Things have been a bit tough for me over here at Lean Times HQ.
I have been hit with some quite large bills that come with some rather unpleasant badgering, if you are a regular reader you might remember that I was made redundant from my best paying freelance gig due to my employer losing his biggest client. Yes it all rolls downward. That was 9 months ago and I still have not replaced the hole that redundancy has left in my budget.
Scrambling for the mortgage and money to buy food doesn’t make you feel very creative. It is soul destroying. It also makes you look at the mistakes you have made. Yes, when you are broke 20/20 hindsight abounds. That would have, should have, could have mentality is everywhere. If ‘I only’ becomes your unforgiving ear worm.
My biggest money mistake in life, no not just at the moment but in life, is to think there will always be more coming. That just isn’t so especially when we are in a recession which feels more like a depression. What I have gotten from my self induced mental flogging is that I should have saved a percentage of every bit of money that I earned. No exceptions!
I would be in a totally different and extremely better position if I would have just put away a tiny bit every time I got paid. If I would have done that I would have a nest egg and a self made insurance policy that would have saved me so much heartache not to mention stomach ache as I think I am developing an ulcer. It is never too late to start to invest in your own future which is what savings is.
I have an online savings account that once I put the money in, it takes three days to get it out which means no impulse spending. When I was working full time, I had a Direct Debit set up to pay into this account but then when I went back to freelancing I pillaged the account. Me very stupid!!! Slap slap.
If you take anything away from reading this blog, please pay yourself and your future first. Get a savings account and pay into it regularly even if it is just a tiny amount. I would not wish my worst enemy to be in debt with the phone unplugged hiding from creditors.
ouch. and oh dear to timely reminder about how much we are currently living on the edge. both of us are freelance. we survived last year because i am a saver. this year needs to be better or we are headed debtward. and that is no fun. and costs so much to get out of. good luck. and may an unexpected windfall of a freelance gig fall into your lap.
Sorry to hear this and hope things improve soon. You reminded me that having something put on the side is important.
All the best for your future.
Hi Viviana, this is my first time to your blog and I just wanted to say that I hope things pick up for you very soon. I’ve made tons of money mistakes and I also didn’t have any savings either. I have a small emergency fund now and I’m busy paying off my debts. I’m sure brighter times will be right ahead for you.
Hi Hayley, thanks for your kind words. I am sure things will pick up as nothing ever stays the same. 😉