Tag Archives: gifts

Budget makeover : 2011 vs 2014

This week I found an old notebook with some previous budgeting records. I have always tracked my money on the fixed expense side of things, and it was quite interesting to see this old record from August 2011:

Circumstances in 2011 – I was single and living alone in an apartment I absolutely loved, right on the beach – the cost of rent not allowing me to save a lot. I am big on fitness and health and I recall at this time in my life I was doing several paid classes (not included in a gym membership) of boxing per week plus personal training. I was also trying to save for my South American backpacking adventure. My phone, laptop and whitegoods were all on rental contracts – which, in my mind, are debt.

Fortnightly budget 2011

My wage was $1677.00 per fortnight (actually $50 more per fortnight than I earn now)

  • $44.00 laptop rental ($84 per month)
  • $185.00 payment to credit cards
  • $600.00 rental payment ($1200 per month)
  • $50.00 phone (I was on a contract that went came to between $90 – $100 per month)
  • $12.50 internet (pre paid, $25.00 per month)
  • $75.00 personal loan – I was only making minimum repayments ($130.00 per month, at that stage my loan was smaller)
  • $32.00 boxing classes ($64.00 per month)
  • $40.00 personal training ($80.00 per month)
  • $25.00 whitegood rental ($50.00 per month)
  • $100.00 travel ($200.00 per month)

So that left me with $513.50 which is $256.7 per week for groceries, spending money and savings. I know I spent around $100 – $120 on groceries per week when I lived alone. So that would be about 136.00 for savings and spending. No wonder I found it difficult to save money during this time, although I constantly did feel like I was saving, but not large amounts.

I didn’t include electricity, or any buffer.

Circumstances for 2014

I live with my boyfriend, closer to my workplace (less travel) and split costs of rent, groceries and electricity. We have a small older apartment, which has been very very hot during the summer (no aircon) but I can see already from the summary below that our decision to rent a modest place has really impacted savings.

Fortnightly budget 2014

My wage is $1620.00 per fortnight

  • Rent: $295.00 ($590.00 per month – $610.00 less than 2011)
  • Travel: $45.00 ($90 per month – $110.00 less than 2011)
  • Phone: $15.00 prepaid  ($30 per month – $60.00 less than 2011 and no contract)
  • Internet: $15.00 – On an internet plan for $30.00 per month – $5.00 more than 2011)
  • Electricity: $20.00 – I had no inclusion of electricity in 2011 budget.
  • Gym: $47.80 ($96.20 less than fitness costs 2011)
  • Groceries: $250.00 ($5.00 more than 2011 per week – however, I’ve actually got this as an allowance in my budget now)
  • Tithe / donation: $20.00 (didn’t have giving allocation in 2011 budget)
  • Loan repayment: $160.00 – ($190.00 more than 2011. My minimum is higher at $173.00 but I am making addition payment of $73.50 per fortnight towards the loan)
  • Buffer: $50.00 (didn’t have a buffer allocation in 2011 budget)
  • Spending: $230.00 – Most weeks will leave me with $115.00 as spending / entertainment money.
  • Savings: $490.00 from March 2014 – my 2011 savings were variable based on what I had left over, however I have built the amount of $490.00 into my budget for 2014. The start of this year has been variable due to NZ trip and 2 interstate trips.

So 2 main things have changed.

I have rid myself of most contracts and 2 credit cards and I include everything in my budget now, rather than just seeing what I have left to pay the variable amounts (spending, savings and groceries)

So it was interesting – and encouraging – to come across an old budget and see I have made progress. Slow progress, but I’ll take it as a win!

 

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Week 31 – Debt and Expense Update

Hey peeps.

I’m a few weeks behind in my spend and debt updates, so planning to post a few all at once and then let you know what the heck I’ve been up too.

So week 31 I moved out of my folks place and into an apartment with my boyfriend. For the sake of my mental health, I could no longer do the epic 4 hour daily commute from my folks place to work and back. I had reached the end of the line on that one, mentally and physically drained and not far from having a public meltdown on the way to work one morning when delays meant the trip to work alone took 3 hours!

A grown woman crying and thrashing around in the 2nd carriage while screaming ‘for the love of God, I’ll get out and push this train – just hurry the f#$% UP!’ is NOT a good look.

A week later, a lease was signed and my commute went from 2 hours one way to 25 mins. WINNING.

However, it has been expensive and thrown a spanner – one of many this month it seems – in the debt smashing works.

Monday

$5.50 coffee

$21.80 postage for gifts

$12.85 groceries

$25 internet

Tuesday

$1.00 bet (It was the Melbourne Cup in Australia – big horse racing day!)

$40 travel

$3.95 health / personal care

$15 drinks

$7.95 Juice

Wednesday

$0.00

Thursday

$52 dinner – took my folks out to dinner to thank them for helping me move the following weekend

Friday

$30 drinks

$26 cab fare

$875 rental bond

$3.80 coffee

$10.00 gift

Saturday (I flew interstate for the day)

$15 lunch

$25 petrol

$8.90 wine

$5.75 soup / takeaway

$20.00 drinks

$3.95 magazine

Sunday – move day!

$56 groceries

$18.00 takeaway coffees /breakfast

$70.00 cash to my brother for helping me move

$14.00 take away

Total spend for Week 31:  

$1,366.45

Debt summary for Week 31:

Credit card 1:  $0.00

Credit card 2:  $0.00

Personal loan: $6618.83

Bank balance:

$529.37

 

 

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Week 7 – Spend and Debt Update

Another interstate trip this weekend for a good friend’s Hens Night 🙂 As I write this update I am extremely fuzzy headed and hungover from waaaaaaay to many cocktails last night. My liver is taking an absolute beating in April with all these events!

Here are my stats for the week – Im quite excited to say that next pay date I will be able to smash the balance on Credit Card 1 – HECK YESSSSSSSSSSS!!!!

Total Income 

  •  $1595.00

Spending / Expenses:

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

  • Monday: $0.00
  • Tuesday: $47.50 drinks
  •  Wednesday: $4.50 coffee, $3.70  lunch
  • Thursday: $460.00 debt repayment to credit card 1
  • Friday:  $4.30 coffee, $19.00 gift, $140 board
  • Saturday: $10 breakfast at airport, $10.80 lunch, $2 travel, $17.00 airport shuttle, $50.00 ‘Hen’s night’ payment.
  • Sunday: $33.00 cab to airport, $11.20 breakfast, $10.90 lunch

Total Expenses / spend: $823.90

Week 7  Summary

Income $1595 +  $9.37 = 1604.37 – expenses $823.90 = $780.47

Week 7  debt status

Credit card #1 – $299.00

Credit card #2 – $4615.45

Personal loan – $7309.87

Total Debt : $12, 224.32

Initial Debt: $14, 744.12

Debt reduced by week 7:  $ 2519.68

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Challenge – The Gift of Change (Start Date, 7th April – End Date, 31st October)

I really enjoy giving gifts. As they say, to give is better than to receive.

Living  back at home with my folks has been a huge gift to me financially. It has afforded me the opportunity to really tackle this debt head on by dramatically reducing my living / lifestyle costs. I pay $140 a fortnight to my parents for board, which basically covers food. I have asked them to let me (yes, I had to ask because they were happy for me not to) to chip in on electricity costs to the value (approx $170 – $200) of what I used to pay per quarter when I lived alone. Compared to what I spent on rent alone when I lived out of home, these costs are soooo minimal!

My folks don’t actually know the total amount of my debt. They know I am on a debt smashing mission and I plan to tell them the total amount at the end of October when I am DEBT FREE!!

I also want to give them a gift, to say thank you for the opportunity to pay off my debt and change my life. I know that is what a lot of parents would do, let their kids come back home, but I know not everyone would have this option. There is no way I could be debt free by October without living back at home. And I am very grateful.

I am starting my Gift of Change Challenge. I have a jar. Every $2 coin and $5 note I receive from now on is going into my Gift Jar.

I don’t know why I chose $2 and $5 notes. I just did. I don’t know how much will be there at the end. But it will go towards the Thank You gift I want to give my folks.

I’ll also give an update each week on how my Gift Jar funds are progressing!

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