Did you hear that? That was the sound of me coming back to earth. I had a couple of big time reality checks yesterday.
In the morning I went to open day at a new gym near home and did the free fitball and circuit class ( a fast paced class alternating between a weights circuit and fitball exercises). It was very evident, very quickly, that I had work to do in the areas of core strength and balance. I already knew this, but now that I am planning to work as a professional organiser, which can involve lifting and shifting peoples stuff, I really need to be strong. It felt good to be back in the gym after a few years, so I decided not to overthink it and joined up on a month to month plan. (More expensive than a 12 month plan, but I can bail out more easily if it isn’t for me). The first ouch is for unaccustomed exercise, joining fees, and monthly direct debits.
In the afternoon I had a sudden and unexpected urge to do a detailed and realistic budget. I have been living on my savings and exploring my options in an open and creative way, but the time had come to get realistic about the financial side of things. The first budget I did was a mish mash of personal and business expenses, and it didn’t achieve much other than to confuse and alarm me. There’s the THUD. The budget was difficult to understand because I am used to a regular income as an employee, and the old style budget was built around allocating a fixed amount. Working for yourself means the income is a moving target, and as a result the tax liability and even tax rate are moving target.
I decided the budget would be easier to understand if I divided it into modules, and tried to make those modules self sufficient. Module 1 is Personal Living Expenses, and included some temporary part-time work, say two days a week, to make sure those were covered while I get set up. Module 2 is Investments and it can be self contained if I pay the tax on the investments from the investment income. Module 3 is Professional Organising Business and I did a model of how much I would need for the business to support itself, as a starting point, then how much it would take for the business to actually pay me. There might be a Module 4 coming up, Business Analyst Consultancy, which is the kind of work I did before as an employee, repackaged as a consultancy. This has more scope to provide an income in the immediate future than Professional Organising, but could split my focus.
Despite the OUCH and THUD, I feel good today, because I have made a commitment to getting strong, physically and financially. Its seem like a constructive move to get out of la la land and into the real world of flabby abs and recurring expenses.
And the second OUCH? I did crunches (sit ups) yesterday, and it hurts when I cough.