I think you've lost it mate. As amazing as punting is, which it is. I think you need to prioritise your spending. Maybe save the £500 a month towards a deposit on a flat or house for yourself? Maybe you already do and have your finances sorted out.
I just read it in the way that you have looked for cheaper accommodation just to spend more on punting. Which is quite frankly dangerous, are you addicted to it?
Each to their own but I think anyone who is making major lifestyle changes to free up cash for punting needs their head examining. That £500 buys you, what, roughly an hour a week of punting time and look at what you're sacrificing to have it.
+1
Hey guys, it's a thread to optimise budget to do more punts! Not to judge behaviour.
I think living cost in London is crazy and most people are sharing anyway.
It makes more sense to live in a shares flat to save or enjoy life than having a flat without flatmates!
Then whatever I do with the saved spending... I feel much better spending it on prossies than buying beers and parties.
Different pleasure!
Not pissing your money down the drain on rent is a much better way to optimise your punting budget, you'll just have to be a bit more patient. Interest payments on a mortgage (particularly ones with a good size deposit) are still much better in the long run than renting.
If you're happy to share (I couldn't bear the thought of it nowadays) then it's definitely a good idea but just because most other people in London do it, doesn't make it a good idea if you could be saving up instead. And why the hell do you want to be like "most people" surely you want to be much richer and better off than them?
No one is saying to never spend on luxuries (punting, nice stuff, hobbies, eating out, booze, holidays etc) but those should be done very sparingly. It's not just that what you save now, you'll be able to spend later, it's that if you save now, you'll have MUCH more than you saved to spend later. When I say saved I do mean for it to be spent on buying a property (or investing in your business/career).
I'd also question how much satisfaction you really get from punting - the half hour you spend (definitely don't book longer than that if you're on a budget) is hopefully great and the next hour or so is probably decent/still satisfied but after that what do you have to show for it - you're probably horny again!
IMO, anywhere near £500 a month is crazy for someone who doesn't even the basics in life sorted.
I don't imagine our lifestyles are very similar so I doubt I have any good budget tips other than that long term one, especially because I don't know what else you spend your money on so I can't see where you can save more. If you don't already you should track what you spend a create a budget to identify exactly your money is going and then cut down on the expenses that aren't really important to you (and/or try to find cheaper alternatives).
The other side of your budget is of course income. So I'd say don't neglect your career or business ambitions (as long as you've researched and planned properly). Investment in yourself and/or business should yield big returns in the future (obviously business is much more risky but presents higher rewards). Assuming your career does have good further opportunities (if not you should change), spending extra time working, networking, educating yourself and doing things (in or outside of work) that give you responsibility, improve your skills and allow you to demonstrate them (e.g. on your CV) will be time well spent if it means you can get ahead and get a bigger pay packet. Big bucks makes owning your own place and spending on a variety of luxuries like a punting a breeze. The main downside though is usually the lack of spare time you have but sometimes (if not often) there are ways round that.
If your career/business isn't vitally connected to London then it's well worth considering moving elsewhere. You'll take a pay hit but probably still end up with more disposable income (that should be saved up for a property) because in Manchester for example, accommodation, transport and many other things are often significantly cheaper. On average punting is cheaper too (and many of the good/best girls there won't charge as much as they do London). Of course there are bargains to be had in London but given the likely time and travelling costs they're probably not that great.
Buying a home could be a good idea if I was earning lots. unfortunately It's no with £500 saved there and there I could afford a cheap flat in london.
Well at the very least focus on earning more then. Also, don't just save "here and there", make it regular and make it big.
Bear in mind the average property cost in London is around £500,000. Even if I aim at the lower end, such as £350k, I need about 25% deposit to avoid higher mortgage. That's about £90k saved or saving £500/month for 15 years!
That assumes you won't be earning more, hopefully much more, in the future. It also somewhat assumes you're happy to be living/sharing with others for the rest of your life (and if not then you're happy to pay more, even though rent is pretty much money down the drain and you'll have less to punt with).
So just saying, saving to buy a house in London is not a good idea!! Unless you are a monk or something and don't need sex
Yes it fucking is a good idea! Also you really don't
need sex. If you needed it that much surely you'd have got a gf (surely any would do) and just put up with all the bullshit involved with that. You're also forgetting the relief that a five finger shuffle can provide.
Of course I get it though, it's a strong want, I have it too. But I fail to see why one per week so important. You're surely horny more than that but are able to cope. One punt a month is a much better balance although even then if you could just hold out now (say 1 every 2 months), you'd be able to afford a lot more than just one a week in the future. Punting doesn't particularly get any worse when you're older but getting a gf will, perhaps focus on that and you'll hopefully get satisfied sexually and more, as well as saving plenty of money (to be invested smartly). Unless of course you're like me and you also crave the variety that punting offers - in which case you're probably fucked!
If you own a place in London then when you retire you can sell up, move up North and live and punt like a king! Who knows, maybe in the future you'll be in the North West section calling me a broke ass bitch!
