I’ve been actively creating our money plan for just over 7 years. I started because I was sick of getting to the end of the month and not having any money left and feeling worried about money. I’d always wanted to learn how to invest but didn’t know where to start.
I signed up to a money course called the Financial Freedom University with Ann Wilson and it literally changed the direction of our finance. It covered budgeting, base investing through index trackers, property investment and much more. What I loved was the framework it gave with suggested % costs of living to target. I love understanding the big picture and calculating what we needed to become financially free and live off our assets was liberating. We suddenly had a target and could plan from there.
Here are some of our stats;
At the start of our journey we had 26% of the net worth we needed to be financially free. We didn’t have a budget, we spent more than we earned and we were worried about what would happen if something went wrong. We also had some credit card debt. Today we have hit our asset target and whilst we are choosing to still work we’ve been able to make different choices to maximise the life we want to live.
How do we do this? In reality it was a bit boring, but boring is beautiful!! We invested our pensions contribution from corporate roles into our company schemes, we put 10% of our earnings into investment trackers in our ISA’s which is automated and happens without us needing to do anything, we’ve managed to get 2 investment properties & any profit from those goes into our SIPP’s to reduce our tax position. We have a really small crypto portfolio, we side hustle through cash back, matched betting, surveys etc and we’re developing an online business. We have a really conscious budget and spending plan so we know that our hard earned cash is working at its best for us to lead the life we want to lead.
There’s a well know phrase that Amara is thought to have used and is often used by Bill Gates, Tony Robbins and others “Most people overestimate what they can achieve in a year and underestimate what they can achieve in ten years.”
I’ve created Confidentmoneyplan to help others create they life they want by getting the money stuff sorted. Is that you? What steps will you take today to get your money plan started?