Money is a funny thing. People claim it doesn’t buy happiness, but admit that it makes the world go round. Money might not be the most important thing in the world, but it sure makes things much easier.
In today’s world, lots of people live paycheck to paycheck. Lots of people get into debt, gamble and dream of not having to worry about cash.
For others, the idea of becoming a homeowner is but a dream. Paying bills and rent can be difficult enough, never mind getting 10% together for a deposit, pay stamp duty, fees and buy furniture.
When I moved in with my boyfriend 18 months ago, we talked about buying a new house together in two years. I can’t believe how fast time has gone and now we are getting close to entering a pretty bing contract together.
Since we moved in together, I’ve managed to save £11,000 to go towards the new mortgage. It’s not been easy and it’s not been without sacrifice. Here are some of the things I’ve had to swap in exchange for money for a new house.
My free time.
One of the biggest sacrifices I’ve probably made is time. I’ve worked really hard on my blog over the last 6 or so years and over the past two, I’ve started to see a pretty decent income stream.
It sounds fantastic. I mean, it is fantastic, but it doesn’t come without hard work. There are times when I get home from work, cook tea and then rather than be able to sit on the sofa and watch TV for a couple of hours before bed, I’m writing a blog post at 9 am for a brand that they live urgently.
My days off work at spent at the computer. I spend my lunch hour trying to blog or sort out my social media. I’ve not been on my Xbox One for months! I can’t even remember where Imm up to in the Elder Scrolls Online story. I just don’t have time!
But it’s been worth it when I’ve been able to put around 70% of what I earn from my blog into my savings!
A new car.
Sure, I’ve love to lease the latest BMW. I have had cars on finance and it’s a great option for those wanting a new car without having to buy one in one go. When I was younger, I loved having a new car and it’s something I am glad I did! That new car feel is something special. But for me, it quickly wore of and other priorities took over. 5 years ago I decided to take out a loan with the bank and pay off my car rather than get a new one and remain on finance. I’ve only got 3 payments left to pay and it’s all paid off!
This might sound silly, but it’s so easy to bury your head in the sand and not actually manage your money. You can keep spending and live in denial about what your bank balance is and only have a guess if you’re in your overdraft or not.
I used to be like this. But then I decided to get a grip. I took a bit of money out of my savings to get me out of my overdraft and I went through what I was spending and gave myself budgets and targets to meet.
I used to always be making ASOS orders. Some of you early readers might remember that I was forever posting photos of new dresses and shoes. I was probably buying 6 new dresses every week or so. Insane. Most of these dresses were not suitable for everyday wear so I didn’t get much use out of them!
Now I rarely buy new clothes. Once every few months I might treat myself to a dress or two, but mostly I only buy things when I need them.
We love eating out. As much as my boyfriend and I enjoy walking into York, having a meal and a few dreams, it was taking a big chunk of our money. We were probably doing this twice a month and it’s something we’ve really toned down lately.
The last time we went out we decided to go for some drinks and grab fish and chips on the way back. A yummy cheaper option!
So as you can see, sometimes you do have to make a few sacrifces for a bigger goals! I’m quite lucky that I’ve still been able to keep a few luxuries (like PT sessions) but I have cut down on most!