A lot of people get caught up in the consumerism world that is Western society but what is it really worth? Need a plasma TV, a mercedes, the best school for the kids, or a better job? A society that is based on training for the job youve always wanted yet havent discovered plumber this year lawyer next all can be done on a homestudy course for just £££ with an interest rate hike to increase the costs of the course. We are living in a world that is led by banks and accountants. If you take the “scrappage scheme” in the UK which was a tax break for buying new cars to stimulate the car market in the UK right? But the cars dont even get manufactured here its just money being sent abroad and people given more debt with a helping hand of the tax payers of the UK to increase the pockets of workers in the EU. The next thing is how to beat the system and play it against itself. People complained about the Polish workers in the UK but personally I think they have the system right. They came to the UK worked and sent money home to develop business and other ventures back in Poland. Maybe buy the home they always wanted or simply cleared debts and built up a nest egg of money. But the key to success is not to live in the UK. Come in find a shared house, make money then leave. Your dependants living in a country that has low living costs and the ability to develop things to be self sufficent. Do it right and you could be retiring ahead of nearly everyone you know. There will be people amongst you saying you shouldnt send money abroad as it damages the UK economy. But to that I would reply we are no longer the UK we are the EU and the EU is exploiting every avenue it can get out of the UK which leaves only leaves sitting and complaining about it, campaigning against something politicians have already sold us down the river with or changing and adapting for what is now happening and will see things getting worse by the years that pass. There is no improvement to the system coming we are in a social decline which is being balanced across the EU. Poorer member states will develop and the people of the UK will be footing the bill and slowly seeing its economy shrink.
But its not all doom and gloom as its a kick up the backside for most people. The good years are long gone and if you change your habits you can get ahead easily. The UK is based on you buying lots of things you dont need. Cars are based on at least 11 years use. So taking a reliable second hand car you are picking up something around 3-5 years old which will not only be reliable but unlikely you will have to spend much on it for some time if you research properly. Also if you can get by on not having a car at all you will save thousands of pounds a year although it does restrict you if you ever lost your job and needed to find one outside your normal area. Or you could do what I do which is I hired my car off a relative that way they have a fixed amount each week they wouldnt normally have for a car that they arent using.
A career move could be the way forward. When im in the UK I stop in Worcester but would never work here. The salaries in general in Worcester are poor because its a farming city. Many other regions nearby suffer with the same problems. To get top pay you have to head into other areas. Birmingham, London, Lincoln and Swindon are all places I have worked in the last few years. Also being based on an “agency salary” helps. As a full-time permanent role is often 50% less than an Agency role not including the fact if overtime is done your paid where a salary role its “expected” which in real terms means unpaid hours.
Base life on a bag.. this is how I deal with things in the UK. If I cant carry it I dont need it. I have a laptop but no need for a TV. The laptop is my TV,DVD player,mobile workspace and contact home rolled into one. Everything I own and need in the UK fits into 2 bags and when im back in Cebu my work clothes are boxed and left in an airing cupboard until I return for work. Being minimalistic doesnt only save space it saves you money as you dont buy things you dont need.
Skimming off the shopping list is another way to save although personally I dont have much groceries in the UK because im living on my own until I go home. But if you search through your shopping you will notice price hikes on some items and also items you dont really need. One thing I sent back to Cebu was a bread maker as its something I know that will pay for itself in no time aswell as offer better quality bread than can be bought at a supermarket.
Credit cards and debt best advice is look at how much the debts really are and where you want to go. We live in a debt society where racking up debts on credit cards and bank loans is expected. But I look at it from the opposite angle in the fact I dont want any loans and I definitly dont want any debts. Everything I do is paid in cash and its how you should approach things. Set a weekly budget and stick to it. If your riddled with debt get some serious financial advice from the Citizens advice bureau as your best option may be to go bankrupt and reset your credit score. Ok it will affect you for several years if your wanting to buy a house etc. But the banks have made getting accounts you cant get debts on easier and you will be surprised at how easily you can manage your funds without the constant fees, penalty clauses and interest that would normally attack your debts. Banks dont want you in credit but there is nothing to say you have to play the game they want. If you dont own your home and dont own a new car then clearing your debts with an IVA or Bankruptcy could be the way forward to a new life.
Savings and investments is a topic that im not going to discuss in great detail simply because its a difficult one. Otherwise everyone would be doing it and not so many people would have been stung with things like the Legacy group collapse. Only advice is simply if it seems to good to be true it probably is. High interest rates can be found on bank accounts in the Philippines with a bit of research but doesnt mean they are always safe investments. At the moment my own personal investments make more on the ventures im involved in than a 20% that I could probably make at a bank annually. Doesnt mean I wont invest in the accounts later but simply I have other ways that can pay a much higher return in a lot shorter period of time.
All in all though getting to where you want to be involves changing the way you live and being aware of opportunities to make money. How I work my life budgets may seem odd to most people but this is how I do it :-
You start with 2 funds the first is your income the second your savings.
You divide it then into weekly and monthly budget income/expenses start with a pen and paper and work out how you want your spreadsheet and if your not into computers just track on paper.
You will then have a weekly account of what your spending/saving aswell as a monthly overview of what you are gaining each month. I would start tracking this way for a few months until you get into the swing of things and work out your disposable income which you can then put forward for things like savings, project development or businesses.
After youve got the first few months out the way you can start looking at putting roots down in the country your moving to. If your like me my wife and family are in the Philippines full-t
ime so building businesses is easier to do due to having key people that I can trust in the right places. Once things start to develop you can then do what I do which is divide things up into manageable boxes/funds.
1. First business income + expenses + business predicted expansion.
2. Second business income + expenses + business predicted expansion.
3. Third business(es) income + expenses + business predicted expansion and funds needed (these are fledgling businesses requiring more funds to make sustainable and profitable).
4. UK – Income/expenses – Which is broken down until funds sent to the Philippines for business and property builds aswell as a fixed weekly amount I can use e.g. Food,car expenses, rent. This allows me to plan ahead for the forecoming months.
5. Philippines – Income/expenses – This is things such as food bills, medical care, car expenses etc. that are being undertaken in the Philippines while im away.
There is a reason I havent posted my expense layout and its purely down to one reason it wont match yours. If you want a brief one done if people post here I will show how mine works.
But all in all the spreadsheet is based when im in the UK on my work period of 6 – 8 months with a savings amount growing each month for the money we need back in the Philippines for next year. Once I head home then the budgets change again to a more localised budget account as we start to look at where we can use our funds to increase our income and future incomes.