Lesson 2: The Best Way To Add Value
Let’s talk about the very best ways to add value, because new investors often get this wrong.
Q: What Is Your Financial Freedom Figure?
In today’s lesson I asked you to work out your Financial Freedom Figure.
This is the minimum amount of money you need to bring in each month to cover your bare bones outgoings. So it shouldn’t include dinners out, holidays, treats etc.
If you can leave your answer to this question in the comments section below, that would be wonderful, because we’ll be coming back to this in lesson number 3.
Lesson 1
Yesterday
Lesson 2
Today
Lesson 3
Tomorrow
3000 pcm
6000Ā£ pcm.
Ā£2500
Ā£4000
Hi Tony, I’m really enjoying your videos, thanks for all the great content.
Our target would be Ā£3,406.81.
I LOVE the accuracy of that number!!!!!!! š
I have worked out I would need Ā£3,500 as my financial freedom amount.
That’s excellent Wila š
Ā£1200pm financial freedom figure.
1950 pm
Thanks for commenting Petru
LKR 100,000 as I live in my own house and I have my own car
Hi Tony,
I’ve counted all my the most necessary spending excluding any dining out or pub gigs, just making my living and paying my bills. It came to Ā£1648
I LOVE the accuracy of that number š
I’m thinking about Ā£5000 PM would be nice
Thank you for that Emerson, but can I respectfully suggest that it would really help you to “accurately” work out this amount… and please be as accurate as you possibly can be.
Hello Tony,
My figure would be Ā£2,000.
Cheers,
Veronica
Surprisingly, or not so surprising – as a single male who lives quite minimalistic, I would really only need Ā£934 pcm to live the way I do now. Including the cost of a mortgage/rent. Which would ultimately pay itself through rental properties. Very cool!
That’s very achievable Tristan and I wish you every success getting there š
For both me and my wife to quit or jobs which would be the final objective, circa Ā£3,000.00 net.
Hi Tony,
Ā£1000 is all we need – excluding treats and holidays. Enjoying the videos.
Lee
Hi Tony
My financially free amount is 5000 a month.
Hi Lettie – and thank you for your financial freedom number š
I would need 2476.20 and if i applied the 4 laws of financial property I could reduce even more. I do put away 10% of my salary for investment every month.
I LOVE the accuracy of that number š
I worked through the figures and the number I have come up with which is the very BASIC minimum number to exist and it’s Ā£2520.55. This includes the money I put aside in a separate account for food (this may seem strange but it means we don’t go over our food budget every month, especially when we shop when hungry).
This figure seems high and one property advisor told me that it will take me between 5-9 years to be financially free! This seems such a long time to me.
Thank you for this free content Tony, it really is invaluable and extremely helpful, already looking forward to the 3rd lesson.
Steve
I LOVE the accuracy of that number! Thank you for sharing it Steven.
I was able to achieve financial freedom in 18 months, so personally, I’d suggest 5-9 years is a bit on the long side.
I think my first attempt went somewhere else.
With my current commitments and outgoings I would need to clear Ā£2400 net pcm.
I could at a push tighten belts and get down to Ā£2000 but would be having to watch the pennies closely and thereās no fun in that.
Hi Jamie – I think your Ā£2400 is a very acceptable number and with some real effort, perfectly achievable in a short(ish) space of time. I wish you every success in getting there š
3,000
Ā£2000
With my current commitments and outgoings I would need to clear Ā£2400 net pcm.
I could at a push tighten belts and get down to Ā£2000 but would be having to watch the pennies closely and there’s no fun in that.
Hi Tony,
Brilliant videos!
I currently spend approx Ā£1,500 per month on mortgage, bills etc. Although that does include Ā£120 to investments. I also put 21% of my wages into the company pension, as that is my current chosen path to attaining FI. Hoping that with your help I can get there sooner with property though!
Well I wish you EVERY success moving forwards Julie š
Hi Tony,
Thank you for great content. My financial freedom number is 1.625 GBP (net after tax – monthly) or 19.500 GBP yearly.
All Best,
John
I love the “accuracy” of that figure John – thank you for sharing š
I think I’d be looking at about Ā£700 per month on a relatively tight budget, excluding most hobbies and leisure activities (about Ā£8000 per year).
Hi Laura-Jane… thank you and that is very achievable.
Hi Tony,
Thanks for the great video. Full for great things to spot when walking around looking for potential properties.
My monthly figure would be Ā£1860 to cover mortgage, bills, food, phone, petrol etc. Anything over this i reckon would be a icing on the cake
Thanks Henry – both for your kind words AND the accuracy of that monthly figure š
Ā£2422.56 is my financial freedom figure.
Covers the bare bones minimum for me and my family.
I LOOOOVE the accuracy of that figure!!! š
Hi Tony I would like to earn Ā£40,000 a year for next five years until retirement pensions kick in
Hi Angie, thank you for your comment, but the point of the exercise wasn’t to share what you would like to earn, it was to share… as accurately as possible… what your monthly outgoings are and to ideally be as accurate as you can with this number. I appreciate this requires a bit of work, but honestly, it’s worth it, because you then have absolute clarity on what your “Financial Freedom Figure” is. I’d encourage you to have a go at working this out.
I hope that helps and good luck š
Oh sorry Tony, here goes:-
we budget Ā£4000 a month to cover mortgage and bills in our joint account. I would like to cover half of that for my share at first in 12 months then all of it in 5 years so that my husband can give up work too.
That’s wonderful Angie – thank you for sharing š
2k pcm would be great, I dont want to quit my job. I see that as a side job.
PS thanks for sharing !
That’s great Nick – thank you š
Ā£430 for rent – house share in Cornwall bills inc
Ā£120 for food
Ā£120 for fuel, insurance, tax
Ā£50 Phone
Total -Ā£720
Probably need to earn slightly more than that for non essentials like gym, vehicle repairs, dentist etc but prefer living frugally.
That’s brilliant Tom – thank you š
Hi Tony
I would need 1650 mth.
Thanks
Great presentation again. I think we would need about Ā£22,000/year to keep essentials (and family!) together. No treats, but car on the road, and essential living (and household running/maintenance) costs covered.
Kind regards,
Nick.
Hi Iām 22 I own 2 flats and want to buy more. I earn about 350-400 per month from my 2.
My aim is Ā£1200-1400 a month
About Ā£1260
5 k a month would do it, returning from the UAE and need to keep busy, without digging into our savings ( family of 4 BTW). Great content so far, easy to follow, and productive…
Thanks Julian š
Ā£2800 a month would do for me to maintain the family. Mind you expenses keep going up everyday…Could retire overseas with less money in the pocket!
Id say about Ā£3 -3.5k. That wouldn’t be retirement money as it doesn’t meet myself & my wife’s salaries, but it would go along way towards the goal of a mortgage free retirement and decent passive income. Or one of us retiring early to concentrate in property is suppose.
That’s perfect – thanks Steve š
Hi Tony
I would need 1650 mth.
Thanks
Hi Toni,
My current figure is about Ā£2000.
I am yet to buy my first own property. My aim is to get into PI as soon as possible and for that i need a lot of guidance. Questions such as where to buy? when to buy? investment property first or residential property? How to start with little deposit upfront? etc…
I completely understand Richard. Can I be so bold as to suggest you might find my Online Property Masterclass program VERY helpful as it extensively covers the points you mentioned – plus a ton more š
Ā£1800
I own an apartment in Amsterdam and I am making around 500euros in profit from rendering it out. Before Covid I was able to make around 1000 per month by renting through Airbnb.
I am trying to but a property in London now.Trying to find an upcoming area not too far away from the centre.
I think to make the ends I need around 1500 per month.
Thanks for sharing Marina š
Ā£1400
2k a month
1800 per month, at a squeeze.
Ā£3k per month minimum for me, current earnings are above this currently so wouldnāt quit my work for this, but still if I were to be out of work suddenly this would be my āsafeā number
That’s great Mark & thank you for sharing š
3000Ā£ / month
Currently would be Ā£1600 if I had to go back to having to pay rent. Live with family at the moment as my job takes me all over and I frequently live out of hotels paid for through work.
Thanks Graeme – that’s a very achievable figure š
I would say around Ā£1,800
2000 per month
I would say Ā£2,500 as a minimum but closer to Ā£3,000 would be more comfortable.
Hi Tony
My figure would be 1850 a month then upto Ā£2700 a month for my wife to give up as well
Enjoyed ur videos
I love the fact you’re considering both yourself and your wife here Paul… I wish you every success in getting there š
Ā£800.00 a month as I live with my family
Thanks Rich – that should be a very achievable sum š
Would need 1500 per month for basic needs.
Ā£2500 without any other major outgoings would a comfortable number.
That’s very achievable Sheraz – and I hope you manage to get there is 2021 š
Ā£2000 which is below current earnings, but would mean we could live with a little spare
we (2 people) live on around 400 sterling a month. That includes rent, bills, transport, food (eating out twice a week) and the occasional drink. I live in Indonesia.
I work part time, but I would like to cut my hours further and take more breaks. Initially I’d be very happy to have 500 quid coming in to enable that, so that would be my first target.
Well, that’s incredibly reasonable š
2000
Hi Tony.
I think 7-8k AUD/per month is required to live in Australia.
if I get it out of my daily job, I could retire.
Roger
Hi Tony. I think I could get away with about Ā£1800, this includes over payment on my mortgage which I am very keen to keep up.
That’s great to hear and very achievable š
Hi Tony. I am from South Africa and would like to commend you on very Good content.
I am working on a 5 year plan and will definitely implement your strategies.
My number is Ā£2000 (converted from SA rand).
Thanks Gakeema – that is wonderful to hear and I wish you every success in 2021 š
Cheers for that Tony. Ā£1200 would cover bills and keep me alive but just covering bills and maintaining my existence isnāt freedom… Ā£3000 per month is the target… with a bit of luck and moderately hard work, Iāll get there in 5 years.
Hi Lewis, we want to do a little more than “keeping you alive” š
So Ā£3000 a month it is…………. a very reasonable target š
Very good content, my figure is Ā£3K
Ā£1200 month
Bare minimum would be around Ā£800 a month and that includes running my car which I use to commute to work.
I have to say walking around the area is definitely worth doing as even being a bus driver in Bristol, I’m always on the lookout as I’m driving a 40+ hours a week.
That’s awesome Simon… I wish you every success for 2021 š
Thanks so much for these excellent talks. I’ve looked at our household budget to come up with my financial freedom figure. My housing is connected with my job, so if I left that we’d have to start over and we have three growing children….hence my target would seem quite high at Ā£50,000 p.a. or Ā£4,1667 pcm…I’m a bit embarrassed by that, but hey, few will actually read this and honesty is the key here, right?!
That makes total sense Tim – thank you š
2300
About 2k
I need Ā£2000 to cover all my bills and eat.
Thanks Muz š
Thanks for the insightful lesson Tony. I am well versed with all the information however waiting for the right opportunity and a good deal as lost money in my past investment. The figure that comes up for me is 3500 a month.
Very interesting and insightful video Tony – thanks for sharing. These 12 tips do make a lot of sense. Walking on the street and spotting potentials of different houses must be a lot of fun too!
To answer the question, I think it would be 2000 pounds with food, insurance, bills, mortgage, kids education, but excluding cloths, entertainment and travels.
1600 would cover my essentials
That’s great Louisa – thank you for sharing š
Ā£1600 minimum
3000k a month will be a good starting point.
Really enjoying your ‘lectures’ professor..2k per month I need to cover rent, car, food, bills and payments to EX.
5k per month, would that be achievable
1360 pounds per month for two people. We haven’t children’s or pets if we will so this sum increase š
Thanks Sandra – that’s great š
Ā£2406
3k pcm would be amazing š
Ā£700 as a rough estimate.
Hi Tony,
I think your attitude is phenomenal (something I value MASSIVELY while Iāve been looking for somebody to teach and mentor if me when it comes to property investment)
I believe after doing the numbers I would need a base of Ā£1200 to live, pay off bills. Iām only 23 and no children or responsibilities, but I do āpay my wayā and currently work as a car sales executive, which currently hugely exceeds my outgoings, however I couldnāt picture anything better than financial freedom and leaving my job, so if living on 1200 is my target then I cannot wait to get started, Iām currently building my capital so that I can start, and I would like to ask, does your main course help with terminology, how to build capital and if you will, the small things you need to learn to get into property investment? As I am BRAND NEW! I would love to know, once again, after all of the searching I believe you are by far the better person to teach and help with her manner and attitude, looking forward to tomorrowās lesson!
Wow…. thank you so much Rob and I wish you EVERY success for 2021 š
Hi Ā£3000 after tax but I also need to be thinking of paying down the capital on the properties as they will be on interest only mortgages so do I need to allow for this in this figure too?
Ā£3000 to cover bills Ā£5000 to enjoy the lifestyle i have now.
Hi Tony, excellent video. I feel Iām learning.
Family of 3, Ā£3000
That’s great Jorge – thank you for taking action on this š
In accordance with my study, after a foreclosures home is offered at an auction, it is common to the borrower to still have a remaining balance on the loan. There are many loan merchants who try and have all service fees and liens paid back by the future buyer. Having said that, depending on certain programs, polices, and state laws there may be many loans which are not easily sorted out through the transfer of lending products. Therefore, the responsibility still lies on the borrower that has got his or her property in foreclosure. Thanks for sharing your notions on this website.
Thank you so much Tony appreciate the knowledge you share
Ā£5,200 per month gross.
Ā£3000
Hi Ā£3000 after tax. Do I not need to be paying capital down though too as mortgages would be based on interest only?
Ā£1800
Ā£2,500 after tax for me in order to pay my mortgage and living costs and have a bit left over to save.
Ā£2500
Wife, two children and two cats. mortgage, bills, two vehicles, school fees and weekly shop
Excellent James
Ā£500
Hi Tony,
Been in the forces this is the retirement plan. I will be out in 10 years with no civilian qualifications as such. So I am aiming for Ā£3000 a month to cover both me and my wife to enjoy an “early retirement”.
That’s excellent John and I wish you the very best of luck š
Probably 1K for the first year and recalculate afterwards
Ā£3500
Thanks Tony for a very useful and informative video.For me this would be about GBP 2500. I look forward to lesson 3.
Thank you Vira š
I would say 4000
1500 for me. Thanks for video
Ā£1300 per month. Thanks for the video.
Ā£2000 for me
Hi Tony, I think Ā£800, i’d have to go into a self imposed lockdown excluding all treats to hit this figure, but it would be achievable for me.
thanks
Thanks Rob š
Hi Tony
Great content as always.
Ā£2500 per month
1700
I think Iād be looking at Ā£2000 a month right now
2500 right now ,1500 after 5-6 years ( I presuming I`ll be out of work)
Excellent Mark š
Right now Ā£500….Next year I would estimate Ā£8-900
That’s excellent Lesina š
Ā£2000. Pay my mortgage & my living costs
It would take me 2800 a month after all child care and house whole bills van insurance and on road costs.
Excellent Oliver – thank you for sharing š
It would take Ā£2,000 per month for me, my partner in the arenaās we are looking to live in + essentials.
Ā£2000. Pay my mortgage & my living costs
$1,050.58
Ā£2500
Will cover
Loans , mortgage, fuel ,car payments
Insurance, food.gas and electricity
About $1,500 a month would cover mortgage, car insurance, cell phone, internet, food to cook at home and gas/electric
That’s great to hear Dawn – and very achievable š
Ā£1,300 per month
1600Ā£ would be fine to me.
Hi Tony. Thanks for your great video’s and advice. I think a net Ā£1600 would get me excited to see the possibility of leaving my job in the future.
Thanks for sharing Leo š
Tonny your videos are fantastic.
Do you provide personal mentorship
Thank you so much! š
Yes… Just go to: https://yourfirstfourhouses.com/coaching/
For me, I would need to clear all my essential monthly household bills, loans & food costs. That figure would be Ā£2150, living in outer London.
2200 per month would be enough for me to live financially free.
Great content Tony!
Ā£3500 would cover existing outgoings on the essentials of mortgage, utilities, food, clothing and cars. But in truth, I wouldn’t ‘free’ until I could at least replace my existing income which is more.
Ā£2000 would cover existing bills on rent, utilities, food, car and clothings. I would be free and invest most of it.
I could effectively quit my actual income from my job. I am looking forword for this moment.
Thank you for sharing Edna š
Ā£1300 p/m
With my current very high mortgage and outgoings, looking at min 4k a month
That’s fair enough – and thank you for sharing š
well mine is 0 at the moment, as im only 17 and attending college.
well mine is 0 at the moment, as im only 17 and attending college.
Mine will be Ā£2500 and I will leave my job
Ā£1500 is about it really, i don’t think we could cut much more fat off that.
That’s a good sensible figure Francis š
Ā£1200 per month would be my figure – it would allow me to consider taking a step back from full-time teaching and work as a supply teacher whenever I wanted, bringing no work home with me in the evenings and having the flexibility to take a term or two off if I wanted to focus on other things (or the property business). Essentially I would be able to work for enjoyment and satisfaction rather than out of necessity, which is my goal.
Excellent Andrew
Well in my country I can survive at Ā£700 with home budget and schooling of children’s, routing commute and proper electricity for hot weather, etc. But usually, our inflation rate increases very quickly so no idea maybe another year, and then it increase more, but this figure is in Pounds so its value will also increase so this is good figure for another 5 years.
I was curious to find what would be average for UK people to live, and remove all small and very high figures than I find out average Ā£2150 is something real amount require to leave at least peace full life in the UK.
650 is the min. The ideal min income would be around 3k – how long do you think it might take to get there
Thanks Emil. How long it would take you to reach Ā£3k pcm is, of course, difficult to know because it depends on a ton of variables.
200Ā£ thatās mine
I meant 2000 thatās mine
Thank you for the great videoās. Iād be financially free having Ā£1300 to myself every month no rental payments no car payments etc., really would make a huge difference Iām sure.
Ā£2300 with the commitments i have now. With time this could be lowered to nearly Ā£1500 but why sacrifice š¤·š¼āāļø
That’s great Gary – thank you for sharing š
Hi Tony
My figure would be Ā£3.2k per month as a sole earner of a family of 4 (and a dog) š
Thanks for all these incredible videos.
My figure is 1658.28p this would mean that I could pay all bills which would then allow me to reduce my hours in employment to concentrate on my portfolio.
Ā£3000 is my financial freedom number
Ā£1600
Thanks for sharing nice information, my monthly expense is 1400
Hi Tony,
Thank you so very much for your videos which are very interesting and informative. 1800 is my monthly expenditure. could you also try to make some videos on commercial property and warehouses.
Good idea Nag – and thank you for sharing your figure š
My Financial Freedim number =I would say something between Ā£2000 to Ā£2500 (say Ā£2200) for family of 4 ( 2 kids + wife ) for city like Edinburgh.
Current mortgage; fuel; grocery; car loan; utility Bills; Child classes & activity ; 2 or 3 mobile; Broadband + Misc
Thank you for responding Puneet… this is a clearly well thought through figure š
Ā£1,500.
Savage vid, a reality check for everyone that watched it!….
Honestly my goal would be Ā£1500 covering all living expenses for me and my son….
If you are reading this and are interested in a JV or general chat about helping each other drop a comment….Iām young driven and always happy to help forward thinking people who simply would like to be financially free…peace āš»
Where do you live?
Hi Tony, really like the style of your videos, lots of info which is relatively easy to understand.
we would need about Ā£1351, which includes a loan and a Spanish mortgage!! Which is one of my ‘Whys’ Also the fact that I’m now 60 and realise my pension is just not going to cut it!
Thanks
Paul
Thank you for working out such an accurate number… that’s excellent š
Hi tony, do you think itās possible to bring in Ā£4K per month with Ā£160k cash to play with?
Yes……….. But not immediately. You’d need to do some initial work with your capital first.
A few weeks ago (During lockdown) I went through all of my DDs and found that I am spending approximately Ā£400 a month on bills. If I add 150 a month on top of that for a contingency fund plus Ā£100 food and diesel my basic F.F.F would be Ā£650.
That’s excellent Robert š
I think my financial freedom amount is 4300 per month.
I’ve just started watching your videos Tony and it’s been a revelation to realise I am in position to start investing in rentals and putting my savings to work – thank you!
I could ‘survive’ on around Ā£1200/month but Ā£1500/month is more realistic for the two of us. Council Tax is the killer for me at Ā£200/month but I’ve already managed to lower the band from E to D by comparing it to surrounding properties, otherwise it would be more.
Keep up the good work, and thanks for the inspiration!
Thank you for sharing Charlie š
I think ours would be around
3k a month.,and that would be bare minimum …. two kids two dogs and we live in Hove..š¬
You live in a beautiful… BUT EXPENSIVE… part of the World… but Ā£3k is very much achievable š
Ā£368 a month if I skip a meal every two days
š
Iāve been working on clearing unnecessary costs for a while now and could manage on around Ā£1250 pcm
Thanks for all the info you provide trying to cram in as much as possible
That’s great Ste – and VERY achievable š
2200 pcm
mine will be 3k to financially free but 500 montly will good for a start plus my salary until I build up 3k
Thanks Tony
4500/month
Ā£2.5K per month to be honest
No mortgage, no debt and K1,250 per month income.
i would currently require approximately Ā£950 PCM as I live a relatively frugal lifestyle.
That’s great Mark š
Hi Tony
Thank you for the info on these courses they are very helpful.
My financial freedom figure is Ā£2000 per calendar month
Hi Tony.
Thanks for the videos, much appreciated.
My bare minimum financial freedom figure is Ā£1600, covering mortgage, bills, food etc. That is for both myself and my wife.
Look forward to lesson 3 š
Hiya Tony,
Yet another great video. Thank you for sharing.
I have spent some time thinking about this number and going through it with pen to paper and after all the thinking, writing and a lot of adding my number to be financial free would have to be Ā£2000 per month and that number would have to increase by a minimum of 4% annually due to inflation.
Thanks
Dev.
That’s great Dev – thank you š
I’m mortgage free so my financial freedom figure is approx Ā£800 per month. This would allow me to quit my day job. To allow both of us to quit we would need Ā£1600 per month.
Ā£1000 is my financial freedom number currently. š
I will need Ā£2,800 after tax each month.
For both me and my partner it would be Ā£4000 per month.
Ā£11000/month
My figure would be Ā£2000 thanks for the lesson
Ā£2500 although this does include Christmas money and small holiday money etc. Ideally looking towards Ā£5000
Looking forward to finding out about starting with little to no money. Otherwise may take a while to get started
That’s great, thanks Greig š
Ā£2000 a month.
Great to achieve more, but this would be sufficient.
Hi Greig
My figure would be Ā£2150 per month.
I need Ā£4500/Ā£5k pm.
To live with out to much
Worry.
Mine is Ā£5000 pcm
My figure would Ā£550 per month
Wow, that’s a very economical figure – excellent š
I donāt have any serious responsibilities yet, so Iād say Ā£20,000 right now.
At the moment its Ā£1600 but were renting and if we buy a house outright i can deduct Ā£500 so it could be Ā£1100 a month.
Thank you for sharing Richard š
Great video Tony thanks for the tips will try one of your courses
Regards. Kit Barker
3K to cover expenses and lifestyle
The amount for us is currently Ā£2,251.15 but it is a bit flexible (we could probably shop around some of our insurances and assurances to bring the monthly outgoings down a bit). Although, we do have a third child on the way (that will be 3 under 4 years old, we must be mad!) so the number will change again!
I am really optimistic that the goal of becoming financially free is perfectly possible for our family, if we put our minds to it (and with your help, of course!)
Great videos, thank you.
That’s awesome Chris and congratulations on your new arrival! š
24 thousand pounds a month is my financial free figure
Do you mean a year?
Ā£2500 would be my figure, would be an absolute dream to be able to achieve this š
For me it would be Ā£2000 per month as my house is already cashed out.
Hi Tony great course. My figure is Ā£3,500 per month.
1200 pm
Great lesson today
My figure is Ā£2000
Hi Tony, my figure would be Ā£2200
Hi Tony,
Thanks for your ever resourceful free webinars!
The amount for me will be Ā£6000.00 per month.
Thanks Joshua š
For me Ā£2250/month would do.
Really enjoying this mini course, very helpful. Realistically I would say Ā£1800 a month for bare minimum. But if Iām honest, this figure would be very frustrating to live on with a big family with extra curricular activities.
Ā£4500 is the magic figure.
My income is 1,200 per month.
I spend 335.22 a month before holidays, treats ect.
This leaves me with 864.78 a month spare.
If I was in the UK then 3000 GBP would be sufficient , last time I worked in the UK I needed that much to scrape by , there are lots of small things that add up , even public transport is on the increase.
Thanks Adrian š
Ā£2000 – Ā£2500 for me
Currently, 2200 a month with 4000 kept annually for a broken boiler or sorts.
This is for just 2 of us…
With family growing in 2-3 years 3200 and then 4200 by year 10 from today…
That’s great Shreyam – thank you š
3K, would be my number. A wife, 2 teens, a 23 year old, a grandchild and of course a dog. That would be the bare minimum excluding all luxuries.
Thanks Barny š
3500 GBP is something that would fit my Family needs ( including the rent of a house to live in)
Hi
Considering my outgoing we think we need minimum Ā£2800 per month.
Hi Tony, great videos. I love watching videos which makes me dream big. My Figure is Ā£2260
Thank you Lui
I can live a comfortable life with HKD 30000/month.
Hi Tony. Great video yet again. After discussing the out goings with the wife our total to be financially free would be Ā£1051!
WOW… I LOVE the accuracy of that number! š
My number is 4000Ā£
Excellent video – doable.
Ā£2000 tax free.
Ā£3000 will be what Iāll need to quit my Job
Many thanks Tony for everything. For the lessons and emails reminding me to watch the videos. I really appreciate and keen to learn as much I can with your course.
My financial freedom figure monthly is Ā£2500.
Hello, Enjoying the videos so far thank you. Can I assume that obtaining mortgages is based on a current employed income as we are self employed. I have not looked at normal mortgages yet but buy to let up to 70, being just a tad over 60!
Income bones around 2500.
See you in video 3
Thanks Amanda
Ā£2500
My expensive would be around total Ā£1600
Ā£900 is for security and safety.
Im grinding now, give me 2 more years
100%
Excellent š
2500
Ā£1900
hi tony, my figure is Ā£5000 I am sure I can earn it in property business once I step into the property business, I am watching your videos and trying to learn about property investments and the strategies , good luck everyone
That’s great to hear Abid and thank you for your number š
Good morning Tony,
Would like to start by thanking you for this free content as it is really helpful. I think for myself to be financially free, it would be around Ā£2000 a month. I’ve set myself a goal that in 10 years time, I would like to be earning Ā£5000 a month.
That’s great Connor – but I would most respectfully suggest 10 years is WAAAAAY too long as a time scale š
I would need Ā£1200 to cover basics. I’m surprised it’s so much. Thanks for opening my eyes! Looking forward to the next lesson.
Mine would be Ā£5000 per month
Hi Tony
Mine is Ā£2700 per month
My would be Ā£1500 per month
CAD$10,000 as of today’s expenses and savings, this figure will completely give me a financial freedom for me & my family.
Once I achieve this figure, that day I can quite my Job.
Thanks Antony – that’s great š
My freedom figure is around Ā£800 per month with current circumstances. Living with parents but work 200 miles from home with only a few bills per month.
3k monthly
Mine would be Ā£2000
3k
Ā£1300/ month
I would need Ā£3k per month, to be comfortable
Hi Tony, thank you for the content. Mine is 3K for basic. Currently have around 20K and have a personal mortgage but looking for the right opportunity to start investing in property.
Ā£2000
UKPDS 2,000
i need 3K a month co cover rent, bills and food
Ā£1400
1500
1k a month to cover my basic needs
Hi Tony, thanks for all the free content. My figure is Ā£2500 a month, which I have already hit, so now Iām focussed on money to live off after all expenses and my next purchase will be a buy, refurbish, refinance. So your videos are very helpful, thank you
That’s great to hear Steve š
I forgot to mention itās taken me 12 years to get to this point with a very slow regular buy to let strategy, i wish I had used your approach earlier!
Ā£7000
My freedom price is $2500, hopefully after gaining knowledge from your course and continuing to educate myself I can be halfway there by mid 2021.
Excellent Ricardo š
Hi Tony
My figure would be Ā£1700 pcm
Thank you
Robin
Thanks Robin š
I need Ā£2500 to cover my expenses
My income is Ā£1,100
I spend Ā£900 before anything else.
Thanks Owen š
Hi Tony, thank you for all the free content you put out to everyone. You could easily charge an overpriced plan for this as the content is valuable and easy to digest! I’ve been searching for real valuable online lessons and so glad to have finally found someone genuine and knowledgeable. My living costs to quit my job would be 1750 per month. Thanks again and please keep up with the amazing content!!
Thanks so much Cian š
Iām spending 300-350 on my 1100 income , just spending on utilities, groceries & fuel ..still living with my parents with them covering the rent ..damn haha
That’s great John… as you’ll see in Lesson 3, you won’t need many properties to cover that š
Hi Tony,
Thank you for sharing this video,I think I will need Ā£2,300.00 per calendar month
Good Evening Tony
It will be Ā£1900 for me and a chance to be creative.
I have estimated my total spendings to be under 780 pounds per month. It seems far lower than most people commenting, I can only assume they pay much higher rent or have families to look after.
Thanks for the videos, I’m loving them.
Suzanne
That’s great Suzanne… and of course, you’re right. It’s important to disregard what others have written and only work out what YOU need… which is exactly what you’ve done! š
I need to earn Ā£3200 a month to be free.
Hi tony really helpful tips
I would need about Ā£1000 a month to cover my basic living needs.
Thanks Stan š
Hi Tony
Luv your teaching methods
I would need about 2500k to cover my monthly expenses
Thank you Alvis š
3k
Thanks for the course and the other YouTube videos
Very helpful and inspiring
Thank you Francis š
Hi Tony,
I would be really happy if I can earn 4k of passive income per calendar month in my first year of property investment journey.
That’s CERTAINLY doable Nelson š
Just under Ā£700 a month as I have no mortgage, loans or credit card debt. This does not include my going outs, holidays, clothes shopping etc…
Thank you Dee š
If I could get to Ā£3000 that would be a dream come true!
Hi Adam… Honestly, you CAN do it… it just takes one small step at a time and you’ll get there. I wish you every success š
Hi Tony,
My minimum figure is Ā£1200.
Thanks!
Hi Tony
Really enjoying this easy to follow course. My figure is Ā£2400 per month.
Thanks Satinder š
800+200+400 = 1400 per month
Excellent Feng š
4500 a month
I would need 1000 per month for basic living without treats etc
That’s great Anthony and relatively easy to cover.
3470
I love the accuracy of that number š
About Ā£2,500 I think.
I need Ā£2,593.32 per month. Thanks.
WOW… That IS specific! š
Ā£1,600 includes rent, bills, food/essential items & my car loan. Not including my savings/ investments, luxuries or travel.
Excellent Kay š
460 rent + 18 internet + 15 phone + 65 gas&elec + 80 tax + 150 food= 788
I got to pay for a loan of 100 + 100 council tax debts from previous address so 988 in total. damn . this is sad.
Thanks x
I think it’s actually great! You have a relatively small target to hit.. which makes it achievable… and you’ve been VERY accurate with your numbers! You’re to be applauded š
Ā£2000 = financial freedom
Ā£3734.48
Love the “accuracy” of that number š
I’m looking around Ā£1632-Ā£1882 for the FFF each month.
My figure is approx Ā£1800 for housing, bills and food.
At the very beginning of my journey and am loving the courses. Thanks Tony.
Thanks Fil š
Hi Tony my husband says I need to make Ā£2000 a month to contribute my half of our Ā£4000 a month budget to cover bills, mortgage etc haha! My personal goal is to earn enough equity to cover a Ā£40,000 pa salary as I am in-between jobs and really don’t want to work for anyone else until my retirement pension starts in 5 years.
Ā£3200
Bare minimum 1200
Mine is Ā£500
Hi… Is that the total amount you need to live on each month, including all bills?
Ā£3000
Tony Thankfully 1 am retired so 1 can exsist on Ā£1,000 per month..
Ā£1900
Ā£4999 per month target to be finance freedom
Could we round that to Ā£5000? š
š
Ā£1000 for housing expenses and Ā£400 for food; Ā£1400. I’m offsetting that Ā£1400 with Ā£450 Airbnb income and Ā£125 for my parking space. Does that make my number Ā£825 ? Or should I ignore the rentals so far and just see Ā£1400 as the magic number?
Well… I’d say your TARGET is Ā£1400, but that you’re already partway there… so only another Ā£825 needed to be “technically” financially free! š
Hi Tony
I’ve been living in the UK only for a couple of months now so I love watching your videos on how to get into the UK’s market as it’s completely different from what I’m used to. I would need about Ā£1805.
This might be a stupid question but the profit you make from refinancing your property, do you pay taxes on that? The tax involved with property here in the UK is what I’m mostly struggling to wrap my head around so it would be great if you perhaps know where I can educate myself more on it.
Kind Regards
Gabby
Hi Gabby… I love the accuracy of your Ā£1805 figure! š
Alas, I can’t talk about “Tax” or “Financing” I’m afraid as I’m not FCA approved. The best thing you can do is to speak to an Accountant. If you don’t have one, drop me an email and I’ll let you know who I use š
Ā£2000. Though I can see this changing with time and getting family and progression in my career would mean making more working than relying on 2k for financial freedom.
Hi Tony,
I’m starting my property journey and came a across your youtube channel
I love the your videos, the calm slow pace makes me understand better and save time! Short videos are awesome. So thank you!
For me I need to raise Ā£1285 to be comfortable every month. Excluding all extras..
I want to be free in the next 6-8 months. I have next to 0 deposit at the moment but I have time so I’m looking forward to your next lesson.
All the best!
Hi Maria – thank you for the accuracy of your Ā£1285 figure! š
Thank you very much for the informative information Tony! The answer to your question would be Ā£1400 for me. I guess I’ve just given away how much I can afford on other things š
As for the cost of refurbishments, I’ve come across a website that performs a general home renovation calculation. If you don’t mind, from your experience in the field, could you tell me how accurate these figures are?
Many Thanks
https://www.towergateinsurance.co.uk/home-and-property-insurance/most-profitable-home-renovations
To be honest, I just took a look at that website ad didn’t (personally) feel those figures were at all accurate… but of course, that’s just my opinion š
I thought so to. Most of the gains in value seem exaggerated.
My financial freedom figure is Ā£ 4000.
3K per month to live comfortably each month without excess spending on ‘nice to have’ things..
Ā£ 1430 pm needed to be financially free.
Thank you so much Tony for the useful content. I had previously worked out my financial freedom figure and it has been a game changer. I went from being unsure where to invest next to defining a strategy ans deciding what my next investment will be.
My figure is Ā£1059.50 and I need to make an additional Ā£199 from property income to get there. š
Wow, that IS specific! Love It! š
Thank you so much Tony for the useful content. I had previously worked out my financial freedom figure and it has been a game changer. I went from being unsure where to invest next to defining a strategy ans deciding what my next investment will be.
My figure is Ā£1059.50 and I need to make an additional Ā£199 from property income to get there. š
Ā£1300 a month would be mine. That includes, residential housing cost, food shopping and things like Netflix/Spotify. I would not want to be giving up the day job for that though as my actual living expenses can be a lot more. However, my target would be to cover that figure as that is my ānecessaryā outgoing.
Hi Tony
I would say Ā£10k as would like to replace my salary and have a margin for inflation as well as the general cost of schooling etc when I do have a family
Hi Tony,
Ā£1500 a month would be great for me.
Really enjoying this mini course!
Thanks
Thanks Charmaine š
Gosh, good question Tony and gets you thinking! Mine would be Ā£3500. I achieve that and the 9-5 job goes š¬
That’s great Chris – thank you š
I feel quite lucky having seen most peoples numbers. With mortgage car lease bills and food I would need Ā£875 per month to get by.
Iām just about to start my journey, this is very informative and inspiring… even if it is a little scary and overwhelming
Thanks
Well I wish you every success Andy š
Mine would be Ā£2000 per month
Hi Tony,
My figure would be 4K a month & would like to achieve this in the next 18 months
Phew!!! I finally watched both lessons..been really busy. Anyway thanks for everything so far, it’s been an eye opener.my monthly income has just gone up due to a new arrival in 8 months.so now I’m looking at roughly Ā£4000 pcm. Happy days.
Our outgoings including food, rent, council tax, utilities as well allowance for car tax, petrol, servicing as well are Ā£2950 per month! If we could cover that then would we would drop the day jobs š
That’s great to hear Joan š
I reckon Ā£2k per month just mortgage, food, all house bills and running of car.
I would say Ā£2800k.
2500
Ā£2000
Ā£2500k per month.
Thanks
Ā£3500
Ā£2641.86 is currently my financial freedom number needed
I LOVE the accuracy there Andre š
Ā£4105 for my house mortgage and 3 btl mortgages and other bills
Hi Edina… thank you so much for your comment, however, might I make an observation.
My suggestion would be to ignore the BTL’s just for a moment. Instead, perhaps work out EXACTLY how much you spend WITHOUT factoring in either the rental income from your B2L’s
or any costs associated with those B2L’s
(i.e. the B2L mortgages, gas safety’s, insurance etc.)
Once you’ve done this, you should have a figure that represents your total outgoings (excluding everything to do with your B2L’s)
Let’s imagine that figure is Ā£3000.
Now, I’m assuming you make a monthly positive cashflow from your B2L’s?
Let’s imagine that combined, you cashflow (monthly)… AFTER ALL EXPENSES (i.e. rental income… MINUS… the B2L mortgages, gas safety’s, insurance etc.) Ā£1000.
Ā£3000 – Ā£1000 = Ā£2000
So your number for this exercise is Ā£2000 (not Ā£4105).
I hope you will forgive me for diving in here, but I hope that makes sense š
Thanks for the vids Tony,
my financial freedom figure would probably be Ā£2300
2500
3000
Hi Tony
I would need 1,200.00 a month to cover my bare minimum costs each month.
Ā£1355.38
2000 per month. But I do rent a room in my flat so Iām 500 Already towards my Target š
Perfect… so your target is Ā£1500 š
Ā£2500
Hi Tony, I already have a single buy to let apartment and one HMO so I do have a regular rental income coming in. The problem I have is that I have run out of deposit money to buy my next property to turn into an HMO. My daughter is also about to start graduation college and I would love to pay for that so she does not have any debts when she finishes her course. An extra Ā£2,000 per month would see me cover all the expenses.
Thank you Peter – and I completely understand – sadly we ALL run out of money at some point – which is why in my OPM program I have a whole module dedicate to funding deals WITHOUT using your own cash š
Hi Tony
Great video. I have calculated that our family freedom figure is Ā£2375. Looking forward to seeing tomorrow’s lesson.
I LOVE the accuracy of that number! š
ā¬2000
Hi TONY
Ā£3000 made off property would allow me to pack my job in
That’s great Phil – you’ll see why I appreciate you doing this exercise tomorrow š
Thankyou for another great video, I haven’t thought about what figure I would need to be financially free just yet, I need to sit down with my partner and go though everything with her first and see if we can come up with a number, Thankyou for putting this in my head though, looking forward to the last lesson
Thank you John… and I really do feel it’s a healthy exercise to do š
Hi Tony,
Love your videos and appreciate all of the helpful tips. I’m from Ireland but I think the Irish and UK market is fairly similar (definitely more so than the Irish and American market). I would say my figure would be around ā¬3k per month for the bare essentials. I would love to work and travel while having the income of the property as well, that would be in an ideal world and it’s a goal that I’m going to aim for! Looking forward to Lesson 3!
That’s great Walter š
Ā£2500 would cover the must pay bills. Would need Ā£3000 in order to give up the day job fully though I’m looking to go down to 4 days for now so Ā£500 a month coming in would allow me to do that comfortably.
That’s great… particularly like the fact you’re looking to free u sometime by dropping down to 4 days š
Hi Tony…. I wish you was my mentor….lol
All your videos have been amazing, your personality and charisma are such a good motivator, I only wish I had your confidence….lol
My magic number would be Ā£4000 per month, because of London prices…
Thank you for your very kind words – they are greatly appreciated š
Hi Tony,
In my current situation Ā£4000pcm would be enough for my wife and I to live on.
Hi Tony, My freedom figure is Ā£2800 or better still Ā£3000pcm this does not include my wifes required freedom figure. If I am to add her figure as well then our combined freedom figure would be Ā£5000
Iād be happy with Ā£3k a month. Iām currently a first time buyer and feel like I really need guidance before deciding to get onto the property ladder. Everyone has been telling me different opinions i.e not to buy just yet, where to buy and Iām a bit overwhelmed. Thanks for your videos Tony!
I completely understand Kwan… Perhaps my Online Property Masterclass might help you? I briefly run you through it in Lesson 3 š
My bare bones number is Ā£3500
Hi Tony
Bare bones basic income would need Ā£1820
Lovely and accurate š
Bare bones, I could cover my outgoings and basic necessities with around Ā£2K per month
Hi Tony,
I do not have many financial outlays at the moment as I am living with parents, my current figure is Ā£629.48 but I believe 3k per month to be a realistic goal for when I have to cover more mandatory bills.
Cheers!
Hi Tony, everyone, I need approximately 5K/month bare bones mainly due to a large self cert. residential mortgage from pre 2008.
I would need approximately 6k a month, my residiential mortgage is quiet high from the old pre 2008 self cert. days. I too am an IT contractor with IR35 looming on the horizon. About to complete on a big house which I will convert to a HMO.
Ā£2500 is the magic number.
Ā£4000
Hi Tony
i’m living a minimalistic lifestyle at present .. Ā£600 pcm I could survive on
My first four houses are almost at completion, I bought my first bmv rental for cash then
refinanced after a refurb….don’t mind living in a cheap bedsit at the moment…looking at
the big picture,
That’s great to hear Tony š
Ā£2200
Hi Tony,
I budget Ā£1100 a month to cover our essentials.
My figure is pretty low it is Ā£1750 that’s with a massive buffer, in reality, I could be as low as Ā£1400.
I could reach my financially free number within the next 2 years as my assets are currently worth 160 – 170k with no mortgages as we speak but a 45K (90K Total) investment into both would add major value. from 170k to 320k which my plan is to release 100k tied up in equity to buy more houses.
I just need to build my power team
That’s great Eric š
Hi Tony,
First many thanks to you lessons and youtube programs.
I need around 2k per week to cover my kids school fees and our family expense.
Regards
Andrew
Thanks for responding Andrew and as you’ll see tomorrow, you might be surprised by how many properties you therefore need š
3k
Ā£3000/month
Ā£2700 would pay all our bills minus any luxuries.
GBP2500 PCM
Hi Tony,
I don’t have much outgoings, given that I work nine months out of a year in Afghanistan, and I am still yet to buy my own property. However, my goal is to come home permanently, and for this I would say that If I could bring in around Ā£4000 per month, I would be content.
I look forward to your next lesson.
Best Regards,
Russell
Thanks Russell – I hope you find the course helpful š
I would need around Ā£5600.00 which would cover a few mortgages(personal and BTL), childrenās school fees, bills and travel expenses. Another Ā£2,500 on top of this would enable me to go part time and give me some financial freedom.
PS thanks for all the great free content
That’s great Shak š
4K a month Minimum allowance time live on
About Ā£2000 a month would be a great figure for me.
Hi Tony,
I would say Ā£2,000 as that was the amount I earning before I lost my job a few months ago.
Cheers
Dennis
For my current situation Ā£1000 p/m would be fine.
That’s brilliant Matt – thank you š
hello Tony, The bare minimum for me is Ā£2554.50 to get by with a family with 3 wonderful kids in Surrey, I work very long hours in my business so the idea of being able to have more time for me and the family is the real driving force, been tracking every penny that leaves our household for the last few months in order to cut unnecessary spending…the other figure I have, the not bare minimum is shocking!!
Also thank you Tony, the content on your website and you tube channel have been a huge help to me and countless others.
many thanks
Richard
Wow… Thanks SO MUCH Richard – that’s very kind of you… and I LOVE the accuracy of your figure š
I decided several months ago that when I reach Ā£1000 per month after I start this I will quit my job, really strategically get by with that and focus all the time I have on my hands then to grow my property portfolio.
I’ll take a breather once I hit Ā£2000 per month and then come up with a bigger plan.
Personally… I’d LOVE for you to NOT quit your job – at least for now. Can I (respectfully) suggest that to build your portfolio whilst still maintaining your job is a GREAT way to do it. It takes off all the pressure AND keeps your credit rating high.
Only my personal view of course š
Tony my figure would be Ā£3000 per month.
I quickly worked out that I would need Ā£2103 a month for bare minimum. I also worked out that my FF figure including all hobbies/interests and lifestyle would cost Ā£4138.63 when i did i similar exercise end of last year!
Hi Lisa… this is great! Then I guess the figure interests me is Ā£2103 š
Needless you’re NOT going to stop at that figure I hasten to add… but hopefully this will make sense in Lesson 3! š
Good Morning Tony,
The number for me would be Ā£2955,00 plus food and petrol. I live in the south of England and paying the mortgage for my residential property.
Many thanks for your support
Perfect – thank you Damir š
Bare bones to cover bills and living is current Ā£2600 for my family and I in Kent.
The magic number for me is Ā£4k pcm. to pay the bill and live with the same standard. And thank you Tony for sharing the inspiring information.
BR/
AndrƩ
Hi Tony, I am from Kent and we need Ā£5334.88 to meet all our out-goings, which includes 2 mortgages (one residential and one BTL). We currently have a BTL with a net income of Ā£739.02, which means we have a long way to go.
I am about to start a rent to rent business, two propertiest already in the pipeline. I am hoping to net about Ā£600 from both properties.
Finanally, I am in search of two properties in Kent for an investor with a potential rent to rent as well.
Thanks for your free nuggets, it has added value to my strategies.
I love the accuracy of that number š
Hi Tony,
Ā£2,019.87 exactly! I’ve even factored-in vehicle depreciation š
Anything additional would be for investment / savings / holiday / treats.
Thank you for your videos.
Rob.
That’s amazing š
Hi Tony
Minimum Ā£2150 living cost .
Hi Tony,
Ā£2,019.87 exactly! I’ve even factored-in vehicle depreciation š
Anything additional would be for investment / savings / holiday / treats.
Thank you for your videos.
Rob.
I would say I would need 3k a month but I would rather like to have 5k a month coming in so I can enjoy the time I have freed up
I completely understand and I’m not for one moment suggesting you won’t increase your income… however let’s focus on just covering your bare bones essential costs first. All will (Hopefully) become clear in the next lesson š
Ā£1,535,97 (I thought I would be specific so its etched into my brain!)
I wouldn’t give up the day job, so I could spend my monthly wage, however would be great knowing I was not totally dependent on it!!
I LOVE how specific you are with your number Curtis… it tells me you’ve REALLY put some thought in… you’ll see the significance of this in Lesson 3 š
Hi Tony
2.5k would be my number.
I am on Ā£500 per day self employed IT, so ideally I would need Ā£3000-5000 per month in order to have that freedom between contracts where I am not burning through savings to pay bills. Eventually i would like to travel for a few years if i could afford it. As always wanted a business like a hostel or bnb somewhere nice like Portugal, Costa Rica or even Newquay. Ideal situation in my 40s would be to spend UK winter some where warm and then come back for 6 months to do contract work or more property.
That sounds like a great plan Paul… and you can have ALL that… and if Ā£3000 to Ā£5000pcm is the bare-bones minimum amount you need to spend each month in order to be able to live (and importantly – NOT spend your savings) that’s great. So for the sake of what I’m sharing in Lesson 3 – Let’s say you need Ā£4000pcm to cover your bare-bones outgoings š
Hi Tony,
My financial freedom figure is 1000 to cover all personal expenses.
Great content Tony
Thank you
Thanks Thomas š
Hi Tony,
Thanks for the free nuggets of knowledge and for this medium of interaction.
A monthly income of Ā£3500 would be enough to cover my living costs in London.
That’s great Iyore š
minimum Ā£1500 to 1600/month including a mortgage payment
If i stayed in London, i would say Ā£2500 per month to cover costs and current lifestyle (though am targeting 4 k).
If i moved full time to my apartment in Spain, probably Ā£1500 per month…….which is food for thought
Cheers
That’s brilliant – thanks Dean
2k a month bare minimum for me! I work for myself, so I’d carry on working – but would be great to know I have that guaranteed pretty much.
Would it be reasonable if I contact a local estate agent and basically ask if they have any “motivated sellers”?
Hi James… to be really honest with you… (and please don’t take this the wrong way) but I feel you’d need to take a more indirect route rather than just asking this question directly like that. They probably get asked this question several times a week.
I confess I have a WHOLE MODULE on how to get deals out of agents in my Online Property Masterclass which goes live tomorrow if that’s of interest š
Hi Tony, thought so!
Yes – it would be great if I could look into that further! I’ll look out for it.
Thanks for your great videos to date.
That’s great š
Ā£3k per month, of which Ā£1500 covers my mortgage. Thank you Tony for providing this free training I really appreciate it and love your relaxed teaching style.
That’s great – thanks for sharing Andy š
Hi Tony,
My figure would be Ā£1200
I’d need at least Ā£2k p/m.
15.000 every month would be great for me
Hi Claudine… the exercise was focussed on working out how much you need to cover your basic outgoings only… forgive me asking… but do you really need Ā£15,000 each and every month to cover your bare-bones outgoings? If so… then that’s great… but if not… perhaps look at this again and ask yourself that question… “What is the MINIMUM you would need to bring in to ONLY cover your outgoings and no more.
I hope that helps and thank you for posting š
My living cost without the extra comes to about 1500 so id be happy to earn up to 2kšš¾
Excellent… you’ll see why tomorrow! š
Hi Tony,
I’ve always said 1k per week, 52k per year left after all expenses and bills payed i would be more then happy and content to live on that and leave my day job.
regards
Ben
That’s great Ben š
It will be Ā£2374.72 as of living now.
I love the accuracy of that number š
My figure is Ā£4,600, so if I can make this figure, or a round Ā£5k per month, this would definitely relieve me from the day job.
Hi Tony
If I could get Ā£5K every month I would be happy to leave my day job. š
Regards
Naren
Hi Tony
God some of the above people must be really stressed having to find that sort of money every month. Well done guys.
For me its 1800 but if my partner payed no bills too it would more 2500.
I have a window cleaning business that I need to get out of as the physical side is affecting my shoulders and i’m not interested in scaling it etc. Similar to your kitchen business maybe Tony.
Look forward to the next lesson
Nic… I feel where you’re coming from. Can I be so bold as to suggest that you might have two targets then… Ā£1800 AND Ā£2500 and in a perfect world you might print these out and put them on the wall somewhere you’ll see them every day.
Why would you want to do that????? Well… time flies by sooooo quickly and can I respectfully suggest you NEED to constantly be reminded that you MUST hit these targets ASAP. Trust me when I say… the moment you do your life will change so much for then better. I wish you every success Nic š
Perfect I shall get that done. Look forward to working with you. š
Ā£5000 per month
Ā£500×22=Ā£11000/month
I think mine would be very much low as I am from Kerala, India. In Indian rupees for my family, me my wife and our 1.5 year old son : rent 10,000/-, groceries and food delivery 9,500/-, electricity, water, waste management, cooking gas, weekly once house cleaning 4,200/-, basic shopping 2,000/-, phone and internet 1,200/-, medical, basic conveyance, miscellaneous 3,000/- total 29,900/- round off to 30 k.
In pounds 320 per month.
2000 pounds pcm
I agree Tony. Day jobs are really stressful and it’s only property that provides complete freedom to any successful investor.
My initial target is 2500 a month to cover the mortgage, bills and expenses and anything above that is a bonus I’d happily accept. Best
Dengei.
Love it š
Hi Tony,
Very helpful lesson as always.
To cover all outgoings before the treats we would need around Ā£1900
Per month.
Kind regards,
Carl.
Thanks Carl š
Hi Tony
Great content so far and clearly explained which is great for a complete novice.
Iād be looking at Ā£25000 a month to cover basics. Iām trying to be realistic and expect to achieve it over the next 5 years
Thanks
Andy
Hi Andy… might that be a “typo?”. Were you thinking of Ā£2500 a month? However … if it IS Ā£25,000 a month (to cover the basics) – that’s just awesome and a hell of a goal! I wish you every success in getting there š