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I'm a twenty four year old Australian woman trying to set herself up for financial success!
About Me
- AussieSaver
- Australia
- I'm a twenty four year old Australian woman trying to set myself up financially. I don't have a sordid past of huge debt, but I'm determined to set myself up for the future. I am hoping this blog will be a good outlet and hold me accountable!
On it,s own it doesent sound like a lot but over the year thats $7,800, plus your Tax Rebate, gifts etc. it will soon add up. For a young girl who already has a mortgage I think thats a great achievement.
ReplyDeleteIt all depends on your situation - I'd think about viewing it as total net worth change, rather than specific "savings". So, what portion of your mortgage payment is capital repayment? What contribution to super?
ReplyDeleteCertainly, when I was a fairly fresh graduate, getting a high savings ratio was tough. However, over the following 7 years, my income has grown above $200k, while my expenses have remained relatively static, by conscious effort. That means that my gross income split has changed from approx 50% consumption / 30% savings / 20 tax to 10% consumption / 75% savings / 15% tax.
I've documented the trials and tribulations of this journey on networthiq - profile bigchrisb.
Good luck on your journey - for where you are in life, you sound like you are doing just fine!