600             

Savings (c/f from ‘23) £27,375   

Expenses £115,000 (Living exp. Including x4 RR, x8 RR running costs & RR balloon £48,500)

SAVINGS TOTAL £8,975     

                                          

Jan-Dec 25                       

Income £96,600             

Savings (c/f from ’24) £8,975

Expenses £61,620 (Living exp including RR running costs)

SAVINGS TOTAL £43,995

 

Jan-Dec 26                       

Income £96,600             

Savings (c/f from ’25) £43,995

Expenses £61,620 (Living exp including RR running costs)

SAVINGS TOTAL £78,975 DECEMBER 2026 / £61,485 SAVINGS JUNE 2026 (Debt free date if keeping BMW)

alt80

Got through Day 31. Full month free of substances which I'm buzzing about tbt never thought I could do it! Tonight has been a bit weird altogether, had an absolutely massive dopamine rush doing the figures 100 the BMW free one that started it, no doubt someone will be along to burst my bubble soon haha but I've basically been high on number crunching tonight. Yeah I can be a bit of a 'speshul case' don't need to be told I've got some serious !!!!!! issues to address. Wife probably will seriously be looking for another bloke end of lockdown if I'm up all night wired on a !!!!!! spreadsheet rush ha.