Personal spending plan Update March - Up up up and away

Here is where we'd typically have the update on expenses for the month. There will be a bit of an interruption over the next few months there will be no spending plan updates. What you ask, why will there not be any updates?

Travelling and the "mini-retirement"

Those of you who are familiar with Tim Ferriss will possibly know about the "mini-retirement". What does the mini-retirement have to do with there being no spending plan updates? The key person behind Money Glee (Jef) is taking 5 months off work returning in late August 2017 and taking off to Africa.

Why are you taking off to Africa?

Being 27, heading towards my 30's and bigger commitments like kids, it feels like a great time to take a break out, I love travelling and there was a break between contracts and work for me as well. We often wait until we're "retired" to take off and for some of us this may mean we'll be in our 60's after the kids have left the nest. What this can mean is that our health is not what it used to be and we may not have the financial resources. While it's a big plan to be FIRE (Financially Independent Retired Early) by 40, it's the Money Glee philosophy to make money work for you rather than you working for money.

Where about's are you going?

It is possibly easier to tell you where I'm not going although I'm heading across to a few different parts of Africa, including countries:

  • South Africa
  • Ghana
  • Egypt
  • Namibia
  • Botswana
  • Zambia
  • Zimbabwe
  • Uganda
  • Tanzania
  • Kenya
  • Malawi

As you can see heading to a few places and will be doing some volunteering in Ghana and climbing Mt Kilimanjaro in Tanzania too.

 

What does this mean for the finances?

Great question! Without getting too deeply into it, not receiving any pay for 5 months is not going to be a positive for the finances. It will cost me less living in and touring in Africa than what it would cost back in Australia. The big focus once I return is going to be on getting back into office life, build up those funds and invest, invest invest.

You'll still see 4 - 5 blog posts per month however there will not be any monthly spending plan updates.

Now that we've got this update out of the way, what longer term travel have you done? What has stopped you? Where will you be going in 2017?

Did this help you? If so, please share!

Remember to live your Money Glee