Living the Dream – 2. Paying the Bills

Paying the bills

Like it or lump it, paying the bills is fundamental. If you want to build a new life, it is one of the first things to address.

In my last post, I promised to give an insight into the decision-making process that led to us choosing to emigrate, at least for a while. The first thing that we looked at was paying the bills.

Since selling a business in the summer of 2014, I have looked at a number of projects. None of them is lucrative enough on its own to pay the bills. Mags was working part-time at UK retailer Marks and Spencer.

Projects

I do some work as an anti money laundering consultant, I write here and at Nero’s Notes and I record a weekly podcast. Most of what I do can be done remotely, or with some travel. My priority is to grow these projects so that individually, or together, they make enough to fund the life that I want.

On the other hand, Mag’s position was different. She really enjoyed her work, and by its nature, she needed to show up in a specific place. However, her employer provides for a ‘career break’. Essentially, Mags could take up to nine months off to go do something different, and then come back to her job.

This created a timeframe for us. We could look at a suck it and see approach, moving to Cyprus for up to nine months. Nine months is doable. It’s a decent period of time, without being forever. Emotionally, it was easier to commit to. Additionally, a determined period provides parameters for the finance. I was looking at paying the bills for nine months.

My first assumption was, no income. If neither Mags or I made any income for nine months, was paying the bills from savings going to be possible? Now, we both hope to be generating revenue, but worst-case, could we survive without any?

We have some savings, so that was going to work, but to answer the question fully – we needed to do some research. How much did we need?

It was time to do a budget…

One thought on “Living the Dream – 2. Paying the Bills

  • Reply Maria Smith 17th July 2018 at 9:37 pm

    It’s a good idea to check as much out as possible before you go, at least the surprises will be fewer that way.
    I’ve also read your third post but note there is no option to comment Stuart?

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