How much to live on

Organgrinder

I've been thinking about how my own "how much to live on" has changed given my hobbies and interests.

Most of my outgoings have been relatively stable for 2 or 3 years. Except for food, council tax and holidays.

The latter have doubled in 3 years. Holidays I used to be able to get for £1,500 are now £3,000. 

Thankfully we have threads like this where people share how they've made their money work for them. I find it fascinating and extremely useful at the same time.

Obviously some people are more rigid especially in terms of incomes and outgoings. But for me, maximising what I can do with my various income streams is a priority. After all, we're only here once.

Indeed I shared a private message with someone earlier where stoozing etc has put me in a position where I could be around £10k better off come retirement. That's probably a holiday of a lifetime for me and Mrs O. 

As ever, grateful for the advice on this thread and elsewhere.

louby40

I love reading about how everyone stretches their money (in whatever way) and if it's not relevant to me I just scroll on by.

In other news..... I have 3 days left in my school. I've been there for 24 years and teaching for 29 years. Thursday is going to be very emotional but I'm so ready to move on now.

Secured my self a job too last week! Just a part time role that will top up my pension. Looking forward to new experiences and adventures and already have some planned trips that are NOT in school holidays! Now there is a saving 😊

Organgrinder

louby40 said:

I love reading about how everyone stretches their money (in whatever way) and if it's not relevant to me I just scroll on by.

In other news..... I have 3 days left in my school. I've been there for 24 years and teaching for 29 years. Thursday is going to be very emotional but I'm so ready to move on now.

Secured my self a job too last week! Just a part time role that will top up my pension. Looking forward to new experiences and adventures and already have some planned trips that are NOT in school holidays! Now there is a saving 😊

Best wishes in your new adventures.

In our profession some people are a huge loss and I'm sure you fall into that category.

LL_USS

@louby40 good luck this Thursday and have a great time in your new pasture afterwards!

oceandreamer

@louby40 just wanted to wish you a long and happy retirement.  I never really understood that term second childhood until I  thought about what I would want retirement to be like - very little responsibility, long days that I could choose exactly what to do with, time for hobbies, interests, learning to do new things, meeting new people, exploring new places and no daily grind of a routine - just like childhood again, sounds like bliss.  Hope you enjoy every moment louby40 anyone coming out of education nowadays has certainly earned it!  

Smudgeismydog

louby40 said:

I love reading about how everyone stretches their money (in whatever way) and if it's not relevant to me I just scroll on by.

In other news..... I have 3 days left in my school. I've been there for 24 years and teaching for 29 years. Thursday is going to be very emotional but I'm so ready to move on now.

Secured my self a job too last week! Just a part time role that will top up my pension. Looking forward to new experiences and adventures and already have some planned trips that are NOT in school holidays! Now there is a saving 😊

Huge congratulations, and very best wishes for your next chapter

helensbiggestfan

Louby40 

Congratulations on your retirement. May it be long, happy and healthy, full of everything that brings joy.  And good luck with the new job. 

Oceandeamer - I love your analogy of retirement being a bit like a second childhood. Reminds me of the the tv programme "Last of the Summer Wine". Lol. And yes, for me, retirement is indeed bliss.  It isn't what I anticipated because obviously I have had to shift my expectations thanks to widowhood but, nonetheless, I have managed to build a life that makes me happy. 

I often describe my own retirement as being on a permanent holiday but with all the comforts of home.  No commuting, no timetables or routines other than the ones I create for myself.  I never did particularly enjoy the tyranny of the 9-5. Lol. I love the total freedom. And, despite having to adjust to the loss of my husband and a reduced income I am happy and content. I do worry about the future for my kids and grandchildren but that's another topic.  

My personal mantra is "Not done yet". The house move has taken up most of the last year or so, so I haven't bothered with holidays or travel or new adventures,    However, these last  few weeks has been as good as any Mediterranean holiday, enjoying my garden but without the stress and hassle of travelling. Perfick.  No beach of course, living so far inland, but that's no real hardship. 

Not much actual gardening, more a case of just pottering and enjoying what I have for now.  Its just been too hot and the lack of rain has been a real impediment to making any progress. I am glad I didn't rush to plant trees and shrubs, they probably wouldn't have survived. I have noticed some mature trees in the wood opposite my house are looking a bit stressed, I've spotted some leaves turning colour already, I guess the trees in question have gone into rest/survival mode. 

I did something similar when it was very hot, resting when necessary to conserve my energy, and enjoying my siestas.🤪. 

Have made a start on the house.  My handyman has put together some flat pack bits and pieces I bought to address the lack of storage here, so I have been busy unpacking a few more boxes and getting organised, decluttering as I go.  I do need to do some serious decluttering and i definitely need to do a Swedish Death clean of my paperwork but that can be a winter job.  Same with decorating etc.  discussed timescales with said handyman, aiming to make a start Sept/October.  

It's all good.  I can definitely recommend retirement. 😁

helensbiggestfan

Organgrinder. - £10k from stoozing is seriously impressive.  Well done. 

Organgrinder

helensbiggestfan said:

Organgrinder. - £10k from stoozing is seriously impressive.  Well done. 

Not just from stoozing......to cut a long story short when I first started looking at my figures I was going to work till 61. Then realised I could go at 60 and by age 67 would possibly be able to get there without touching my pension pot but using up all my savings.

Gradually through stoozing, switching utility providers, mobile phone network and using things like Topcashback, my forecast has changed to still having £14k in the bank even AFTER increased holiday costs than originally budgeted for.

My how much to live on figures have changed a fair bit over the past two years and in the words of Tesco, every little helps.

helensbiggestfan

Indeed every little does help.  All part of the "Compound Effect".  Small steps taken consistently will, over time, yield big results.  

Suffering from dyscalculia (a sort of number blindness similar to dyslexia) I failed GCE Maths 3 times.However without wishing to appear conceited I think it's fair to say I am not intellectually challenged and I eventually learned how to circumvent a lot of the issues that dyscalculia has caused. It just took me a while to get to grips with certain mathematical concepts, some I still don't fully understand.  I only understood BODMAS very recently.  And that's only because I learned it from you tube videos. 🤣😂.  

It took me a while to appreciate the value of the Compound Effect and how it doesn't just apply to interest but how it can also be used in just about every area of our lives, finances, health and fitness,  building relationships, acquiring skills, just about anything really, including and especially, achieving goals and making dreams come true.  

You have done really well. You looked at your finances and saw how they could impact your dream of early retirement so you set to and took the necessary steps to make that dream come true.  So again, well done. Give yourself a well earned pat on the back.  

I think most of the contributors to this thread have a similar mindset. We all want to live the best lives we can with what we have, and if we can find ways to increase our wealth then so much the better.  I particularly like the fact that so many contributors have shared their stories and are happy to spread their knowledge and expertise, sharing money making tips, and what has helped them on their journey to retirement. 

I'm a great believer in self help and, although I'm a bit slow on the uptake with technology, I have come to appreciate the good that the internet can do.  Yes it has a dark side but it is a remarkable tool for disseminating knowledge and helping to educate us, even helping me to fill in the gaps of my poor maths education.  

The blessed Martin Lewis (All Hail) lol and this site he created saved my bacon when I was facing bankruptcy and staring into the abyss.  The help I received from contributors to these forums guided and helped me turn my finances round. It's a wonderful FREE resource and for the most part it is peopled by generous and kind contributors.  

I don't read every single thread on these boards.  If the threads I do follow sometimes discuss matters that aren't pertinent to me then I tend to just read quietly and not comment.  The topic might not be relevant to me, especially if it's not part of my lived experience, but obviously it is of help and/or interest to others and I often learn something new  

Isn't that what this site is supposed to be about, helping and supporting each other and learning as we go. .