So we looked at our financies... we can afford this house, but only just. Things wont be comfortable and I'll most likely have to give up the singing lessons I've been doing for half a year. They've been costing a fair bit - £200 a month if I do one hour lesson a week. Yikes...!!
I do enjoy them, but not 100% sure if I am getting the most benefit from them. I know I'm not doing enough off my own back, mainly due to shyness at home for going through practice routines and exercises, and also not wanting to disturbing my downstairs neighbour. It'll be better in the new flat once I have a purpose built room for my music (got some plans in the works there)
So I'm thinking I can cut back to maybe one every 2 weeks. Still £100 a month I need to find though. So I need to cut back on some other things. So ultimately... looking for tips on saving money. I guess it's probably obvious to some people, but I'm not used to having to look after my money. I'm used to just blowing it like an irresponsible teenager!!
After mortgage, bills, savings, transport, I'll have £480 a month to feed myself, pay for band and potentially singing lessons, and every other extra-curicular activities! So... it's not too bad, just needs properly thinking about and things prioritizing. But I'm pretty sure I cannot afford to keep up my current frequency of lessons.
I've killed my Netflix account. Keeping my Spotify account. Next April I will change my phone contract to a cheaper one. Trying to trim the fat basically.
(I really hate having to change my lifestyle... I hate change...)
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Besides that, do an audit on how much you spend on stuff like coffee, lunch, drinking, meals out etc, like DS has suggested. It adds up silently in the background.
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Remember, it's easier to criticise than create!
Take dep gigs to earn more money, mix bands to earn more money, offer hire on any nice gear you own, there's a lot of hussling you can do to make money in the music biz
The second was after we divorced and I felt I had to buy in the same area, to maintain consistency in our son's schooling. I spent much of the last six years in a job I hated, to enable me to over-pay, to give me the freedom to take a lower paid job, which I'm happier in. It has been emotionally and physically tough.
I really don't want to pour cold water on your plans @Drew_fx, but you are clearly one of life's free spirits. I'd urge you not to get trapped by a financial commitment that restricts you excessively. The 'freedom' of home ownership can become imprisoning....
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