Uk News An artist on £1.5k a month who realised 'having money doesn't mean being happy' United Kingdom news

PremierLeague-News.Com - When I was working in advertising, I had a number of jobs with great salaries, but was constantly worried about the “what ifs”

Uk News An artist on £1.5k a month who realised 'having money doesn't mean being happy' United Kingdom news

PremierLeague-News.Com - When I was working in advertising, I had a number of jobs with great salaries, but was constantly worried about the “what ifs”

Uk News  An artist on £1.5k a month who realised 'having money doesn't mean being happy' United Kingdom news
03 August 2022 - 06:00

PremierLeague-News.Com - Breaking Sport Transfer News ! In our How I Manage My Money series, we aim to find out how people in the UK are spending, saving and investing money to meet their costs and achieve their goals.This week we speak to Stewart Morton-Collings, 44, who lives in Macclesfield with his wife, Jacqueline, and their two children, Esme, 10, and Jacob, seven. Stewart is an artist and partner at For Me & For You Designs, which he runs with Jacqueline. Monthly Budget Income: My monthly income can vary, but is around £1,550 a month after tax, when taking into account the wage from my business and Child Benefit my wife and I receive for the children. Outgoings: My outgoings are generally split evenly between my wife and I. My share is as follows: Mortgage, £230; groceries, £350; water, gas, electricity, phone and broadband, £205; council tax, £74; car finance, tax and breakdown cover, £127; petrol for car, £50; personal pension, £100; savings account, £100; TV licence, £11; life insurance, £39; school fees, £35; activities for the children, £50; National Trust membership, £10.50; entertainment subscriptions such as Spotify and Disney+, £25; hobbies, going out and clothes, £65. I was born in Macclesfield and my mother was a nurse, working in the local hospital. My father struggled with a brain tumour and epilepsy, so had to retire from his job as a processing technician with Ilford Film when he was in his late 20s. He passed away when I was 10. While we did not have much money growing up, I never felt that we were poor. I started working from a young age and got a paper round as soon as I was old enough. I then worked in the local indoor market on a fruit and vegetable stall. This gave me a small amount of money each week to spend on going out with my friends to the pubs in Macclesfield. I started drinking from an early age, probably as a way of blocking out the post-traumatic stress disorder from losing my father.I tried to apply to a number of drama schools, but was unsuccessful, so ended up going through clearing to a small university in Yorkshire to study media arts. I started to learn about money in the second year of university, and understood by this point that the more I worked, the more money I had. So I got a job as a pot washer in a local restaurant. This gave me a little bit of cash, but also food, as I was provided with a decent meal every shift I worked. I ended up working there five days a week. However, I still ended up leaving university about £10,000 in debt. I cleared the debt by the time I was in my late-twenties, after paying a big portion of my wage to the loan repayment each month. After a few years selling advertising space at a publisher in Leeds, I decided I wanted to work for an advertising agency and move to London. While going to interviews for advertising agency roles, I started working as a kitchen porter in a local care home, before joining the Evening Standard as a sales executive. I then took on full-time roles at a number of advertising agencies, but eventually moved back to Macclesfield in 2008. I quit advertising in 2013 to focus on the fledgling creative businesses my wife and I had formed. At For Me & For You Designs, we produce woodcut and papercut pictures, as well as products such as wooden brooches, name plaques, cards and tableware. We also offer a laser-cutting and engraving service for corporate clients.More from Saving and BankingSantander offers 4% cashback on energy bills and £160 switch bonus on new account02 August, 2022How to cut costs on school uniform, from bulk buys to swap shops30 July, 2022‘My Elvis collection is worth £1m’: How collecting memorabilia could make you a fortune28 July, 2022Over the past nine years, I’ve gone from being design illiterate to a full-time graphic designer, marketing specialist, photographer, social media manager, accountant and sales director for the business. I am concerned about rising costs and the impact they will have on our business. Our energy costs are rising and raw material costs have risen by around 20 per cent recently. We had to increase our prices by about 10 per cent earlier this year. I’m really not money orientated, and we do not run our business to make huge profits. The business was set up to allow us a certain amount of personal freedom; the freedom to take time off when we want and spend time with each other and our children, and the freedom to create what we want. I realised in my mid-30s that having money didn’t really mean being happy. When I was working in advertising, I had a number of jobs with great salaries, but was constantly worried about the “what ifs”. What if I lost my job, what if we couldn’t pay the rent, what if we didn’t have enough money to live on? I was worrying for the sake of worrying as we would never end up destitute as we have a great support network. I soon made a conscious decision to stop worrying about my finances.

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. I would like to be able to pay more into my pension, and I’m already resigned to the fact that I’m likely to be working until I die. But I am kind of OK with that. While I’d love the chance to retire and take up golf or cycle everywhere, my plan is to work in a way that means I don’t ruin myself over the next 40 years, and simply slow down rather than stop fully. I like the security that saving money brings with it, and I do not feel comfortable without the buffer of a little bit of money put aside. While I also like the idea of spending money, in reality I’m not a big spender. Anything over £50 will take me a long time to build up to purchasing. I am a sucker for a nice T-shirt and a fresh pair of PUMA trainers, but would never buy them full-price. I hate wasting money, and losing or breaking things really gets to me. I recently lost my new prescription sunglasses, which I purchased with some money we made at Christmas. I still think about them every day and it drives me mad that I can’t find them!Finding ways to save money at home has become a big priority for my wife and I over the last few months. We have moved to a more plant-based diet, and the impact on our weekly food bill has been dramatic. We’ve been able to shave around £25 off a week from our grocery bill. Stewart is an artist and partner at For Me & For You Designs, which he runs with his wife, JacquelineWe also use the Macclesfield-based CRE8 Surplus Food Grocery group, which we discovered online. Three days a week they sell surplus food from a number of local retailers. This is food that is near to or slightly past its sell by date and would normally go straight to landfill. For £3, we collect a couple of bags of groceries that would usually cost well over £20. The bags usually contain vegetables, dairy products, meat and things like cereal. By using the charity, we have cut our food bill by around £20 a week, and we’re happy to stop the food going to landfill. We collect one bag a week before doing our weekly food shop. Each week, we also set our menu for the next seven days and buy our groceries based on the meal plan.To save money on energy bills, we have stopped using the tumble dryer and dishwasher, reduced the amount of food we cook in the oven, only boil enough water for our needs and have shorter showers. We also switched off two heated electric towel rails, which had been on all day every day for 12 years. Even the children now switch off lights and consoles at the end of the day. We’ve been able to cut our energy usage by about 40 per cent, but I am still worried about the price cap rise in October. I love riding my bike and now cycle a lot more as well. I take the children to school on their bikes and then ride my bike to the workshop. For business deliveries, I’ve also started using my bike more, saving around £100 a month on fuel costs for our van. I have also started to buy and sell unwanted clothes via Vinted.I think one of the best ways we save money is bartering and swapping our expertise with others. We had a table made for us by a joiner to whom we provided some laser cuttings . I started a Christmas swap shop with our friends at the Treacle Market we sell at in Macclesfield and, for Christmas last year, we got a barbeque supplied by a local food truck in exchange for a number of our pictures. An electrician friend fixed our lighting in exchange for some of our artwork and tableware. We’re fortunate to be part of a creative community that understands the value of what we do. We can use our skill and knowledge to create and help us save money. In the short-term, I want to keep making and creating, and spending as much time with my family as possible. Longer-term, I have always worked to a vague five-year plan, but at the top of the list, I just want my family and I to remain happy and healthy.

Source = PremierLeague-News.Com

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