Shaney’s Personal Debt Reduction Journey Half-Way Review for July

Ok, over the halfway through the year which means I’ve passed the halfway threshold.  I have six months to get rid of my debts, excluding my mortgages.

I was not motivated to work overtime; honestly, I would rather sleep, write a blog, and watch Netflix than work overtime.  I know that if I want to reach my goals much quicker, I need to generate extra income. Early in the year I thought about side hustles; selling roses, earning money through this blog, but as of yet I’ve not earned a penny from these ideas. 

I’ve done side hustles before, and I knew that I am successful in buy to lets and buying and selling shares.  I used the latter side hustle to raise a deposit for the buy to lets.  It was good, but it took time and money.  I have zero plans to use the additional cash on reducing my debts, instead I want to use the money to buy land for my small holding.

I’ve found my dream land in the borough of Epping Forest, the problem that I have is that I am unable to find suitable land mortgages.  In addition, I do not have the available cash to put down as a deposit. I’ve been trying to think out of the box and to some extent I know how to expand my plans to a large holding but I am stumped at the first hurdle raising the deposit and finding a land mortgage.

Traditional banks offer land mortgages, but only to existing farmers.  I am finding it difficult to find a land-only mortgage for someone with zero farming experience.  I thought about the small holding route with a house, but this is expensive and way out of my budget.  If it’s not way out of my budget, then the location is too far, like in Wales!  That’s a six-hour journey, by the time I get there it’s time to come home.

 I remember my dad telling me to rent, but my experience renting from others is not too good, hence one of the significant reasons for staying at home.  Anytime I put myself in a position where it is perceived that the other person has control, it inevitably feels like they have this obligated right to treat me like shit.  And when you stand up to their shit, they get mad and start labelling me ‘the angry black woman stereotype’.  Over time my tolerance threshold towards others has become non-existent.  I have one life and intend to enjoy it to the fullest.  This means removing, where possible, everyone’s bullshit.  I am not about to give someone else neither my control nor my power.

I sat and contemplated that your health is a source of power.  We can break this down into two forms of mental health: the first power.  Master this, and the other ultimate powers follow closely.  Your mind has the power to change your habits even change your genetic DNA.  I was shocked when I found this out.  I thought once you’re born that your DNA was fixed; this is not the case; this can change.  Genetic markers can turn on and off simply through the power of thought and emotion.

Having good physical health is your second power.   Without it, the ability to earn money or a living is zero.  The final trinity of power is financial freedom; when I mean financial freedom, I mean the level that you can afford anything you want and pay for it in cash, without having to do a 9-5 job.  This is true freedom.

When I look at the FIRE movement, I find that most live on next to nothing or in some random remote place, scrimping on savings.  And they come on youtube smiling; yeah, I left the rat race.  I’m thinking to my self yeah you left the rat race to live like a rat.  Nah, the FIRE movement does not equate to power.

I keep coming back to the same answer, acquisition not of property but of land.  I envision a future where we will live not in towns or cities but in a more dispersed way of living.  We are already working in a dispersed way; we no longer have to relocate.  We can live anywhere in the world and still be able to make a living. 

Communities will be still strong, but they will be smaller and more dispersed.  I will stick my head out and say wealthy families would heavily dominate these communities.  These families would make up the inner core, predominately owning most of the land.   Those not connected to these wealthy families would provide a service to the families by either becoming teachers, doctors, civil service etc.  It would probably take another 20-30 years to see this come to light.

The land is responsible for creating every product available.  From the land, I should be able to save on my food bills, and gym membership as working the land means you have to be fit.  And I should be able to make money from it; since my luck lies with lettings, it makes sense to go into experience Air BnB holidays or rent out plots. 

Before all this, I must pay off my debts first.  I have adopted a bare-bones budget.  See bare-bones blog budget- 4 essential questions you need to ask.  Unfortunately, no more is spent on my plants unless I can work overtime or find additional cash elsewhere.  I am tempted to dip into my savings, but I realise that if I don’t touch my savings, I may have enough to pay off my mortgage on my first buy to let.

By the end of next month, I should have my car paid for, already I am nervous and behind overspending.  I can only hope and pray.



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