Going on Holidays

I thought it would be nice to make a short post while chilling in the lobby of my hotel during the final day of my lads holiday outing to Amsterdam. It’s lovely just to sit back on a nice sofa with gentle music playing. Watching people and the world go by… it feels like it’s been hours already but that’s another side effect of being in the dam :D.

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Pre FI Aware Days 

Some of my most fondest memories come from going on family holidays when younger. The feeling of just being on holiday where most of your daily worries can just be parked or put on hold for a week or two. It’s interesting when your entire surroundings change for a period of time. I love that nothing NEEDS to be done but there are always things to be doing on holiday even when that includes specifically not doing anything at all. I used to look forward to my yearly big holiday which included Florida or New York at the time. I would spend a fairly large sum of money and take lots of spending money too. I usually paid for the holidays in full on CC and then would pay them off over several months. 

Since learning about FI

I for the past few years have gone to European destinations at least once a year. I always look for a good deal, go on a weekday etc. I certainly have not lost the joy of looking forward to and of being on a holiday but the days of multi thousand pound holiday are things of the past for now. I much prefer to go to 3 star if I can help it rather than a 4 or 5 although right now I am sitting in a 5 star lobby due to an irresistible deal… To try and be as efficient with money as possible though – I use a Revolut card so I can get the best travel currency exchange rate and withdraw from cash points without being charged (£200 limit a month). I get travel insurance for like £5 online and I don’t waste money on drinks/snacks that are charged at ridiculous prices. I find a supermarket and get better priced goods or simply take bottles of water out with me to help save.

I am certainly not a complete spendthrift though. I enjoy eating out, paying for experiences and activities out. I had a Chinese massage and speedboat ride earlier.. I did the speedboat road first hehe. As of now, I still have only spent £250 over 5 full days though, so not bad. Money well spent for me. Maybe what makes these holidays even easier for me to justify is that they are still coming out of my matched bettings winnings and the next 4 or 5 holidays are already covered :D.

Local trips & Staycation

I have recently been going to more places in the UK itself and have recently gone on many day trips to Liverpool and Manchester etc. I definitely don’t need to go abroad just to have a good time. I have had many staycations during he last few years also. It’s interesting how sometimes I get a strange reaction from people at work when I tell them I am not actually going anywhere on holiday but simply am having a staycation. I even had a two week staycation a year or so ago where I wanted a 2 week kind of trial of being FI to see how I would find it – it went well albeit two weeks simply being used mostly to relax from having worked for so long.

So do you all still go on holidays? Have you reigned it in completely or do you still have a guilty pleasure of a traditional holiday that can’t budge?

Chris – The FI Journey

Escaping the Rat Race

There are many people who are pursuing FI almost solely it seems to escape the so called ‘Rat Race’. I am sure we can all relate to this in some way ourselves as work isn’t usually a place we go to beaming with energy and excitement looking forward to another day. Fridays don’t tend to be the most depressing day with Mondays being the best due to us having a whole week of wonderful bliss fueled work ahead! I have read so many FI forum posts over the years of people dreaming of never having to work for their awful boss anymore, no more long traffic filled commutes, no more office politics, no more writing TPS Reports! The list of things at work which we despise can be long indeed and being able to escape these things can be a huge motivator in striding towards FI.

You apparently didn’t put one of the new coversheets on your TPS reports – Office Space Movie quote

Despite work not being perfect and still providing frustrations at times, I  have definitely changed my views over the last few years as I have been in both a really bad job and now find myself in a really good job. This post will discuss my ever evolving thoughts on Escaping the Rat Race.

Work before FI

Its interesting trying to remember exactly how I viewed work before I started on this path to FI. I had only been working for 4 years from the age of 23 as I finished Uni at 22 and then had a gap year. I got into the FI world as it were at 27 so I hadn’t been working for very long without having FI as an ultimate future possibility. I do recall not feeling like rushing into work which is exactly why having 3 months off after graduating from Uni turned into 6 months and then finally into 1 year. I remember thinking that I will be working for the rest of my life so why rush, I have earnt a break after working hard (I was never one to leave assignment of the FYP (Final Year Project) till the last week or few days before hand in :D…. oh no wait, that was me!).

I think at this time my priorities were more on things that were happening at that moment. I certainly didn’t think about retiring early or that I might be able to do so. I was just like everyone else it seemed who used a credit card for certain stuff, my monthly money came to an end before the month itself usually so the last week was usually tight. I really needed that money to go in on pay day and it was a relief. I did feel under more pressure at work because of this bigger reliance on needing the cash and being hit negatively so quickly if I didn’t have it. Work was just something we all HAD to do for money we DESPERATELY needed.

Work in the early FI Days – The Bad Job

A big driver of my initial interest in FI was to escape the rat race. I loved to read articles and stories of people who needed to no longer work for an income. Work really was something I disliked. I had an awful boss who was very nasty, there was a really bad work atmosphere because of him. We had unmanageable work loads where it felt like you was setup for failure because in doing something, there would always be something you wasn’t doing that would be highlighted. The thought of being able to escape this situation was just awesome. The idea of FU money seemed to appeal more when having an awful boss.

Continue reading “Escaping the Rat Race”

Depriving yourself whilst on the journey

When I was working at my previous place, I had a conversation with a work friend of my mine about Financial Independence. This came about because he was talking about how he had just come into a fair sum of money (£10,000) and he was not sure what to spend it on. New car?, Las Vegas? He really didn’t know what to do with it. I chimed in and said well why not invest most of it and treat yourself to something with £1,000 or something.

The conversation progressed and we spoke about it a few other times. Now at this point, I was fairly new to all of this FI business and was hooked on learning more and enjoyed talking about it more openly. I told him that with my current savings rate and a fair wind I could stop working in 23 years time at 50 and all my necessities would be met – £1000 a month with house owned. I didn’t tell him I saved over £1k a month but he could tell it was prob close to that, he was shocked… shocked that I would sacrifice so much fun, joy, entertainment for some future in 23 years time that might not even come and when it did just to live on  basics covered only. He proudly said “Live for now man, spend now while you’re still young and healthy”.

Live for now or later

This idea that I might be depriving myself wasn’t something new to me. I had heard it many times on forums and comments on certain blogs. There was a dichotomy set up of live for now OR live for later. Below are common things I have heard online, in real life and that I have come up with when thinking about it:

  • You’re only young once
  • Stop sacrificing your happiness now for future happiness that might not come or not even be what you thought it would be
  • You could lose all that money, if you spend it on doing things then you will actually get use out of it
  • Stop living your life on fast forward, why do you want to race to being older. It’s like you are racing towards the box.
  • You won’t enjoy your money as much when you’re older
  • You are restricting your life far too much
  • In short – you are depriving yourself

Am I depriving myself? Am I living my life on fast forward desperate to get to future FI. Now I think these are great questions and it’s easy to simply say no, of course not! and be done with it but there often can be some truth in the general view that you could be depriving yourself in the here and now whilst on the journey. I have certainly come to see this with myself. 

Examples of my deprived life

  • I could go on several holidays a year all around the world with many weekends away (Paris & New York even would be on the table every now and then)
  • I could own a Mercedes car, even a Porsche if I wanted instead of regular basic car
  • I could buy £200 jeans and have a full wardrobe of designer clothes but I buy from Sainsbury’s or Tesco instead
  • I could have all sorts of gold chains and expensive watches but I don’t
  • I could have a 70inch TV and buy new technology and stuff for my house almost every month. 
  • I could buy Sainsbury’s tase the difference or Tesco finest selections on all my food. I could eat like a king!

Continue reading “Depriving yourself whilst on the journey”

Keeping FI a Secret

So… my first blog post topic is going to be on whether or not you should keep FI a secret. What exactly should you tell friends, family, random people on the street and things to consider if you do. It’s worth mentioning again before I start, that the whole point of this blog is simply to share my thoughts on something and what I currently do in order to create a discussion with all of you in the comments, I certainly will never preach or say that my way is the right or only way that’s for sure. Right then on we go…

This blog – 4 Years in the making

As I mentioned in the introduction post, this blog has been in the making for the best part of 4 years. I have swung between wanting to create a site when I feel I have something to say on an FI topics and then to deciding against it because part of me wanted to remain completely anonymous in my FI pursuit. I didn’t want to bring undue attention on myself and possibly have the blog linking back to me so my work colleagues or family find out about what I’m up to. Now this is assuming that this blog to start with will become popular which I highly doubt or that I might leave it logged in somewhere and then someone will recognise that it must be me based on the similarities they spot etc. 

Why I don’t like sharing my FI pursuit

It boils down to not wanting people to know I’ve got a large amount of money. My reasons why are:

  • People being jealous and envious of my situation which I have seen first hand with others I know who have money

Continue reading “Keeping FI a Secret”