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  • Writer's pictureJoe Woodhouse

Your Money Triangle

Imagine a triangle. And this triangle represents your monthly salary. In one corner you have today, in another corner you have kids education and in another you have retirement.  

"Oh Joe but I don’t have kids". Then it’s a line, congratulations! You’ve got a money line. And more than likely more disposable income, and hair, and get more sleep, and are less stressed, and have more free time, and can still do nothing for an hour, and you’re still sane, and... Anyway.

If you put everything towards retirement and/or children’s Education you’re gonna be miserable today, likewise if you spend everything today “living your best life” you’re gonna live a pretty miserable retirement, and your kids aren’t gonna thank you very much when they’re working full time jobs every night and weekends to pay for uni and have still got £50k worth of debt when they’re 21 before they’ve even got a “proper job”. 

It’s about finding a balance, know what you need for your retirement and for the little ones to go to uni and if you can’t afford to pay for everything for them, instead of kidding yourself and saying I’ll worry about it when they’re in their mid teens (which is too late by the way) work out what you’re gonna pay for: such as rent and fees and then let them get a part time job for their food, beer money and gym membership.  

And then start putting money away each month in a structured way (so it grows and works for you) to help you get there. And then you spend what left on your family today, I won’t begrudge you a Frankie and Bennys at the weekend and a couple of holidays a year if you can afford it, after all, that’s the only way you can make memories!

But likewise don’t get caught up in keeping up with Jones'. Something I see so many expats do with their flash cars, fancy watches and their business class selfies, and don’t get me wrong, I’ve done all of that and made all those mistakes before, at then end of the day it makes you look like a right melon - and it ain’t gonna keep the lights on when you’re in 70s, and poor.  

Save first, spend second. And find your balance.

Thanks for reading,


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