Terrible

What a terrible week!

I thought by getting back into this blog, I would become even more disciplined with my money.

Not so!

This week I didn't go a single day without spending money. I got fifty dollars out of the bank on Wednesday and by yesterday morning it was gone - and I don't even know where it went!

Terrible, I know. So I am going to have to reassess and get back to basics and save, save, save!

Any tips?

Not Off to a Great Start

Yesterday I went to get my groceries for the week. I recently realised how much excess stuff I have in my pantry and thus, decided to start using all of that. So I checked out the cupboard and decided what I needed to buy. Apart from some porridge, I think basically everything I bought was fruit, vegetables, salad and milk.

My bill came in at about $34. I am quite happy with that, especially given that almost $9 of that was for my milk. I am lactose intolerant and thus my milk is a lot more expensive than regular milk. So all in all, a great shop, especially given I often spent around $80 a week on groceries!

As I was driving home, I decided to fill my car up with petrol. I chose to do this even though I had half a tank left. I thought it would be a good discipline exercise if I could limit the days I spent money to the weekends (including Friday). This would help me be better organised and save the money I might usually waste.

Well, that didn't last long.

Today I bought a drink whilst out running an errand for work. It cost me $4. There was no decision making process, I did not even think about buying this drink. It didn't even occur to me that I was trying not to spend during the week.

So it is going to take constantly reminding myself to get me into this new habit. I am determined not to let this bad start deter me, and to keep going and sticking to spending on Friday, Saturday and Sunday only.

Wish me luck!

I'm Back

Last night, I was reading through the archives of one of my favourite personal finance blogs. I had left a comment on one of the posts, and I had done so under AussieSaver. I clicked on my comment and was transported back to this blog. I read through all of my old posts and very quickly decided to start posting again.

Over the past few weeks, I have been re-evaluating my financial situation and have wanted to tighten the belt and refocus my savings goals. However, apart from making this decision, I had done little else toward this goal. This blog is of course the best way to monitor and inspire this decision. So I'm back- hopefully my faithful readers are still out there!

It has been almost a year since my last post and a lot has happened since then:

- I moved to a new city. I was transferred due to my job. It is approximately three hours from my previous city and the location of my house. As such, I was unable to live in it. My house was vacant for just under a month before I secured a tenant and so far, everything has gone well. He recently signed a further 12 month contract, so I am pretty happy being a landlord.

- Though I haven't made a final decision, I am still perusing real estate in my new city, thinking about buying. The main reason for this is that I HATE paying rent. I think it's such a waste of money. I will probably be here for a few years, so am considering purchasing. I will continue researching and see what I come up with.

- I sold all of my shares. Lucky I did too, a few weeks later they all fell and I would have lost a significant amount of money.

That's about it. So I currently have a mortgage, am renting and just basically plodding along. But I want to change that, I want to refocus and get back on the personal finance bandwagon!

Comment if you're still out there.

Change Jar

I have a beer mug from a university event I attended sitting on my kitchen windowsill. This is my change jar and whenever I have a build-up of change in my purse, I deposit it into this jar.

I don’t use a lot of cash (preferring to get the reward points on my credit card but ensuring I pay it off in full). As such, I don’t get to do this too often.

However, I counted it the other day and there is already $10 in there. Admittedly this isn’t very much, but that’s money that had I kept in my purse I probably would have spent on something silly.

And every dollar counts! Does anyone else try the change jar approach?

Why do I find blogging so hard?

The very first personal finance blog I read was The Simple Dollar. I loved it from the very start. This prompted me to find and read other PF blogs and eventually, to start my own.

Trent does an awful lot of blogging. He posts multiple articles a day, every day. While I understand that he no longer works full time and in fact has made blogging a part of his job, I am still struggling to understand how he makes it look so simple.

I cannot blog from work, not even on my lunch break, as my work has strict security guidelines on our computers. As such, I need to do my blogging at night or on weekends.

I have always loved writing. In high school, I used to write a lot of stories and really enjoyed it. So why, now that I actually have a blog, do I find it so hard to write when I get home?

I really want to keep this blog going and grow my readership. However, I just don't seem to have the energy or the motivation to keep it up. I am now closing the blog, but dear readers, does anyone have any suggestions as to how I can find that much needed motivation?

Scare

I apologise (again) for the lack of posts. We had a bit of a family health scare which has taken me away from the computer. As soon as my dad is given the all clear (hopefully today), I will resume regular posting.

Cutting Christmas Costs

I love Christmas. The only thing I don’t like about Australia is that we don’t have white Christmas’. However, with a large family (I’m one of four children) and extended family, it can definitely get expensive.

Even though it’s six months away, I think it’s never too early to start planning for Christmas. So here are some small tips for saving money at Christmas time!

- Secret Santa. My family tried this for the first time last year. It didn't save an enormous amount of money (we set a high limit) but it certainly can if you want it to. We also all made a list so we were getting gifts that we wanted. My list had a mixture of wants and needs, saving me money in the future.

- Start saving at New Years. Some banks have Christmas accounts. If yours doesn’t, all you need to do is start an online savings account and put money into it each week. It could be as little as $10 a week but come Christmas time, you will have a nice stash of cash to use for gifts, food and decorations.

- Buy gifts early. I like to buy my Christmas (and birthday for that matter) throughout the year, particularly when I see something on sale! I don’t like the stress of shopping right before Christmas, I prefer to do it slowly and pragmatically. And by either catching things on sale or lay buying them, I end up saving a lot of money.

- Make use of boxing day sales. If you’re not seeing family or friends until after Christmas, put their presents at the Boxing Day Sales. This can save you a lot of money.

Remember, even if you only save $50, that money is better in your pocket than someone else’s.

What are your tips for saving money at Christmas time?

Lending a Hand

I didn't keep to my new posting schedule this week because I was away on business. I thought I'd have a lot of free time but I was flat out. I shall return to my regular posting schedule this week :)

Yesterday I sat down with my older brother to discuss finances. He bought a house around five months ago and is having some trouble affording it. So we sat down and went through things. It seems that he bought more than he could comfortably afford. He is stripped down as bare as he can go so I decided it was now a matter of ensuring he spends wisely with the little money he does have.

I explained to him menu planning and a shopping lists. He was completely taken by it. My brother is very fit and active and thus has a huge appetite. Therefore, unless he is careful, he can end up spending an awful lot of money on food each week.

It was quite funny how excited he got upon hearing these ideas. He actually just called me to tell me what he had put on his menu plan. He's writing his list and then hitting the grocery store.

It actually feels really good to get someone else into frugality! That is what this blog is meant to do but I didn't anticipate the whole lack of readers thing. So this will do in the meantime :)

Money while on business

I am on a business trip this week. I usually come away from such trips having made money. This one will be no different.

Where many people go to the hotel restaurant and spend $20 0n breakfast every day, I buy milk and cereal from the supermarket for around $5 and it lasts me all week.

This trip will cost me a little more than usual, but I will still come out in front. I am on business in the city I went to university in so I have friends here who I'll be catching up with for one or two dinners out. But I will still be frugal in my choices and make the most of being away from home.

The Price of Health

I have recently been diagnosed with lactose intolerance. This is a mighty inconvenient condition to have, as dairy features in so much. Also, as I'm not used to it, I find I forget an awful lot of the time and accidentally eat something I shouldn't.

Australia recently had a price war on milk and we can now get out milk for $1 a litre, every day at the supermarket. Do you know how much lactose free milk is for one litre?

$2.54.

Needless to say, this is the part I am most annoyed with!

A Change of Scenery, Perhaps

Today I found out that I may be transferred to another city at the end of this year. It isn't confirmed and I have no idea where to.

I am both excited and disappointed. It will be good for my career and I'll enjoy the change of scenery, as I don't really like the city I currently live in (really don't like it, actually). However, my house is here and I'll miss it!

Even though nothing is definite, my personal finance brain is going into overload. I am already contemplating the financial implications of a move and what I plan to do financially in my new phase.

Bittersweet really.

Grocery Update

I did try and carry out my scheduled post last night, but for some reason could not log in. I think Blogger was down. Apologies for being a bit late.

On Thursday, I went grocery shopping. As I said in my last post, I decided to do a fortnights worth of shopping. I came around $25 under budget. I have no idea if this is because I did the fortnight shop or because prices were good this week or because I didn't need as much. But I enjoyed the convenience of only needing to shop once a fortnight.

I actually have a day of cooking planned, all stuff that I can freeze and use throughout the week as I am not a fan of cooking after work.

How do you manage your grocery budget and menu plan? Would love to hear your stories.

Groceries

I live quite frugally but am always looking for ways to live more so. I get paid fortnightly (or bi-weekly) and thus budget my money that way. I usually do my grocery shopping once a week, occasionally picking up milk as needed.

I have decided though, to give fortnightly shopping a go. Again, I will probably still need to make one extra stop for milk, but I think everything else can be purchased once a fortnight.

Does anyone else shop this way? Can you offer any tips? I am off to plan my menu for the fortnight so I know what I need to buy!

Paying Down My Mortgage

In November of last year, I refinanced my mortgage in order to take advantage of a great deal I could get through the company I work for. At the time of refinancing, my mortgage was $302 000.

Now, five months later, my mortgage is at $278 000. I am most excited about this. I have been working hard to minimize my mortgage as much as I can.

I am travelling to France in September and am still saving up for that. But aside from that, every spare cent has been put onto my mortgage. I still have a $9000 emergency fund, so I am feeling good about where I’m sitting.

I do want to buy another property, hopefully soon. However, I want my current mortgage to be as low as possible before I take the plunge and buy another property. I am constantly racking my brain and researching ways to save money in order to put it onto my mortgage.

I haven’t eaten out very much the past five months. I have barely bought any new clothes and I spend most weekends being a homebody. I get a lot of comments on this choice of lifestyle, as people tell me this is the time in my life I should be enjoying myself. I wholeheartedly agree. Travelling is what I enjoy doing, which is why I am going to France in September. I am not willing to sacrifice that, as that is what is most enjoyable to me. So I still put money away diligently for my travel plans, but choose to put much of the rest on my mortgage as eating out and buying clothes is just not as important to me.

And besides, who cares what people think. I know that I am making good financial choices and that is really all that matters!

I Hath Returned

I apologise to any loyal readers I have for my long hiatus. It wasn't planned, life just seemed to get in the way.

However, I have had a realisation recently that life is always going to happen. Life doesn't stop for anything. If I want to have a blog, I have to make a commitment to it and work on it regularly.

So, my dear readers (if I have any), I am pledging to you now that I am going to be a better blogger! I am committing to three posts a week. I plan to post Monday, Wednesday and Friday (Australian time). Hopefully this will increase my readership and also keep all those faithfuls around!

So if there are any readers out there, I'd love to hear from you. Do you have any suggestions on how I could improve the blog? What will make you want to stick around? Any topic suggestions? This is foremost meant to be a personal finance blog, but I am open to branching into other topics.

First post of the new blog will be tomorrow, be sure to tune in!

Silly Mistake Leads to Cost

On Thursday, I am flying to the other side of the country, Perth to be exact. On Wednesday night, I am staying at my brother's house as he lives nice and close to the airport and I can leave my car at his place free of charge.

I seemed to have forgotten about my big trip when I went grocery shopping on Sunday. I was only stocking up on fresh produce... and it's now all going to go bad while I'm away.

I will probably take it to my brother's house for him to eat, but still, seems like a waste and definitely a waste of money. So if I was a little more on the ball, I would be even further under budget.

Oh well, we live and learn.

Budget Update

This month, I decided to track my spending, every last cent I spent!

My bills and savings are automatically deducted from my pay cheque so I don't even see it. After that, I have three budget categories.

Groceries - $150

Petrol - $150

Other/Fun - $100

So how did I go this month?

Groceries - $116.20

Petrol - $137.40

Other/Fun - $102.17

Not too bad. Though I went over my Other/Fun budget by $2.17, I was well under in my other two categories.

My grocery budget includes toiletries. I like to stock up when things are on sale. So when tinned tomatoes are on sale and I only need one can that week, I might buy five and put them in the cupboard. This fortnight, I bought ten tubes of toothpaste because the price was so good.

So while my grocery budget may seem a little high for just one person, it is so large so that I can stock up when I want to.

Any thoughts on my budget? Too high, too low?

Update: This is my fortnightly budget, not monthly. Apologies for the confusion.

My Net Worth

I decided to calculate my net worth, after seeing it on so many other blogs.

Assets:

House- $390 000

Car- $30 000 (very conservative estimate, is probably actually worth more)

Shares- $6000

Superannuation- $35 000 (approximate)

Cash- $10 000

Total Assests: $471 000

Liabilities:

Mortgage- $281 000

Total Liabilities: $281 000

Therefore, my Net Worth is $190 000.

Not too bad for a 23 year old! This is also not taking into account my one third ownership of an investment property, as I have no idea what it is worth or what the mortgage on it is.

Does this seem alright to everyone?

Worth It

A little while ago, I posted that I had gotten a Woolworths Frequent Flyer Credit Card. Well, that has more than paid for itself. By just putting my regular purchases on that card and never carrying a balance, I booked a flight to Perth (usually around $350) with my points and still have a bunch left.

Glad to save a bit of money for basically doing nothing!

Saving Isn't Always the Answer

I get paid tomorrow. Usually, the night before pay day, I put any leftover money from the previous fortnight's budget into my savings account.

However, at the moment, my city is going through a serious heat wave. I have been sleeping downstairs on a thin mattress because it is just too hot to even be upstairs, let alone sleep. And as a result, my air con has been getting quite the workout.

Therefore, anticipating the higher than usual electricity bill, I am paying that extra money straight to the electricity company. Hopefully that will lessen the blow when the bill comes.