My historic financial planning strategy has been save before you spend. Meticulously tracking my funds as they vanish into pensions, share schemes and savings accounts before leaving enough left over to pay the bills, watch the football and book a holiday.
I’ve been the master it all, overseeing everything. Moving funds on the day they mature to maximise interest returns. Making sure I never end up with an account paying 0.05%!
This has all changed since redundancy. I’m still a prudent spender. I like a bargain. But my income is a fraction of what it was.
In the past I had more coming in than going out. Now I run at a deficit which, while I pursue business class flying, will only continue.
Dave Stringer Plc is operating at a loss. And I don’t actually care! Yes, I’ll move the cash from savings account and clear the credit card bills in full. I’ll ensure I don’t pay interest or overdraft fees. But, until that redundancy balance has virtually gone I really won’t care.
The current plan is for it to run out within five and a half years. If I’m still alive I can look at drawing pension, claiming housing benefit or possibly part time work <shudder>. All the exciting trips will be done by that stage. I won’t have the means for any more and will be living a much more frugal existence.
But then the rule book says I won’t last five years anyway. And while I’m happy going a little bit mad for the first time ever, there’s still that bit of me that thinks the rule book might not be right. In that case, sensible Dave will return to play and a more cautious approach to spending will take over.
For now though, I don’t give a flying …