Category Archives: Saving

Hello, quick update, sorry about not posting blah blah blah


You know the drill. 🙂 Profuse apologies for not posting (sincere) Promises of more consistent posting (Lies!) 😀

Anyhoo. Very quick update, I am now down to TWO/ (2) /DOS /NI /DEU/ DVA credit cards with balance owing on them! And I have calculated that I can be rid of those in about 6 months. It would’ve been 5 months but I went nuts with one of the cards. Heh. *guilty look* This also means that I will be only be paying a maximum of $1200 in interest across both cards (assuming $100 interest is generated per month on the current balances). I had assumed an interest of $2000, so essentially I have $800 to spend for Christmas!

*RANDOM THOUGHT* Hmm. I’ve been using the iPad, more so than the laptop recently (which is why I haven’t been on much SO MANY APPS …O_O), and not having the use of emojis seems to stifle me.. >_< *END RANDOM THOUGHT*

So below is the current state of my Net Worth:

Soooo slooooowwwwww….

As you can see there was a large dip a couple of weeks ago. That was me blowing $2000 on crap. Don’t ask me what sort of crap. Just believe me, it was crap. But fun crap. Okay fine, its apps, vids and buying e-books! Now stop interrogating me biatches!

But! I’ve rejigged my budget and have allowed for the ongoing expense of aforementioned crap into my life (cause while I don’t need it, its soooooo much fun!). Starting with $100 this pay, and $30 every pay moving forwards. I’ve also found a deal which allows me to buy a $30 iTunes card for only $24 😀 So the $100 this week should net me $120 worth of credit! That’s an extra $20 for nothing!

Woohoo!

Alright real life calls. Laters alligators!

Hello, I DID IT!


After months and months (well technically years, but I’ve really only been able to be serious about debt repayments since February 2012) of scrimping, scavenging, tight-assery and cheapskatedness, I’ve managed to pay off 50% of my total available debt.

WOOHOO!

So in summary.

WOOHOO!

Hello debt, I’m no longer scared of you! Neener!


I haven’t done a Personal Finance post in a while.

I’m sorry.

I’m a blogging slut. I will blog about anything and everything. My keyboard, spreads its legs to any topic that gives it even a glimmer of interest. I think it has something to do with the fact that it’s typewriter father never gave it much affection growing up…

Anyways, enough anthropomorphising my blog and it’s slutty ways.

Debt!

I feel good about how I’ve managed and am currently managing my debt. It’s no longer a snarling, fang-toothed monstrosity that I have to bury my head in the metaphorical fluffy baby blue blanket with bunnies on it. I’ve come to terms that this debt was a mistake. But without making that mistake, I wouldn’t have taken the time to learn all the tips and tricks in regards to paying debt off (and in a year   – wealth building). I wouldn’t have learned that not only I have the the willpower to create and stick to a budget, I really don’t miss all the crap I used to spend money on (alcohol and wild nights out).

So debt.

FUUUUUCCCKKKK YOU!

*ahem*

Sorry.

Now onto the budget! 🙂

Holy Crap... Debt is in the mid teens!! WOO!

So this is my debt as it stands.

Amount Owing is pretty self explanatory – that’s the current amounts owing on those particular cards.

Amount Paid – that will be the amount I’m paying off come next payday, which will be on the 12th of April.

The percentage in the bottom far right is the percentage of debt I still owe on ALL my cards AFTER I make those above payments.

So in 9 days, my debt will be down around about the $15K mark. And sure, if any sane person had debt of that amount they would be in a state of near panic. But that’s probably the one good thing about having debt in the high-$20K – low $30K, you have perspective on just how worse it could be.

Okay it’s taken me 2 years to halve my debt. But in saying that it’s been the last 4 months where I’ve seen the most (consistent) upward movement in my net-worth. I’ve paid of $4000 off in my total debt since January! I’m no longer struggling with interest, as in I can pay off a significant amount of my debt every month (before interest is applied) that when at the end of the month when the interest is applied, it doesn’t feel like I’ve gone 1 step forward and 2 steps back.

Now as you can see from my proposed payments, I am not strictly adhering to the avalanche method (where you concentrate all your monies on one debt, and make only the minimum payments on all others). The minimum payment for Ignite by Westpac is about $150 a month. I’ve put in $350 last pay, and will be putting another $300 this pay, essentially I’m quadrupling the amount I really should be paying. Why? Interest. If I get and keep my outstanding balance to under $7000 on this card, my monthly interest goes down from $150 to around the $100 mark.

And since this card will have an outstanding balance on it until December this year (8 months) that’s an extra $400 of interest I will not be paying. Couple that with the little-bit-more-than-the-minimum payments I make, when I actually start paying off this card (around the middle of August) I might actually might have made a bit of in roads into this card before the avalanche method brings it into focus.

Now let’s take a look at my Net Worth graph (and yes I am excited about putting stuff into graphs. I am a nerd. Deal.)

WOOHOO! Look where the two black lines meet! LOOOOOOOOK!

I have now reached equality to the highest point from my earlier attempts to pay off my debt (before life happened).

So in 9 short days I will have surpassed my previous  benchmarks! And in 23 days I’ll have left those benchmarks in the dust! WOOT!

And even though it’s still 8 more months till I am completely debt free, that light at the end of the total is definitely a lot closer than before.

I can smell a hint of fresh air.

I smell freedom.

It smells like chocolate 🙂

Hello shopping impulse. Must. Not. Give. In.


Okay, now that I’m down to 3 credit cards (which to any normal person I’m sure would be a cause for financial panic) and the plan to pay the rest of my debt off is progressing nicely. I’m finding myself, shall we say, tempted, to go out a splurge a little bit.

Okay maybe tempted is not the right word. It doesn’t really convey the feeling properly.

To properly elucidate what I’m actually going through we’re going to have to go up metaphor alley. Say shopping equates to sex. “Tempted” to me, suggests a slight feeling of arousal, maybe a slight flush to the cheeks. Some uncomfortable and awkward adjustments may be required in the underwear area. But nothing that anyone with even a modicum of self-restraint couldn’t handle.

What I’m feeling now is downright lust. The hot, panting, wanton, sweating, desperate need to spend a lot of money.

I’m barely holding on.

The new iPad is coming out here in Australia on the 18th of March. $899 (for the 64GB with WiFi and 4G)

The new Mass Effect game is out in stores today. $100

I need bookshelves: $50 – $200.

I want a small 2 seater couch: $200 – $600

I want a couple of desks: $200 – $600

An awesome slim fitted navy blue suit is on display at the suit place. $699

I still need a replacement for both my dead desktop and my aging laptop: a total of $4,000 for both.

It’s getting into the colder months here, I need a new blanket (doona, comforter whatever you call it): $50 – $250

I want a car. At least $4,000, but for the car I want $60,000 (loan of course).

This is not a request for help. This is a statement of what I am about to do.

Don’t worry, I won’t go completely nuts. I won’t get every single one of those things, but after 15 months of scrimping and tightening my belt, I feel that I need to go crazy.

I’m definitely getting the blanket, cause damn it’s getting cold.

I’m definitely getting the game, cause screw it, I have no life. 😛

As for everything else… *sigh* they’re going to have to wait…

Maybe…

*grin*

Hello goals for a fortnight Thursday: Results for Challenge #1 and New Goal


Okay I’m a day late. But screw it.

So how did I do on my goal for saving at least $237 into my savings account.

Well, I kicked it’s ass, called it names, pulled its pigtails, gave it an atomic wedgie and then made fun of it’s momma, by calling her so fat, her arse looks like two badly parked Volkswagens.

Current total in savings: $258.27!

If any one wants to make "boner" jokes... now would be the perfect opportunity...

Which means I managed to scrounge an extra $31.27 dollars rather than just the $10 I promised myself I would. I know it’s chump change, but the fact I managed to do it, maybe I can manage to do bigger things.

So my next goal for the fortnight: I have to exercise 8 days out of 14 this fortnight. But being already 2 days out of whack (I didn’t exercise yesterday, and tonight I have a drinking session for a farewell) this could be a long shot…

 

Hello Finance Fridays!


So Fridays we are now going to be discussing all things finance.

First off, lets look at the state of play.

Yes, I know I'm up that particular small body of running water polluted with feces without that particular piece of boating equipment used to manually propel small watercraft forward

So I am once again under the $20,000 mark.

Thank God.

I’m not going to be overtly smug about that again, because the last time I hipped-hopped hurrayed about the fact I had finally come under the magic $20,000 mark, what did I do? Blow it clear back into the $21,000 mark before the next pay-day, that’s what I did. So it will be a low-key celebration, just me doing this:

Gotta love the Success Kid Meme...

But this is the business side of the year for me. During the next 6 months I am not foreseeing any huge expenses, with the exception of maybe a few days in February, a friends advanced 21st birthday in May, and another birthday in June. And I am considering blowing off maybe 2 out 3. So really by the middle of this year (and here I go making predictions again) I should be well under the $15k mark (my budget says around the $11k mark, but I don’t really want to draw the wrath of the debt gods by claiming I’m going to hit that).

I was going to include a line graph showing my debt status from the 15th  of April 2010 (yep, you read that right I have been trying to break out of debt for more than a year and a half now… well longer, but I lost the data for the previous years) and while there is a downward trend, the incline could be compared to the incline ski instructors put people on when they have never ever skied in their life before, and have a propensity  to fall over a lot, coupled with the skill to mutilate any innocent passers-by with their ski equipment (the bunny slope). I’m hoping in the next few months will see a very steep incline, but the plans of mice and men and all that. Once I get that incline happening then maybe you’ll get to see it, cause frankly right now it’s kind of embarrassing.

One other thing to note is that I am using almost 79% (78.87%) of my total credit limit of my combined credit cards.  I hear the gasps of horror from you guys all the way over here in Australia. I know, I know, this blows my credit score completely out of the water, but it’s a helluva lot better than the beginning of last year when I was owing around 92% of my available credit limit *shudder*. Thinking about it however, that 92% doesn’t actually doesn’t tell the real story about the debt I had at that time, because at the beginning of last year I had a fifth (yes I can hear the “wtf?!?!” and the spray of coffee on to the screen as you splutter at my stupidity) maxed out credit card AND a personal loan (both of which have now been payed for and closed) which I can’t be bothered to input into my cut-and-paste formula. So I’m thinking it would have been more around the 96% mark. *even bigger shudder*

Depending on what you read out on the interweb, the advise is to maintain your outstanding credit balance versus your available credit limit percentage to about 50% – 30%. One website advocates  you keep it down to around 10%.  I think the rationale for keeping an outstanding balance on your credit is that it shows an active credit history, to any other financial institutions that may want to take a gander at your credit score. Personally I’d like it at 0% :P, but beggars can’t be choosers, so I would be over the moon if I can get that below the 30% before the middle of the year.

*sigh*

9 more months till debt-free-ness…

IthinkIcanIthinkIcanIthinkIcanIthinkIcan…

Hello Goals For a Fortnight Thursday… or I have a warped need for imaginary achievements.


So every Thursday I’m going to come up with a mini-challenge for myself*. It could have something to do with finance, fitness, work, blogging or…hmmm, wait… those four things are the full extent of my life.

Hold on while I emo up a bit about that fact…

Sad Cat is Sad...

Moving on…

These mini goals will be tracked for the next two weeks and I will report on the success (or failure) of each task the next Thursday entry comes along, and also a new challenge for the next fortnight.

Now seeing that I have about as much motivation as a drunk turtle with a weight issue, depression and who is also dead, from the copious amounts of food and alcohol consumed during the festive season, I am having difficulty coming up with a task that has at least a modicum of challenge, enough so that I won’t be pelted with metaphorical tomatoes (yes YOU, I’m talking about you… put the tomato down!) by you people who’s very existence is an express violation of the commandments of laziness (two jobs, school, a social life AND blogging??? Where do you fit the napping?! WHERE I SAY!!!?!!?!?). But also not so much so that I will give up after a couple of days.

Then I realised, that a small financial goal, won’t require any sort of strenuous movement from this bloated carcass I call a body, nor will it require any massive amounts of brain activity.

So, without further ado… for the very first Goals For A Fortnight Thursday, I Captain Sweatpants task myself to have at least $237 in my savings fund by the 19th of January. Why the odd number you ask? Well I already have $162 in that particular account as of today, come next payday (which by the oddest coincidence falls the day this task is due) I’ll be depositing another $65 into that account, which would bring the total to $227. Which means I need only add an extra $10 to get to my magic number.

“Now, Mr Sweatpants, $10? That’s a tad lame is it not?” I hear you say. But the issue here is that particular account is doesn’t normally get any additional funds. I deposit $65 every pay cycle, and that’s it. More often that not I actually take money out of it for “emergencies” (desperate need for a coffee is an emergency right?). And also my budget is so tight that I only have about $60 left for 2 weeks, for outside spending. So I have to ensure for the next two weeks, I don’t withdraw ANY funds from that account and also manage to live off $50 spending money for two weeks, and deposit the difference into that account.

Will I succeed? Or will failure welcome me into its soft, rounded,  inviting, vanilla scented bosom?

Even though I want to succeed... failure looks just so damn inviting!

Game on!

*Note: If anyone out there can think of a challenge they would like me to do (which doesn’t involve me having to do much… :P) I am open to suggestions which may or may not be ignored.