We do have savings, 10k at the moment, this is money being saved towards buying a home, but in the meantime it’s there and now I couldn’t see myself without the comfort of having it there.
We have our own construction services company, DH is a freelance site agent, plus myself and a few people we know offer the odd days of labour/site cleaning.
Myself and DH say down and decided we would take a pretty small wage, allow for a certain amount of business expenses, but save as much as we possibly can so we can start to take a larger salary in 1-2 maybe 3 years, but have 6 months business running expense sat aside. It’s hard but in order to be stable that’s what we’re doing.
The starting point for us was looking at what we did spend and cut out a lot of our expenses from there.
I cringe thinking how much we were spending each month on things that were definitely not necessary. We go out for dinner less and stay at home more.
I have also found that the Tesco click and collect service saves us a lot. I stick to my strict shopping list then, it costs a few quid more than I could do the shopping for, but it also cuts out the opportunity to buy crap we don’t need and forget things, then another trip in for milk ending up with a basket full of junk costing £20.
And believe me, when you see that £60 or whatever then turn into £200, or £300 then jump to £500 you’ll be quite excited, then seeing it go up and up you’ll start to think, well if something were to happen, we would be alright, it really does make you feel that bit calmer.