Mad job hunting

Well, another meeting, my formal individual consultation completed.

I am formally redundant and provided with my notice – 3 months – am expected to work it – even though I have no work and no line management to report all this through. I can go for interviews and I will be paid – what a prize – how considerate.

This redundancy process is such a farce! Everyone is expected to work their notice out. If we get other jobs then they will let us go early. Blatant job hunting is now evident in the office. The internet monitoring app will be top 10’s out on all the job sites!!

My sister had to do this, go in everyday, with no allocated work and sit in the office with all her workmates, they get on with their actual work while she surfs the internet looking at job sites and applying for new roles – how demoralizing and it really doesn’t make the office a good place to be. Contact your ‘manager’ to tell them when you are off job hunting or attending interviews.

It is so surreal.

It illustrates the pathetic state of employment and employee handing in the UK.

With my FI savings, I dont qualify for any unemployment benefits – can sign on for NI contributions only, which will keep my state pension ticking over, to enable me to qualify for whatever the state pension will be if/when I get to the pension age that will be applicable.

I need to start looking at my budgets now as well as job hunt, if I can prevent a gap in salary payments then I can keep contributing to my pension – if I can’t I will have to stop. What a hassle, although I can look at transferring my company pension across to my personal pension.

I also need to look at last year’s tax form and get that sorted with an accountant, I will have to pay extra tax for last year, so bang goes my savings for another hit.

Something like this does make you even more determined to get some kind of FI freedom and escape this mess that is a corporate life.

Off to sort my budgets.

 

 

Bad News Today

Received the bad news today. my job role is being made redundant.

So now the opportunity to reach FI will escape me.

Typical, I can but try to live off what I have for now while I try to find a lower paying job. I know I can live frugally and see if I can find something more fitting to my lifestyle – I want to have more free time and be less of a workaholic and not be ‘married to the job’ working all hours just to be treated like a number again.

I need to start getting my budgets sorted and my CV up to date and get out there and find something else – although having some time off to enjoy the good weather would be great for my health and wellbeing.

 

Hiccup to my FI plan

Yes, my job has seemed a bit shaky for a while but today, it could now be at the point where I have only 3 months of work left.

I am under consultation with a whole load of others, unsettling and trying to keep on the bright side and keep saving. Even if I remain, the job offer could be much less than I get now so will make a serious dent in my ability to save. I know I could live off less as I am doing so to get a 51% savings rate.

Just as I had managed to crack the 51% of my income into savings, I now find that in 3 months time I may have no income to save.

Life just likes to put hurdles in your way and prevent you from earning your freedom from the work world. The Government do not help as they don’t let you invest in pension schemes while you are unemployed (no-income, no-pension contributions). Plus I will have a big tax bill to pay for last year to pay later this year. Likely to be at a point when I an unemployed!

My shares and BTL dont earn enough to cover my expenses at the moment so not in the position to be FI but have general savings which means I would have to deplete my capital to survive until I can find/generate some income from other sources.

Better get planning and getting into the frugal style now so that I am ‘in the zone’.

 

July already!

Its over half way through the year now and I have reviewed my starting position and can be quite chuffed with that. I’m not that badly off but I could be much better too.

I have reviewed my ISA now that the new increased limit has kicked in. I need to increase my savings so have looked at adding a passive FTSE index tracker to my ISA holding at an additional cost of £100 a month.

I have also used some of my savings to buy some more shares, I need to widen my spread of share holdings so have bought some HSBC (while they are ex-div to add to my existing holding) and some Unilever shares (new to my portfolio).

My rental is nearing its first anniversary so I have expenses at the end of this month. I have the house/landlord insurance to pay and the cost for the gas service and safety certificates so my income from my rental will be down next month.

I have started creating a spreadsheet to monitor my savings % per month against my monthly salary and also monitor my passive income and how this is doing as a percentage of my monthly salary.

I need to look at my net worth too. Wow, so many numbers to crunch and I’m no maths whiz.

Ah, well it gives me something to do and stops me idling and spending my time doing less productive things like – unnecessary retail therapy.

Back to that spreadsheet now……