Hypothetical Budget for a 2/3 day in the office job!
I quite fancy, NRN, but at some point in the medium term future, maybe sometime in 2025 or 2026, a nice little office based research job, maybe in Lodon or if not some other major city: Birmingham, Bristol, Cardiff, some other university town, I don't really mind.
It would have to be a nice, worthwhile job with nice people, so this is probably going to remain hypothetical since those type of jobs are gold dust and usually get gifted to the rich kids by the older rich kids who can afford to work in nice jobs because daddy earns £200K a year in the city trading poor people's children for plutonium on behalf of rogue states, or whatever.
Anyway, apparently the rise of the super-commuter is now a thing, with more people commuting from around where I live on the welsh borders to London for 2-3 days in the office, so 2 nights away on average.
I'm estimating £600 a month for part-time rental and train fair, sounds about right, one can get quite close to central and be able to park, 20-30 minutes out by train.
And working on a nice, decent quality of life budget, as below...
I'd have to earn the following:
Assuming post-mortgage or that my passive income can pay that off (not unrealistic) then....
- Full time = £22K.
- 4 days a week = £27K FTE
- 3 days a week = £36K FTE.
Assuming a maximum of three days in the office with all of these, then I could potentially even do an advanced apprenticeship on the full time salary, that is a spectacularly LOW amount.
And with my level of qualifications and experience the later FTE of £36K is totally reasonable, although I'm not sure I'd fancy the level of responsibility that's likely to go with that!
Another possibility is to aim for three-four days on a lower salary and then actually 'WORK' the fourth day at something else, there's always tuition - £30 an hour, 4 hours = £120 a day = another £6K a year which clearly makes up the difference!
(And the other half the day for travelling back from, or to London, it works!)
It's doable!
When...?
I dunno, I'm quite happy RN doing my interviewing and volunteering, I'm thinking maybe once I'm actually fully trained up and give CA at least a good month after, then I start looking around lightly.
I'm in no rush!
I also need to keep an eye on how the blog income holds up, that has to maintain to pay off the mortgage with the figures I'm working with here.
And it's A LOT cheaper for now to just stay put where I am and not pay an extra £600 a month just to work.
Needless to say it would have to be a job I REALLY liked to do this!
NB the other motivation is that I quite like the idea of spending some more time in the SE, it's my roots, after all!
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It is quite tricky to juggle affordable renting and commuting. My acquaintances do not understand why we would rent our house that is fully paid to rent another house for the same money close enough to work to walk there. I keep telling them that 1-hour extra time every workday is making it worthwhile, and they do not understand how precious that extra hour is. People not understanding how valuable time is. Huh!
I'm with you, what you're doing makes total sense!
Some don't agree with it. Don't care about it, though!
A mortgage can become a burden on us for years!
I must say, since I am approaching 52 YOA and knowing our mortgage will be done by the time I am 59, we will have more financial freedom in the not too distant future. RN it feels a bit tight at times with the costs of things going up but in a strange way it balances out, as I don't commute, WFH has it's massive advantages. If I went to our office once a week, it would cost 280 a month. Our car is an EV and my wife charges it at work for free and when charging at home, we do so at night, as it's super cheap then thanks to Octopus....
Sorry, you got my brain ticking over and into maths mode.
Blog income is small in my case but if I wrote more often, it would grow more.
I'm gonna kill my mortgage a little earlier, but similar ish time of life, it will make a massive difference, it's about 30% of my necessaries.
You've got it really sorted with the car, I'd like an EV but can't charge from home, no parking outside, not sure it would suit that well anyway, I do a lot of long long journies, maybe that'll change by the time I'm due a new one, I would like one!
Ours is the MG5 EV long range model, we’ve got used to it and the time taken to charge. Main times for doing so are overnight or when at Tina’s office, free charging is a company perk for them. When visiting either of our parents, who live 70 miles away, we can almost get there and back. Not so much in the winter. Summer is great as the charge goes further. 20% variance in fact between the two kinds of weather.
If you’ve no space outside, that is a problem but I’m hoping will eventually be less of one. Some towns have charging posts in the streets but the snag with that is visitors to your town pinch them. That must annoy residents.