Friday, August 31, 2012

Coming back soon!

I have started this blog and neglected it for a long while. I love Istanbul but I had to make a life decision to move away for a while. By the end of September, hopefully, I will be back in Istanbul for good. I intend to revive this blog and turn it into something useful and inspiring.

I am entering a new phase in my life: Part-time, project-based work! It sort of sounds scary but, my soon to be ex-job was absolutely draining. It was not always like that. If it were still bearable, I would keep working probably until May 2014. That would put me in a safer cash position. I decided to take a risk instead of feeling frustration.

I will have a steady income stream just to keep me make my ends meet through Social Security. If I can find a good tenant for my investment apartment, that will also help a bit. Anything I earn on top of these will go to savings and travel, home improvement projects and a car upgrade in the coming years. I will share my plans later on.

I have 26,483 TL remaining debt (non-mortgage) on the investment apartment so, it is not too bad. My monthly payments are 1,350 TL and I am hoping to clear that debt earlier than 2014.

When I start earning from my new venture, the first thing I will try to clear up is that debt. It consists of three pieces:
 Debt 1: 6,945 TL at 12,60% interest
 Debt 2: 10,228 TL at 11,52% interest
 Debt 3: 9,310 TL at 11% interest

My first target is Debt 1 of course. I hope to clear that before the end of this year. If I can close it by the end of the year, I shall probably save about 900 TL in interest. Not a lot but still....

So, stay tuned. I will be coming back with at least two posts a week discussing Istanbul, frugality and working part-time as a consultant.