Cyber Security Promotion

In 2016 I got promotion to my company's Cyber Security Team. My new role came with a nice 5k pay rise which was sweet.

And what did I have to show for this extra money? Was my overdraft cleared, did I use the extra cash to increase my credit card payments, did I save or invest my pay rise?

The answer is no. I have nothing to show for my extra 5k a year. In fact my debt increased since from there. Thinking about it, this pattern seems to be the case throughout my career - As I earn more I spent more.

With a wage increases can come higher credit limits resulting in more debts. When we earn more our lifestyle tends to follow and we buy more, upgrade our stuff and even use more credit that's made available to us.

Furthering our careers offer an opportunity to dig ourselves out of debt. When you get a salary increase put it to good use. Continue to live as if you didn't have the extra cash.

It's important that when we receive an income boost we take advantage by spending it wisely on paying off our debt and saving the extra cash. If we fail to do this our rewards for working hard and earning promotion are just wasted.

Use any salary increase you receive to increase your pension contributions, kill off debt and save up. For my next promotion the income boost will be spent straight into my mortgage and home improvements.

This Is What I Do With My Wage

I used to blow my wage. I still do. Only now it gets spent on my debt. Before I began writing this debt blog I lived life unconcerned about money and the debt I'd accumulated. I lived for now, enjoying the moment at the expense of spending money like it was going out of fashion.

Sure the bills got paid and I never cared about my credit rating because the debt was there when I need to borrow money. I'd earn and spend, borrow and spend until one day last year it hit me that this crazy spending wasn't bringing me any satisfaction and I needed to do some financial planning for the future.

While I'd bring sensible enough to pay in my pension since I was in my twenties I still lived pay check to pay check and the real killer was my debt and horrible spending patterns. These pretty patterns felt great at the time. The problem is another word for pattern is habit. After my promotion I seemed to spend more and more. With more money I took on more debt and kept upgrading my phone, car and buy stuffing to keep up with friends and family.

The reason my debt levels are dropping every month is because I spend my income on paying off debt. After my company pension contribution, taxes and bill payments most of my paychecks go into paying off my debts.

By doing so my debt is dropping and I'm funding my future life and bringing early retirement closer. If you genuinely want to get out of debt some things will have to give and so hard choices should be made.

No doubt that it's hard not spending your money on other more exciting things. Spending on computer games, gadgets and fancy clothes is far more fun however you need to make debt a top priority.

I want my readers to get out of debt and stay out of debt. As this year comes to a close it's time to decide what your financial goals are for next year. What will you do with your wage each month? Spend, Save or Pay Off Debt? My advice is next year go debt free.

Financial Regrets, I've Had A Few

I’ve compiled my top seven financial regrets. If only I knew than what I know now about personal finance I'd be rich beyond my wildest dreams. Take these lessons and don't make the same mistakes:

1. Using Credit Cards - I got my first credit card in my twenties and my second one a couple of years later. I wish I hadn't. My credit cards were used as an extension of my income and to fund my bad spending habits until both cards were full of debt.

2. Taking out Loans - To gain my independence I financed my car through a loan. I should have waited and saved up instead of using car finance.

3. Buying a House - Sometimes I think I shouldn't have bought a house and continued to rent for longer, maybe even move back in with my parents for a year or two to save money. I love my two bedroom pad however buying a home is a big decision that involved higher bills, repairs and maintenance.

4. Not Maxing Out My Pension - While I've always paid into a company pension I should have increased my pension contributions sooner. Doing so would have ensured that I invested more into my retirement every month. That extra money should have been growing and making more money.

5. Under Earning - For a long time I didn't realise my earning potential in my career. I lacked confidence and wasn't sure what field of IT I should specialise in. My roles were mainly support and service desk work. Until I moved into Cyber Security I didn't really find rewarding work with a higher salary that paid me what I has worth.

6. Not Living on Less -. When my income went up so did my spending and waste levels. I seemed to be always chasing to buy more stuff when I didn't need to. Budgeting and being more frugal never crossed my mind, spending was my weakness when I could have lived on a lot less and curbed my spending.

7. Not Dealing with Debt - My debts were ignored for a long time. I wish I would have learned about money management and the damage that debt does to your wealth sooner. I let them build up and get out of control.

My financial lessons have been learned. What are your financial regrets?

The Death of Your Debt

Hello debt haters and fitness freaks. I'm Adam, I want to be Master Of My Financial Universe.

I agree that health and debt are an interesting mash-up. This blog exists because I  wanted to stop procrastinating with money and finally be in control of my finances and health.

Hopefully you are a regular reader of the Healthy Debt Diet you'll be fitter and your debts will be going down. I launched this website to audit my finances and get my health back on track. My mission to pay off all my debt is on target and I'm the fittest I've ever being in my life.

Joining me over on Twitter will help you stay motivated and keep going until every last penny is paid off. There are also extra resources, advice, blogs and recommended books in the right column which will help you with your personal finances.

The death of your debts offers many benefits. When your debts are all killed off you'll have more money, not only to enjoy yourself but to save and invest in your future. Owing no debt gives you more financial freedom to build up wealth and grow your net worth.

With your debt dead and buried you'll enjoy these benefits:

·         No more wasted money on interest payments.

·         Be able to save up.

·         More money to invest for your retirement.

·         More money to do the fun stuff.

·         Give more to charity

·         Less stress and worry about money.

·         Less budgeting and simpler financial management.

·         Financial Independence and Freedom.

Reaching your no debt day will require changes, motivation and patience. So today I'm launching my Health Debt Diet Program. I want to be your financial superhero so you can reduce your debt, increase your savings and get wealthier.

I want you to have financial goals instead of using debt to live off. I want you to be in a position where you can save 20% of your income so you don't have to live and work to pay off debt for the next 50 years of your life.

I want to be your financial He-Man. To look at your financial future from a position of debt free strength.

You can be the master of your financial destiny. If you want to buy your own financial freedom back then meet me over at @HealthyDebtDiet and start wiping out your debt. Let's nuke our debt together! If you require some Debt Diet Busting Glory then Join me onTwitter.

As your debts drops lower and lower you can to think about your next financial goals. What do you plan to do with all the extra money you gain from becoming debt free?

Cigarette Failure

I have a confession to make - I smoked cigarettes. I feel like a big fat failure, I'm so disappointed and ashamed of myself. If you smoke again or have the occasional cigarette you haven't quit your addiction.

Nobody really enjoys smoking, the rewards for quitting offer so many benefits to your health and budget. But with all addictions temptation is the beginning of failure. It's so important that you avoid the places, people, websites and situations where you'll be vulnerable and more likely to give in to cravings and increase the pressure of doing something you regret.

Socialising is important to your sanity. You can't remain trapped in doors for fear of spending money or going over budget. You need to let your hair down once in a while or you'll go nuts. Christmas should be time where you can release stress, have fun with your family and friends and buy them nice presents.

It's also the time when financial pressures and crazy partying can take their toll and the hard work over the last few months can be spoiled over a weekend. I feel bad that I smoked and wasted all my good work.

How Important is Your Nicotine Freedom?

How to stop smoking or any addiction is easy - Never do it again. Smoking isn't enjoyable or fun and it doesn't help me relax. Stopping smoking has had a wonderful impact on my life and health. My priority now is to end the hold that nicotine has had on me. I know I become complacent and let my guard down. It's so easy to fall back into your old ways.

I'm going to keep my smoking relapse in perspective. The world hasn't ended, it was just a blip. I know I don't have to smoke. I've managed without them for months. It's time to go cold turkey and say NO TO NICOTINE.