Thoughts and reflections on the past week or so from my own financial independence campaign.
Progress on my goals
Boat plan
We completed the purchase of our boat/home!
She goes into a boatyard this week for some work we’d like done straight away, with an expected date of pick-up in July. We then need to sail her across the channel back here and do the few modifications we need to live on her.
Exciting times! This is either the best or the absolute worst decision we’ve ever made, and nowhere in between.
Payday!
So a weird quirk of law is that law firms tend to pick a random date to pay you. At my last firm, it was the 15th of every month. This time, it’s nearer the end but not quite the end of the month, nor is it every four weeks.
Go figure.
Anyway, I mentioned in a previous post that I wanted to automate my investments more. I don’t really want to share too many numbers on this blog as I’m probably quite identifiable, but the short version is that I upped my automatic deposits this month and invested double the day after payday.
Don’t read too much into the numbers: I was investing that anyway, but I had automated the normal rate and then later manually topped it up at the end of the month. The difference here is about commitment: before, I was only committing to the old rate of investments and then consciously investing more only when I was comfortable that I didn’t need the money now. By doubling it up and making the commitment, I’m prioritising my investments and declaring my intention to live within what’s left.
This makes my savings rate something a little over 50% each month. Ideal!
Distractions and detours
I didn’t have much time for distractions this week – what with all the sea trial, boat buying and a particularly demanding work week. It’s been pretty full on!
Next week is looking better. I’m leaving my partner with the dog while I disappear off to Download Festival with some buddies from back in the UK. I’ve already saved up the budget for this, so it’s almost guilt-free spending.
I have a rolling monthly saving factored into my budget for stuff like this. It’s a habit I picked up before the financial independence campaign: I put aside an amount per month as “tactical” savings, a pot of cash that isn’t for emergency funds and isn’t long-term cash savings/ investments.
Something about having that separate savings pot prevents me from going too wild and blowing my money on other budget items, but still lets me do stuff like Download or sailing courses or whatever. The money gets put aside even if I don’t have a plan for it (although I cap it and put any surplus into investments). Seems to work for me, helps me be more intentional with my spending.
Non-FIRE goals
My other goals suffered this week.
I wasn’t able to get to archery, I had to miss my guitar lesson to do the sea trial, and I pulled a muscle running again and cut that run short.
Well, not every week is a win on all fronts. I’ve been on a bit of a roll these last few weeks, it’s completely rational that I wouldn’t be able to maintain it indefinitely.
I’m cutting myself some slack for the lack of other progress.
My financial independence campaign continues!
