Laying it all bare

I wasn’t planning on being so open in all honesty, but if not here then where?

Following on from my previous post about losing my job, I am not going to specify any particulars in terms of money as until I get another job money is going to be extremely tight and we are going to have to frugal our arses off to cover everything. When my notice period ends we will be looking at a £500 monthly deficit until i find another job, so expect a fair few posts about making more money and cutting costs! Irrespective of that I am going to post a monthly statement to show how things are going.

Pay off debt – Our debt currently stands at £10277 (not including car finance)
Save 5k emergency fund – Starting at absolute zero! Waah!
Build investment portfolio – We already live quite frugally anyway so we have estimated our annual living expenses to be at around 12,000. To have this sort of income without conventional working would require an investment pot of around 300,000. Currently we both have very small work place pensions but it’s a start!


On a more personal note
Write at least 3 blog posts per week
Read at least 6 financial books a year (from the library, more money savings!)
Post at least two money saving meal recipes a month – we are big fans of making one big meal that lasts 2 days which really helps the pocket as well as being perfect for those long days at work. The Other Half would always say they want a takeaway when we’re too tired to cook but it’s all money, not to mention the fuel to pick it up (no delivery available out in the sticks)

That’s all for now but enough to give me a focus on what needs to be done.

Our main monthly outgoings are

Rent – £675

Car Costs (finance, insurance, fuel etc) – £650

Food and general groceries – £220

Plus the metric F-ton of debt

I love reading Personal finance and FIRE blogs, but i have yet to find anyone who is starting from below zero. We are not high earners and already live without excess. We dont buy coffee on the way to work, eat out rarely, dont have sky tv or its counterparts. If any of you are in the same boat please say hello! I have yet to find anyone in our situation, but gosh-darn-it, we will still get there, just you wait and see.

Being in debt is bad enough but being faced with a huge monthly deficit is downright terrifying. I have some interviews already lined up so fingers crossed but if we are to get out of debt and towards financial security then things have got to change. And change they will.

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4 thoughts on “Laying it all bare

  1. I want to wish you the best of luck on your job search and know you you can get through this. I am still fighting an uphill battle and publicly writing about it like you. It helps to do this and it motivates you to get through these hard times.

    You have a solid plan and it will take a lot of determination, but you can do it.

    1. Thanks Rob, The main reason that I started this blog was to let anyone in a similar situation know that they are not alone and that they can take control of their own finances.

      Being in debt sucks and it can sometimes feel that life isn’t giving you lemons but actually throwing lemons at you!

      Budgeting, planning and prioritising is key to destroying our debt

    1. Without a doubt, the only thing that holds you back is yourself!
      Thank you for your support Capn!

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