moneyhoney
Registered User
- Messages
- 516
Yes, I think so anyway. 9k? If you overhaul your finances you should be able to clear that quickly (6 months if you put your mind to it). Apply for other jobs and if you get one handily (as you think you might) then redundancy could be attractive.Am I mad to consider taking redundancy is this climate?
This is going to sound really harsh but it has to be asked 2 things strike me:
1) How do you think you'll do running a business when you've trouble running your own finances?
i.e You've €3.5k net take home pay, pay €600 rent (you mention €800 later), then all the general bills. You say you save only a small amount, but live well within your means (seems a bit contradictory?) but recognise there is substantial opportunity for cutbacks. Yet you've racked up €9k CC debt??
I've a lower take home, pay a full mortgage of over €1k pm, and yet still save over €500pm. You should have no CC debt and be saving €1k+ pm imho.
It also seems you've no kids given you've no life assurance. Where is all that take home pay going?
2) Given the above, how long do you think the €51k (€60k-€9k) will realistically last?
I'd agree with some other posters - try take a decent period of annual & unpaid leave. It seems you want a break from the daily grind more than anything else.
You talk about starting a business and also about 'a strong chance of getting work.'
I think you need to decide what it is you want to do first before you ditch a very well paid job.
Is there a possibility of taking some unpaid leave in your job for a few months and do your traveling.
I think you re capable of paying of that 9k over a few months if you have a frugal few. Then save over next few months then travel.
Not harsh at all. I came here looking for advice.
The business idea is just that - an idea. I don't have any specific plans as yet. My credit card debt is historic. It was at €11k 2 months ago & now at €9k, so a substantial amount of my take-home pay goes on that. And will continue to do so for the next 9 months. The debt I built up goes back to 2011 & 2012 and I have not used the card since 2012 & do not have another credit card.
The reason I talk about 'a strong chance of getting work' is that there are plenty of jobs advertised in my field - all of which I am qualified to do. I have also sent my cv to several recruitment consultants & there are jobs out there that I can apply for. Most are contracts though so I would be in a position where I would be giving up permanency for a contract + redundancy.
Moneyhoney.
Like your comment on last thread {not harsh at all} .
Too many times views are taken as too hard , nice to see your sensible response.
From the way you write , I reckon you will make it , so good luck.
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