Hello and welcome back to Mortgage Advisor on FIRE.
Weekly Update
The weather has been awful for most of the week meaning I’ve not been able to get out as much as I’d have liked. However, we did manage a nice walk with a friend towards the end of the week. Our friend, Yvonne, who I’ve mentioned before, picked us up and drove us to Rivelin, where we completed an almost 10k walk. Along the way we saw lots of mallards, mandarins, and many herons. There is something so refreshing about being in nature, with the trees, water, and wildlife.
We also met lots of excited dogs, and it’s impossible not to smile when they come bounding over with a big smile of their own wanting attention. We saw one dog carrying an impressively sized branch, and then a while later another dog carrying half a tree. I made sure to praise both dogs for their incredible stick carrying efforts.
On Saturday we were due to go for a group bike ride in the morning but the weather was, again, awful, so we gave that a miss. Just after lunch the weather was a bit better, so I went for a ride. Oana wasn’t feeling great and we needed some shopping, so I rode out to a couple of supermarkets to get what we needed.
Along the route to meadowhall shopping centre the dedicated cycle lane had been closed for some sort of street market. Quite why they chose to hold it here instead of in one of the many vast car parks in the centre I don’t know. A few people have been bitching about it online, and whilst I don’t have an issue with street markets, it seems odd to hold it on a cycle path when there are huge empty spaces just a few meters away.
This particular cycle lane is a nightmare at the best of times as people who must be NPCs (non-player characters) just shuffle along like zombies across the cycle lane and then start growling when you point out their stupidity. Would these people just walk out into the road without looking? Actually, yes, they probably would.
A Great Experience at Urban Choola
On Sunday myself, Oana, and my parents went for lunch at Urban Choola, an Indian restaurant in Sheffield. It was our first time here, and like with any first visit to a restaurant there’s always the concern that it’s going to be a bad experience. Fortunately, this meal was a delight. We all enjoyed our food and we ate until we were full. The service was friendly and not too intrusive. All in all, a cracking restaurant experience and we would definitely go back.
Dear Motorists…
Every few weeks I see the same story. Someone gets caught speeding, ignoring a red light, or caught driving through a bus lane, or maybe found parking where they shouldn’t.
A few days later, an official looking envelope arrives, and suddenly the victimhood begins.
“It’s just a money-making scheme!”
“It’s a cash grab by the clown-cil!”
“They should be tackling real crime!”
“It’s outrageous!”
No. What’s outrageous is that a fully grown adult somehow managed to convince themselves that the consequences of their actions are everyone else’s fault.
Let’s clear something up. Traffic cameras do not randomly fine people. They don’t emerge from the shadows and decide to ruin someone’s day. They don’t wake up in the morning and think, “You know what? Let’s target Bob in his Vauxhall Corsa.” There’s no malice or bullying going on here.
The camera sits there doing absolutely nothing. Day after day. Week after week. Month after month until, inevitably, someone decides to ignore the clearly signposted speed limit, drive down a bus lane, jump a red light, or park where they shouldn’t.
The camera simply records the evidence. That’s it. The easiest way to avoid a speeding fine is almost laughably simple:
Don’t speed.
That’s the entire strategy.
Not “drive 38 in a 30 and hope.” Not “I know the road.” Not “everyone else does it.”
Just don’t speed. Problem solved.
The same applies to bus lanes.
If the giant painted BUS LANE markings, the road signs, and the giant red tarmac somehow fail to communicate the message, I’m not sure what else society is supposed to do.
Perhaps we need a giant flashing sign saying:
“THIS LANE IS NOT FOR YOU, STEVE.”
Then comes my favourite argument: “They should be dealing with real crime.”
Ah yes, the mythical “real crime” defence. The one that appears every single time someone gets caught doing something they knew they weren’t supposed to be doing.
Here’s a thought; If people stopped taking the piss with the law, the authorities wouldn’t have to spend time enforcing it.
The police didn’t invent speeding. The police didn’t invent dangerous driving. The police didn’t invent people treating traffic laws like optional suggestions. Drivers did that.
Let’s be honest, many of the same people screaming about traffic enforcement are the first people to complain about reckless drivers outside schools, speeding through residential areas, dangerous overtakes, illegal parking, and drivers using their phones.
I also don’t want to generalise too much, but fuck it, I’m here now. I can state with a high degree of confidence that the sort of people I’ve described will have also uttered something about “stopping the boats” at some point this year.
Apparently enforcement is only acceptable when it applies to someone else. The reality is that modern traffic cameras are one of the most efficient forms of law enforcement we have.
A camera can monitor a road twenty-four hours a day. It doesn’t need breaks, overtime, pension and NI contributions, or sick pay. It simply records violations and allows police resources to be used elsewhere.
Which is exactly what the “focus on real crime” crowd claim they want. You can’t simultaneously argue that police should spend less time on traffic offences while also opposing the technology that allows them to spend less time on traffic offences.
Pick a lane, just preferably not the bus or cycle lanes.
And before anyone says it, yes, speed limits can sometimes feel arbitrary. Yes, some roads probably should have different limits. Yes, local authorities occasionally make baffling decisions.
That’s a perfectly reasonable debate to have. But once the limit is there, the rule is the rule.
You don’t get to ignore it and then act surprised-Pikachu when you’re caught.
That’s like walking into Tesco, stuffing a steak down your trousers, getting stopped by security, and then complaining that they should be catching “real criminals.” The level of self-awareness is remarkable, as are the mental gymnastics required for this to somehow make sense in your brain.
The thing that fascinates me most is how many people seem to view themselves as law-abiding citizens while simultaneously treating every traffic regulation as optional. Yes, you might get away with speeding a few times, but when it goes wrong and you kill a car full of people, it’s not the sort of thing you can take back.
If you only obey rules when they’re convenient, you’re not really obeying them. You’re negotiating with them. Cameras don’t negotiate. They simply remember.
So next time someone starts ranting about speed cameras, bus lane cameras, red-light cameras, average speed checks, or whatever enforcement technology has ruined their week, ask a simple question:
“What exactly were you doing when the camera caught you?” Because nine times out of ten, the answer is the same: breaking the rules.
If that’s the case, I have some revolutionary money-saving tips.
- Slow down.
- Stay out of the bus lane.
- Obey the signs.
- Keep your phone in your pocket.
Congratulations! You’ve just beaten the system.
#AD – Do you want to help me earn a little cash for free? Of course you do!
Now that I’m self-employed I’ve signed up with a few businesses that offer services that assist with getting a mortgage. One such service comes from Check My File which brings together your credit report from multiple sources into a detailed breakdown of your credit history.
Normally there is a £14.99 monthly charge but with my link you can get a FREE 7-day trial. My affiliate link allows you to create an account, get your report, and if you want to cancel within the 7 day trial period you will not be charged. If you want to keep the service beyond the trial period, the £14.99 monthly charge applies.
By signing up to the trial period, you’ll help me out with a small commission even if you cancel inside that trial period.
Important points:
1. This code is for a free 7-day trial for those who have not had an account with Check My File before.
2. You can cancel anytime with no penalty.
3. If you do not cancel within the 7-day trial period, you will be charged £14.99 until you cancel.
4. It will ask for payment details, but if you cancel within the 7-day trial period, you will not be charged (assuming you have not had an account with them before).
5. I will earn a small commission from Check My File for each person who signs up for the free trial, whether they continue to a paid membership or not.
6. I do not get to see your credit report. It is private to you, unless you choose to share it.
7. To make sure the code tracks, please complete your sign-up in one sitting i.e. don’t close the tab and start again later.
8. Make sure you download your report before cancelling.
9. Yes, this is a shameless plug, but my last wage was paid in October.
https://www.checkmyfile.partners/GZMJPSJ/2CTPL
What I’m Doing
Listening: Parallax by Jeremy Robinson.
Watching: Rescue Me (Netflix).
Reading: Leviathan Wakes (Expanse Book 1) by James S. A. Corey
Financial Update
Assets
Premium Bonds: £250.00.
Stocks and Shares ISA: £147,225.24.
Fuck It Fund: £321.16.
Pensions: £125,871.50.
Residential Property Value: £242,113.00.
Total Assets: £515,780.90.
Debts
Residential Mortgage: £173,797.96.
Total Debts: £173,797.96.
Total Wealth: £341,982.94.
Over the last few weeks I put together my countdown of the greatest science fiction television series of all time. It was one of the most popular series of posts I’ve written in quite some time, generating plenty of discussion, debate, agreement, disagreement, and the occasional accusation that I was criminally underrating somebody’s favourite show.
The response got me thinking. One of the things I enjoy most about writing this blog is taking a subject I care about and breaking it down into a ranked list. Lists are fun. They’re easy to follow, they encourage discussion, and they force you to think carefully about what truly deserves to be at the top.
So, I’ve decided to make countdowns a regular feature going forward. Don’t worry, Mortgage Advisor on FIRE isn’t suddenly turning into BuzzFeed or Bored Panda. The focus will remain on personal finance, investing, financial independence, psychology, and the various random topics that catch my attention. But from time to time, I’ll be putting together a ranked list on a particular subject and explaining not just what made the list, but why.
For this latest countdown, I’m tackling something much closer to the heart of the blog: the best financial advice of all time.
This isn’t a list of clever investment strategies, stock tips, or complex tax planning techniques. In fact, most of the advice on this list is remarkably simple. That’s because the best financial advice usually isn’t complicated. The challenge isn’t understanding it; it’s consistently applying it.
Some of these lessons are centuries old. Others have been repeated by investors, financial planners, and ordinary people who have quietly built wealth over decades. Yet despite their simplicity, they remain as relevant today as ever.
So let’s begin with number ten.
10. Know Where Your Money Actually Goes
If there is one piece of financial advice that almost everyone needs to hear, it is this: before you try to change your spending, understand your spending.
It sounds obvious, but many people have only a vague idea where their money goes each month. They know roughly what they earn, roughly what the mortgage or rent costs, and roughly how much they have left in their account before payday. Beyond that, things become surprisingly fuzzy. Ask someone how much they spend on takeaways, subscriptions, coffees, Amazon purchases, or impulse spending, and the answer is often little more than an educated guess.
The problem with guesses is that they are frequently wrong, and I have seen this time and time again with people who come to me about their mortgage. I’ll ask how much is being spent on takeaways, for example, and when I try to verify this on their bank statements, the two figures are often wildly different. I don’t blame or judge people for this. As a species we are generally poor at estimating this sort of behaviour.
When people decide they need to budget, their first instinct is often to start tracking every penny they spend. They download an app, create a spreadsheet, colour-code categories, and enthusiastically record every purchase. For a week or two, they become the model of financial discipline. Then life gets busy, the tracking becomes tedious, and the whole system falls apart.
Even when people stick with it, there is another problem. The moment you know you are being monitored, you change your behaviour. It’s the financial equivalent of stepping onto a set of scales every hour. You stop buying things you would normally buy. You become unusually careful. You don’t capture your real spending habits; you capture a temporary version of yourself that is on its best behaviour.
A far better starting point is often to look backwards when you were not being monitored. You wouldn’t set a weight loss goal without knowing what your currently weigh.
Go through the last three to six months of bank statements and credit card statements. Don’t judge yourself. Don’t try to justify anything. Simply observe. Where did the money actually go?
This exercise can be uncomfortable because it replaces assumptions with evidence.
You might discover that the occasional takeaway you thought cost £50 a month is actually closer to £200. The streaming subscriptions you barely notice add up to another £50. The quick trips to the supermarket somehow total several hundred pounds. Those little purchases that seemed insignificant in isolation suddenly reveal themselves as a meaningful percentage of your income.
Equally, you might find pleasant surprises. Perhaps you’re already spending less than you thought. Perhaps your finances are healthier than you realised. The goal isn’t to find reasons to feel guilty. The goal is to understand reality.
This is where many budgeting articles get things backwards. They start with the question, “How much should you spend?” when the more important question is, “How much do you currently spend?”
You cannot create a realistic financial plan until you know your starting point. A budget built on wishful thinking is doomed to fail. A budget built on actual behaviour has a chance of succeeding.
The beauty of this approach is that it also highlights your priorities. Every pound spent is effectively a vote for something. Looking through your statements reveals what you’ve been voting for with your money. Sometimes those votes align perfectly with your values. Other times they don’t.
Maybe you say travel is important but spend more on takeaway food than holidays. Maybe you claim financial independence is your goal but discover hundreds of pounds disappearing on purchases you barely remember making. These aren’t moral failings. They’re simply useful pieces of information.
Once you understand where your money is going, every other piece of financial advice becomes easier to apply. You can identify areas to cut back without feeling deprived. You can increase savings without guessing. You can make informed decisions instead of emotional ones.
Most importantly, you stop operating on assumptions.
Financial success doesn’t begin with investing, side hustles, or finding the perfect savings account. It begins with awareness. Before you worry about where your money should go, take the time to discover where it’s already going.
The answers may surprise you. They may even change your life.
DISCLAIMER
The views and opinions in this blog are my own, and do not represent the views or opinions of my former, current, or future employers, nor should they be considered advice.
If you want personalised financial advice, seek an appropriate professional. If you are in financial difficulty, seek advice via the resources below:
Biolink
You can now find all my social media pages by checking out my Biolink:
bio.link/davidscothern.