Saturday, November 1, 2014

Updates!

The last two weeks at work have been full on. So much so that when I get home it's pretty much been dinner, shower and bed! But it's nearly two weeks since we looked at the numbers so better get on to that sweet thing!

Updated Balances:

Tax debt $2596.85
Tax debt 2 $381.90
Credit card 1 $4580.58
Credit card 2 $7909.39
Car loan $ 19060.29
Mortgage 1 $239615.69
Mortgage 2 $109775.07

Total:  $383919.77

We are $1787.67 better than last time even with our tax debts being in and recalculated. Need to get it over $2000 for November.

Savings are at $581.74 these should be more but this last two weeks without a kitchen have been very expensive!!!  This has been a major fail given that we have a BBQ and an electric frypan still able to be used. I was away for four days last week with work so I spent money I normally wouldn't have too.

We also put two new tyres on one of the cars and registered the other. I need to put money in the "irregular bills" account.

I will be getting just over $400 from work towards my childcare over the last two holidays so that is going to D's credit card and if I add a bit will take it under $4000!!!!

Overall I would say the last week or so has been just ok. We could of done ALOT better I think, we used me being away and the Reno as an excuse to do as we wanted. Hopefully recognising this will make this fortnight better.

Sunday, October 19, 2014

Please Debt Stop Coming

Here I was all prepared for a peppy post on  how we sold crap this weekend for extra moola (and I will get to that) but I have just discovered that D's tax debt FROM LAST YEAR hasn't been paid off yet. What the hell????

I checked the bank statement and yes a $146 payment went to the tax office. Unfortunately it was added on to my tax debt not D's. And whose fault was this? Unequivocally mine. I did the transfer, this is on me. The result is this years tax debt has gone from $236.30 to $381.90.  I'm hoping that this will be the last debt to add to the list....please oh please.

But we sold crap!! Yay!!  We sold a fridge, microwave, coffee machine and booster seat for a total of $210 which is going straight to our debt. It was really great how fast it all went and no one haggled which we were totally expecting!

I now find myself prowling the house for other crap to sell. Knowing that some extra is going on the debt makes the tax thingy more bareable.

Oh and we aren't going to snowball in the traditional way. D hates hates hates the smaller credit card debt. He hates it more than I hate my tax debt so we are chucking everything at it. Then we will move to the next hated one, while still snowballing the repayments. I read about this method on Man V Debt and this made perfect sense to us to keep our motivation up - or to maintain the debt rage as I like to think of it!

Our biggest purchase since a mortgage starts this week - kitchen renovation. To be really honest? I wish we hadn't added the cost to our mortgage. But that was a decision made before we started on our debt rage and now I have to suck it up and hope it's the best freaking kitchen ever. :)

I will post the before and after pics in the vain hope I will be told it was worth every penny!!! Lol!!!

Friday, October 17, 2014

Coming Out

I had a financial chat with a friend this week. Told her about my debt.

Difference between her debt and mine? About $1000.

Difference between her savings and mine? $320

I was pretty nervous to tell her  cause we are suppose appear to be money savvy, we have an investment property, two cars and just about to renovate our kitchen.  Outwardly I know we appear that money isn't a problem. To be fair it isn't, as long as we are happy to live virtually paycheque to paycheque, have no savings and reconcile the fact that we will always be in debt. So it was pretty freaking scary to let someone else know our debt.

What she told me about her finances surprised me. I know I shouldn't have been surprised that the outside doesn't always match the inside. I mean Heelllooo, that is US!! K also said that she had recently read that 35k to 40 k of personal debt was around average. Whaaaattt???  I started wondering if everyone I know (other than my parents) was living with large personal debt. Probably?!?!?

I read on a personal finance blog ( I had been reading them for inspiration, yes maybe a little obsessively but what's a spender to do?) that credit cards represent money spent on shit we no longer even remember. True.  We have had a credit card debt for nearly ten years, I have no idea what we bought and am confident if I could work it out we wouldn't have it anymore. What a waste.

Cheerful aren't I? On a happier note we are listing stuff this weekend to sell. All the money is going to the smaller cc as this one drives D cray cray. I'll let you know if we sell anything.

Saturday, October 11, 2014

Another day Another Dollar

Good things over the last week:

For some unknown reason the doctor bulk billed me so that saved $65 , no idea why but I did a have a lovely chat and was in there for less than 10 mins.

Found out that work gives a rebate for childcare during school holidays,

Pretty much stayed away from McDonald's drive thru coffee (went from 6 coffees to one - I'm taking that as a win)


So so things:

My biggest expense this week is the bill for two weeks childcare - $684.

Didn't put in any money into the "one off" account to pay for irregular stuff.

Took $100 out of savings.

Updated Balances:

Tax debt $2746.45 (debt formally known as student debt)
Credit card 1 $5287.41
Credit card 2 $8073.99
Car loan $ 19426.86
Mortgage 1 $240576.19
Mortgage 2 $109596.48

Total: $385707.44

That is overall $446 more than the last total but that is with an extra $900 or so previously unrealised tax debt!!! There is $380 in savings as it stands today, my intention is to put some more in tomorrow.

Sunday, October 5, 2014

Sneaky Tax Office

Perhaps sneaky isn't the right word. Confusing might be. And add to that how clueless I have been about my own finances - not a great combination.

Turns out I owe about a $1000 more than I thought on my student debt. Yeah, how'd I miss that? A whole thousand dollars? Since I had no idea how much I owed as a whole number, I had thought the balance included the amount I was currently repaying that last years tax had generated.

Not up on student debt deal in Australia? Here's how mine works... I borrowed the fees from the government, this is called Hecs (since renamed HELP - isn't that sweet! Gag) Then you don't have to start repaying it until your yearly income exceeds $50,000, you can pay it back at any time but like an idiot I just pretended it wasn't there. Then when you complete your tax each year your repayment is calculated and your tax return is withheld and you owe any of the extra due that year.

Here's what I didn't realise. The tax office holds two "accounts" for you. One which hold the balance of the calculated repayment that is due that year (tax account) AND one which holds the balance of the original debt (loan account). I was looking at the balance of the original debt only and not adding the repayment amount due.  The result being:

Debt balance.              $1803
Repayment balance.   $  901

This has all been added together now so technically I no longer have a student debt, I now am the proud owner of a tax debt of $2896.85. Congratulations.

Eagle eyed readers would notice that those two numbers don't total 2896.85, this is because  there is interest on top but that is definitely the bottom line. Finally I actually know how much I really owe.

Monday, September 29, 2014

Who Didn't Spend Any Money Today?

Why that would be me!!!!

I had breakfast at home, packed lunch and made dinner with ingredients we had in the cupboard.

Super saver or what??!!

I even had two extra teenagers to feed. And plan to do the same tomorrow, though just in case I haven't mentioned it....I buy take away coffees ALOT. Some weeks everyday. This is bad but does account for my huge headache this afternoon a after no coffee. So sad.

Did I mention that I didn't spend any money? Lol!

Sunday, September 28, 2014

It 's Hard Out There For a Saver

I would love to report I have saved every cent and ate vegemite sandwiches everyday. That's what I would love to do, however back in reality I have done neither, but I did some good things.

I put 10% of our wages into a savings account. This account cannot be accessed with a card. At least some thought has to go into transferring any money, so no accidents. Or me claiming an accident!

I paid $250 instead of the usual $150 off my student debt, I am hoping to put a little more on too.

I paid $50 on the second credit card even though it's not due. It's a weird set up, as any money you put on it before the monthly account is issued doesn't count toward your monthly repayment. I found this out the hard way when I paid the repayment two days before the account came out and got stung a default fee. I rang and got it sorted but haven't made that mistake again.

Now for the not so good.

I bought lunch on Friday and chocolate for some friends. We also had take out on Thursday night due to me having the worst day at work in 12 months and losing the will to care. That is on me. And I took my sister out for coffee to help her escape 5 children - that could nearly be counted as community service work. Nearly. Looks like  Spendy pants but two of those I had committed to before I had my aha moment. I'll flog myself later.

Expenses that have or will have to be dealt with this fortnight are the trailer registration and having the driveway repaved. The first is $62 for the year. The second is cheaper than it sounds as my uncle is doing it with the help of the husband and the resident 17 year old. So it is time, effort, sand and hiring a compactor - probably about $150 when it's all done. I will let you know how close my preferred cost is to reality!!

The other big cost is childcare as it's school holidays and neither I or D have any leave, it will cost about $700 for two weeks. Our daughter is 9 so other than having a day here or there with big brother it is childcare. Though that cost will be partly this fortnight and partly next.

I am doing my updating of our overall position every fortnight cause that's how we get paid. Some times will look better than others depending on when the interest is paid on the mortgages but I am looking for the downward trend.

27/09/2014

Student debt $1553
Credit card 1 $5428.41
Credit card 2 $8073.99
Car loan $19793.43
Mortgage 1 $240504.13
Mortgage 2 $109908.48

Total. $385261.44