A question about : Only freedom will do
It has come to my attention that I have been here for a very long time 
I joined these forums in a dim and distant past, where money was my enemy and the weight of my student debts left me crushed and panicked, unable to picture a future where I would be able to get a debit card (never mind a mortgage).
5 years later and the milestones of marriage, first home and first car have come and gone. Throughout it all, I have had a creeping feeling that something wasn’t quite right. I don’t get the world of work, and while I’ve never been unemployed in my adult life, I’ve tried too hard to try my hand at too many things and I’m left feeling like I’m an actor who recognises the play, but does not understand his motivation.
As some of you will know, I have experienced some real heartache of late. Your messages of support and hope have been so touching and in many cases, I have got more comfort from anonymous individuals who took the time to get in touch than people I know in the ‘real’ world.
While money would have done nothing to prevent it, the luxury of savings and our hard work over the years meant that we were in a position to make the right decisions and take our time with our next steps. Returning to work has been a real blow and without sounding even more melodramatic, I don’t think I’d realised just how damaging I find the merry-go-round of rote work, office politics and bureaucracy.
It won’t do, I can’t believe that this is as good as it gets and to quote one of my favourite singers ‘We can always build a world better than this’.
From this point on, I plan to dedicate myself to achieving financial independence. Not MFW, but freedom from all the nonsense that we go through to just to pay for a pile of bricks and a few years of leisure at the end of our span.
Hopefully you can join me for the journey 
Best answers:
- Well said edinburgher!, Sorry to hear of your heartache, however you have a brilliant positive attitude well done!
Edinburgher in Glasgow? how's that working out for you? - God bless you and all who sail in you E.
What plans? And why has it never occurred to me before that you might have a Scottish (Scots?) Accent?! - Sounds a fabulous idea, do you have a plan? and a timescale in mind?
- Sounds like a great idea - had a really rough week at work and just read this - will be following your journey!
Hope all the heartache heals with time and focuses you on where you deserve to be!
Good luck x - Hi Ed
Good to see you back
I am with you - freedom is the ultimate goal.
It was always my aim to stop working at some point before my state pension age.
I paid in AVC's, and saved money..... but I wish I had my current level of focus 20 years ago. Or I wish there was such a thing as MSE MFW 20 years ago
Hindsight is a wonderful thing, and I kick myself when I think of financial improvements I could have made in previous years.
But, my goal is within reach, so it is do-able, even if I didn't always do the most MSE thing. You have youth and determination on your side, so I think you'll be successful in your quest.
I'll be with you all the way - Get ready for another essay
I have been reading a lot of personal finance books and blogs. For whatever reason (cheap land?), our American chums do finances entirely different from we Brits. - US = buy a cheap house, invest in the stock market
- UK = buy an expensive house, sell it and buy a more expensive house, sell that and buy a finca, be scared of the stock market
- Create a new SOA
- Calculate 'our number'
- Start tracking all expenses from next payday
- Cut expenses
- Add the average spare money in our accounts to savings each night (i.e. Ј100 left, 10 days until payday, Ј10 into savings)
- Increase my income, MB will probably work out quite well for this, also have Mrs E MB now
- Find a job that doesn't suck
- Do the same with my Freedom Fund
- Move savings into the ISA each time they hit Ј100
- Rinse and repeat
- I have decided that I will do a weekly update to keep myself on the straight and narrow, with a more detailed update at month end. Before laughing at the very small figures below, please consider that we a) topped up our EF by several thousand pounds over the last fortnight and b)decided to do this two days ago
Figures are for potential monthly income with a 4% withdrawal rate.
Weekly savings: Ј92.47 + Ј140.22 * (4%/12) = Ј0.76
Weekly investments: Ј0
I'll probably do ISA vs. mortgage, income from pension age etc. at month end, as well.
Currently drooling in a money nerd stupor... - Grand to see you again Ed, you've been in my thoughts Stonking first post btw, have you thought of a career as a writer?
I'll be with you too, hoping for all good things coming your way - Hi Mr E, sounds like a sensible plan and I too wish I'd been that astute 20 years ago.
Good luck, Tilly x x - Wonderful first post and I think you sound so focused and determined. Know you'll do it, and looking forward to the updates!
- You know how life imitates art? My parents have just bought a small house in the Canaries
Just as well we haven't booked a holiday yet
Today I took some small steps towards freedom. Budget has been re-jigged (I'm still posting that SOA for you all to pore over like the wonderful MFW hermits that you are). I cut Ј50/mth from the Emergency Fund, as I re-calculated it and without the car replacement line, we're actually over-funded. In addition, we won't need to top it up for inflation at the end of the tax year.
As well as that, I completed a small survey and listed our hardly used KitchenAid on eBay. It's a lovely machine, beautifully made, but we've maybe used it 10 times since we got it. I don't think that Ј20/use is a fair price for a mixer, so it has to go. Fairly hopeful that we should get c. Ј200 before fees and postage for it, as it's in great nick.
Finally, made a small MB profit (Ј5 or so) and set up a monthly investment into Vanguard LifeStrategy 80% in my ISA. Just Ј50, but it's easier to top up an account with a DD already in place.
Other than that, having a relaxing dinner of salmon, roast Jersey royals, British asparagus and carrots with Mrs E. A beer may sneak it's way in as well, jogging tomorrow
Happy weekend all. - I love a kitchenaid. Still using a stick blender from when they first came on the market though.
- Just wanted to wish you well with your new plans . I am looking forward to reading how you get on.
Maybe a silly question , but what is 'MB'?
In terms of work, I do hope that you find something you want to do soon. This week in work has been horrendous, mainly due to the atmosphere and office politics that is going on. After this week's events I have now come to the point that I can't continue in this environment for much longer and need to change, so I am making plans to do this.
I am trying to build up my Savings as much as possible and reducing all the Savings 'pots' that I have so that I can maximise the Emergency Fund as much as I can . I would love to be able to have the confidence to invest more money but wouldn't know where to start. The only thing I have (other than Savings accounts) is a Stocks & Shares ISA. - Actually I dont understand a lot of it either.
- Hi Ed, great to see you back. I shall be cheering you on from the sidelines
Pap - Me too. Never dabbled with investments, burnt by endowments so always intrigued.
I think that the recent budget has made it possible for Brits to move away from their innate obsession with house prices and build wealth in a meaningful way through investments that don't have a front door key
We have a home with a reasonable and growing chunk of equity, I don't see any pressure to overpay it just because it's a debt. Personal finances need to be managed holistically, and at this point in our lives, it's already more beneficial to save than it is to repay. Investing should hopefully trump this further.
We now have a fully funded Emergency Fund (more than 3 months of all expenses). Money from this point will be saved and invested, in low cost index tracking funds. I'm expecting quite a bit of volatility, Mrs E supports the plan.
We would still like to move house at some point, but this will probably be on a very long mortgage at as reasonable a rate as we can find. I'm aware that we're in a historically bizarre period of low interest rates, this isn't set in stone. Life is full of choices and I will no longer apologise for changing my mind.
So, next steps will be:
As a meaningful start to living our lives both for today, but for an incredible future, I've removed our budget line for a car replacement. We'll move to a car club as and when this car dies, or buy a banger.
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