Hi there, I’m a long-time reader (since 2012 I think) but first-time MMM writer, reaching out as I feel I’ve hit a brick wall and want to make use of the hive-mind that I always imagined was lurking on these forums… prove me right!
I live in the UK, by the sea, in a town with zero job prospects (literally zero) but rock-bottom cost of living. I am a freelance book designer, with a wife, small child and three-legged cat, just about to turn 30.
My wife helps me with the freelance business (Ltd company), so I split my salary between us both, resulting in no personal tax liability. I work 3.5 hours a day, 5 days a week, making an average £15k a year. My spreadsheet lists a net monthly income of £1200, which is pretty reliable.
My monthly expenses are:
Rent = £600
Food/misc expenses = £300 (done on a 1% reward credit card)
Council tax = £130 (I forget the US equivalent to this, sorry)
Energy = £75
Car insurance = £20
Water = £35
Internet = £30
This adds up to £1190, which means officially there’s only £10 being stashed each month (plus 2% back on most bills as it's a reward account). We have an EV, so no extra fuel or road tax, and have a large overdraft facility to cover emergencies (health care being free in the UK). However, this lifestyle has left me with just £500 in savings and £300 cash on hand.
What I’ve done, of course, is let myself get carried away with the MMM movement (mixed in with a little Tim Ferris) but taken a shortcut… I've never put in the gruelling hours of high-paid city-based work, pretty much just done this since I graduated, and at the moment am enjoying long mornings with my family.
I have an office (walking distance) and a colleague, both of which I took on last year, but the colleague’s extra output just pays their own salary and the office fees!
Is it simply a case of figuring out how to earn more, should I be trawling business forums instead?
Happy to provide more info. Thanks for reading!