Retire from 8 to 5 

Another good month, after April 2024. It is rare that we get two months back-to-back with no additional expenses, and only have the regular work and child-care costs. It will not take Nostradamus to predict that we cannot continue this positive trend for much longer and the tide will turn in June.

A couple of comments on expenses –

• Savings pot is at the highest ever >54% (i.e., more than one person’s full paycheck). This is highly unique and because in April 2024 the tax year restarts and individuals start to get normal £12,000 standard deduction. By May 2024, HMRC’s fancy algorithms predict we will not gain the full benefit of the standard deduction and slightly reduces the tax in May. Every month this tax paid will fluctuate a bit, leading to paycheck variation. This month, we benefited from it. Next month, highly unlikely.
• Let’s talk about Spa at 1.6% – S had a birthday and a “spa day”, i.e., a 3hr massage/facial/sauna at Birmingham’s super nice Luenire Spa is her annual gift to herself! Being deal seekers, S is not dumb enough to pay full-price and got her massage at a very good deal, i.e., 50% of website prices! This year’s outing left S feeling much more rejuvenated, and S has now decided we will now have a “self care budget” each month. We are not really sure what number to use for this budget, so we will probably start with £50 a person, and this will likely cover the cost of an hourly massage each month. With a 15kg toddler riding us like horses, it is likely this self-care budget will help us over the next 15 years and keep us healthy.
• In mid-May we also made a trip to see S’s sister and her family in Edinburgh. While we paid for these tickets in April, there were still some miscellaneous travel associated expenses – restaurants, taxis, gifts, etc. which are to be expected.