Monthly Archives: June 2013

My New Blog

Hello!

I’ve just started another blog to write about my experience on the path to making my travel dreams come true! If you are interested, check it out –  In One Girl’s World

I will continue to keep blogging away on The Debt Breakup too – still counting down that $0.00 balance on all debts!

Week 14 – Expense and Debt Update

Ok, so bit of a blow out this week. I also miscalculated last week how much money I had left after planned expense payments – and didn’t realise my error until midweek. I thought I had transferred my board payment of $140.00 to my mum’s account, but actually had not. So I thought I’d had an extra $140.00 kicking around – and rather than spend it, I applied it to my credit card 2. The payment I had planned for last weeks credit card #2 was $500.00 but I threw an extra $200.00 at it. Then realised my error – so it meant obviously needing to withdraw on that cash again.

What’s with the blow out? Well I was interstate again this weekend for a friend’s Hen’s night. Was a great night and I had a ball – but exact calculations of expenditure became somewhat sketchy after a few (read – many) cocktails….so I am just lumping my expenses for this weekend as Hen’s Weekend Expense. It does include train tickets, cab rides, snacks, payment for dinner, some new accessories etc. I didn’t just spend it all on alcohol 😉

Total Income 

  •  $0.00 – not my pay week

Spending / Expenses:

(Amounts in italics are included in my regular monthly expense budget as listed in this previous post)

  • Monday:  $25.00 internet
  • Tuesday: $3.90 coffee
  •  Wednesday: $4.50 coffee, $183.00 storage
  • Thursday: $3.90 coffee, $10.00 travel,
  • Friday:   $3.90 coffee, $80.00 travel
  • Saturday / Sunday – $450.00

Total Expenses / spend: $764.20

Week 14  Summary

Income $0.00 + bank balance $493.78  –  expenses $764.20

$0.00   in bank account and withdraw on credit card#2 $270.42

Week 14 debt status

Credit card #1 – $0.00!!!! (Goal to pay off in total by 2nd May 2013 COMPLETED ON TIME!!!!!!!!!!)

Credit card #2 – $3888.47  (Goal to pay off in total by 8th August 2013)

Personal loan – $7,145.80  (Goal to pay off in total by 31st October 2013)

Total Debt : $11,034.27

Initial Debt: $14, 744.12

Debt reduced by week 14:   $3709.85

 

No-ones fault but my own…cookies anyone?

You made your bed…now lie in it.

You made your debt – now pay it off. I built a debt monster with no-one else’s help. All my own decisions. My own choices. My own procrastination. My own avoidance of the problem. My own *stick fingers in ears and sing la la la la*

So now there is nobody to blame but me. Oh, and how frustrating that is 😉 I love a good blame when Im in a shitty mood and frustrated with circumstances. Don’t we all? 

But guess what….I got me into this and I gotta get me out. When I get frustrated at how slow this process seems to be, or the things I want that I can’t buy, or the next step I want to take but can’t afford too (aka, moving out of home to cease this 4 hour daily commute that is frankly doing my head in) well, I just have to suck it up and get on with it. 

It’s been quite a learning curve on responsibility to be honest. I consider myself a fairly responsible person of the adult kind but what I did financially was irresponsible. And now I am paying the price. Literally.

What’s interesting, is in other ‘ok, I’m in a bit of shit’ circumstances, there is often more than 1 option on a way out. Missed a deadline at work? Plead with your boss for an extension (and bring cookies to sweeten the deal) Forgot a friends birthday? Send an extra huge bunch of flowers the next day (also send cookies to sweeten the deal)

I’ll tell you something. There is NO OTHER OPTION with debt. Pay it off or get in deeper. Credit card companies don’t give a stuff about cookies (I know, crazy right! Who would waive a few thousand dollars debt for a box of macadamia and white choc chunk cookies?!)

Anyways, what I’m trying to say is, while this process is certainly teaching me about finances, it’s also teaching me about myself and how I tackle problems. I haven’t given up when it’s tough (sure, I’ve slipped a little here and there) but I’m facing it head on. Because it’s the only choice I have. And for all the frustrating times, there are a lot of satisfying ‘yep, I’m taking control and doing the best I can’ moments too.

And that my friends, deserves a cookie. 

Week 13 – Expense and Debt Update

Here are my week 13 stats:

Total Income 

  •  $1595.00

Spending / Expenses:

(Amounts in italics are included in my regular monthly expense budget as listed in this previous post)

  • Monday: $4.50 coffee, $20.00 groceries
  • Tuesday: $10.00 travel, $3.90 coffee
  •  Wednesday: $2.50 coffee, $100.00 travel, $12.00 wine, $700 debt repayment to Credit Card #2, $140 board, $100.00 travel
  • Thursday: $3.90 coffee, $66.00 makeup /clothes /shoes, $2.20 sushi, $76.00 moisturiser
  • Friday:   $29.00 dinner, $10 stationery, $10.00 lunch
  • Saturday: $16.95 video rental + chocolate (includes late fee from last rental!)
  • Sunday: $0.00

Total Expenses / spend: $1304.75

Week 13 Summary

Income $1595.00 + bank balance $203.53  – expenses $1304.75

$493.78   in bank account

Week 13 debt status

Credit card #1 – $0.00!!!! (Goal to pay off in total by 2nd May 2013COMPLETED ON TIME!!!!!!!!!!)

Credit card #2 – $3618.05   (Goal to pay off in total by 8th August 2013)

Personal loan – $7,145.80  (Goal to pay off in total by 31st October 2013)

Total Debt : $10,763.85

Initial Debt: $14, 744.12

Debt reduced by week 13:  $3980.27

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