Category Archives: Personal Finance

Fortnightly Budget

This is a snapshot of my current budget, most people don’t publish how much they earn on personal finance blogs but as I’ve already mentioned I recieve the single parents pension in Australia I figure there’s no harm in showing how much it is.   I’m currently carless until November so the petrol, car and insurance amounts will all go into my Christmas account so once I get my car back I can get all the repairs it needs done.  Also the Clothes and Presents allowance will go into savings if there is noones birthday I need to buy for in that fortnight, I have decided not to buy any new clothes for Flynn or myself until November.

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Update on my (sort of) savings goals

As I posted here last week, I’m unable to concentrate on saving for my future until I can get my car fixed and get on top of my rent and bills.  Here is an update on where I stand today.

Rent – Paid off $200 now am $50 behind.

Car – Need a total of $2100 – Have $60 in savings, not much but it’s a start.

As far as bills go for the last few pays I have started paying a set amount off each bill fortnightly rather than waiting for the bill to come in and then pay.  This makes sure when the bills come in I am either in advance or only have a small amount to pay.  Currently:

– Electricity – $109.44 CREDIT 🙂

– Gas – $5.40 CREDIT 🙂

– Net – $2 CREDIT 🙂

– Mobile – $80.63 CREDIT 🙂

It feels great to know I won’t have any unexpected bills leaping up at me, well aside from the awful amount my car is costing me.

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Personal Finances – Sort of Savings goals

As I mentioned in my last personal finance post I’ve only just started getting on top of my finances and being able to manage living on a small pension, a few different disasters have happened recently and I’m getting behind again.  Before I can start working to my serious larger savings goals I need to get on top of my current disasters and feeling stable.

Current Goals:

1) Behind on Rent – $250

2) Renew Car Registration – $650

3) Car Service, replace timing belt and water filter – $1200

4) New car stereo – approx $300

I will update on these goals fortnightly until they are all reached and I can embark on my long term goals.  I’m hoping having it posted on here will make me feel more accountable and less likely to blow my money on stupid things.

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$20 challenge

I just read a fantastic idea over at Get Rich Slowly on finding creative ways to find extra money.  A married couple had a competition where each had $20 and had to use that money to make more money, whoever had made the most by the end of the year won.

I’m going to give this a go and will keep you updated each step of the way.  My aim is to make extra money for Christmas so I will start with $20 on the 1st of June and keep track to see how it grows by the 1st of December.  If anyone would like to compete with me to make it a bit more fun post a comment and we can do a blog link series.

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My Personal Finances – Backstory

I grew up with two parents who are absolutely hopeless with money, watching their sitution go up and down, resulting in the loss of a business, an investment property and one home mortaged to the hilt with my mum working 2 jobs to support us all.  This is not an excuse for my bad behaviour, just an intro that maybe money sense isn’t in my blood.

I moved out of home at 18 and moved to the city, I had an office work traineeship and got a $4000 loan to furnish my home and start out my new life.  My boyfriend at the time had a much higher income than me and supported me a lot, but he also introduced me to a nicer lifestyle than I was used to.  We were both hopeless housekeepers and into food in a big way, we ate out every night and went out partying much more than we could afford, running up massive credit card debts.  The BF ended up leaving his job and suffering from depression, I supported the two of us on my small wage (and a lot of the banks money) for 6 months until we split up.

After we broke up I moved to the north shore and continued living above my means, my income grew by a lot but I was unhappy with the work I was doing and spent constantly.  Then at 21 I found myself pregnant, in a relationship that I had no faith in its longevity, in an industry I hated, and in more debt I could handle on my relatively high wage.  I knew that if I was going to be able to take care of my baby and give us a decent life I was going to have to get on top of my finances.  After working overtime and selling off most of my belongings I unfortunately was left with no choice but to declare bankruptcy, move back home to the mountains (much cheaper rent) and start afresh.

I wanted to spend as much time as possible home with my son, and want to get a real education so that I’m in a better position career wise and able to provide for the two of us on my own.  So (judge as you wish) I am on the single parents pension and studying psychology via correspondence so that once my son starts kindergarten I will have a degree and a real career and income.  The amount I get on the pension, grateful as I am for without it my life would be horrendous, is the smallest income I’ve ever had to work with.  It has taken me nearly two years to start budgeting well enough that I am on top of all bills and able to live relatively comfortably.  My new mission is to be able to do this AND start saving.  Further posts will follow….

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More and Less

Back in February something happened within me that made me take a deep look at my priotities and re-evaluate the people and activities I want in my life.

Things I want:

– Spending time with my son.

– Spending time with my friends and family, eating together, going on outings together.

– Reading, seeing movies, going to art exhibitions, going on hikes.  Activities that are memorable.

– To be kinder to the planet and teach this to my son, more natural foods, no meat, less plastic toys, clothes made with natural fibres, basically to be a bit more crunchy.

– Make the most of toddlerhood.  Flynn will only be this age once and I can’t go back and see the things I’ve missed so I really want to slow down and witness everything this stage has to offer.

– To get really serious about study.  I’m at uni and I need a degree to make a good life for myself and my son, anything that distracts me from this goal has to go.

– To get on top of my finances and start some serious savings.

Things I want less of:

– Negative people.

– Self obsessed people.

– Drunk people.

– Getting my son babysat more than what is absolutely necassary.

– Wasting money on going out or on clothes I can’t afford.

– Going out partying (this does not count birthdays of close friends or going to gigs for bands I love).

– Bitching, fighting, nastiness.  I am an adult and I do not need this.  For 5 years I lived in the city and because of the work I did nearly all my friends were in their 30’s.  Moving back to the mountains and reconnecting with people my own age i’m really noticing the difference in attitude.

Unfortunately my friends that I used to go out partying with are taking this as a personal affront.  I don’t in any way want to lose their friendships I just don’t want to be wasted for the friendships.  Sadly the majority of these people have shown no interest in doing things with me that don’t involve going out and losing brain cells so I guess it’s their choice if the friendship disappears.  The last few months have been very eye opening showing me the differenc between friends and drinking buddies.

Yesterday I posted on facebook bout a gig i’d be interested in going too and got a ridiculous amount of backlash from friends that have taken it personally that I will go to this gig in a pub but not to the million they have invited me to.  But basically back to the last post, breathe in, breathe out and ignore what you can’t control

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