Monthly Archives: May 2014

2 more payments left!

Pay day today and I put $480.00 towards my loan – only $1273.00 left to go!

In the last few weeks I have made some further adjustments to my budget:

  • I cancelled my gym membership – saving $23.90 per fortnight
  • I’ve been walking consistently  to and from work.- saving $35.00 per fortnight

I cancelled my gym membership not because I didn’t use it but because I intended to join a new gym closer to home. However, with the walk too and from work each day – just over 8kms per day in total – I’ve found it to be a good substitute for the gym at the moment.

My current fortnightly budget looks like this:

  • $295 rent
  • $650 loan repayments (I put $450 on today as $173.00 was taken off last week as my actual repayment)
  • $50 buffer fund – current buffer fund is non existent as I put it all toward a recent dentist appointment.
  • $20 electricity
  • $50 save
  • $15 internet
  • $15 phone
  • $30 health insurance
  • $20 tithe
  • $250 groceries
  • $225 spending

This pay won’t play out exactly as planned, the dentist appointment meant my savings took a bit of a hit and I needed to make up for it this pay. I also bought a very nice bottle of champers and took my boyfriend out for a celebratory dinner last week – extra expenses to come from my savings that I needed to make up this week.

2 more pays (hopefully! I don’t want to be tempting fate here by being so excited 😉 to go folks!

I hope everyone is having a good debt busting week this week!

Elesha 🙂

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Check out my new blog – 4000 Sundays

The Debt Breakup will be finishing up pretty soon – only 3 payments left!

I will continue to blog – no longer anonymously – on my new blog 4000 Sundays.  The next phase of my journey – saving for my trip to Central America at the end of this year, along with other bits and pieces – will continue here!

Come on over and check it out 🙂

Under $2000!

Today was payday and I transferred another $650 onto my personal loan – bringing the balance under $2000!

Current loan: $1892.95

It is very exciting to see the number 1 at the start of what is left to pay of my debt. 

3 payments (hopefully!) to go 🙂

Elesha

Week 60 – Update on debt and savings

Hey folks!

I’ve been posting a lot less these days, and there are a couple of reasons for this:

1) I’m working on a new blog! I’m  looking forward to sharing the new blog with the readers of the Debt Breakup. My new blog won’t be anonymous 😉 so I guess you can find out a bit more about me!

2) I’m close to the end of my journey to debt freedom and thing are just rolling along – ie, not a lot of exciting updates to report. I’ve reached my ‘savings ceiling’ in that I have tweaked my budget time and time again – there isn’t much more I can squeeze out of it to pay towards debt or to save. But I’m very pleased with settling into a budgetary rhythm!

A cool thing I did do recently though was sell my stuff at a trash and treasure market 🙂 I’ve recently become a minimalist – something I cover off on my new blog – and letting go of many of my possessions has been the first step on my minimalist journey. I made $205.00 profit from the stall – which I was very pleased with considering most items were priced at $2 – $5!

So, my 60th week of debt repayments. 60 weeks. 

For pretty much the entire last 60 weeks I have made financial decisions based on minimising my debt as a priority. I’ve said no to things, I’ve worn the same wardrobe, I’ve mostly made purchases of needs, not wants. I’ve cut and reduced costs in every part of my life I could. Time and time again I have put debt repayment before my whims, wants and generally fun stuff.

With the light at the end of the tunnel getting brighter and brighter, I can honestly say it has all been worth it so far.

My update for Week 60:

Debt

Credit card 1 – $0.00

Credit card 2 – $0.00

Personal loan: $ 2,542.95  (previous update $3,142.15)

Savings

$650.00 (increased by $200.00)

Buffer funds

$50.00

Starting debt: $14,774.12 

Debt paid to date: $12,231.17

Have a great weekend everyone! My next update will be under $2000!!

Unit then…

Elesha

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