Widg! I Live in West Sydney!!!! I WORK in West Sydney!!! Go figure!!!
BB- good luck. Sometimes- outside influences and other people can be our biggest battles! But hang in there. I worked out my budget on an Excel spreadsheet. Once you get started- you start cutting out things you didn't think were possible to cut!
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16-06-2011 06:24 #41
18-06-2011 12:03 #42
I understand what they're saying... But those items (fridge etc) are things you NEED. Also the initial outlay to buy them is a once off... They should last you a while! Can you look at putting some things on layby now? I put washing machine, crockery, cutlery, pots, pans, toaster etc all on layby at big w 4 years ago before I moved out. And its all still going strong today :-D
18-06-2011 17:28 #43
good luck reaching your goals!!
We are also on a savings mission! I desperately want to get rid of all our debt in the next 5 years! We currently have a $50,000 car loan, $30,000 of credit card debt and $15,000 in personal loans!!! OMG! (and a mortgage on our house). DH and I both make good wages in the region of $180,000 p.a, so it is not a matter of not being able to afford to repay the loans, we are managing very comfortably really, but I want to do some MAJOR renovations to our house (building a two story extension) and I really want all our loans, bar the mortage paid off before we extend the mortgage to cover the renovations.
So far this week I have dropped our weekly grocerery bill from $400+ for the week down to $150 by meal planning and buying all our cleaning and personal hygine items in bulk onling (on the 'shopping run'). We have also cut out takeaway which we would usually spend $100+ a week on (this includes DH and I buying lunch every day), again I have done this through meal planning and making sure that I've got lots of quick easy options for us to cook.
All in all not a bad effort saving $300 this week just on food/groceries!!
19-06-2011 10:13 #44Senior Member
- Join Date
- May 2011
Ok I am in, I have been watching this thread and going wow how do you all do it.
I have decided enough is enough im starting to save properly. I am going to pay cc debt off as soon as possible (come on tax time) then throw thme out!!!!!!!!!
I have to stop shopping spend so much on stuff i dont need.
MY GOAL is to put away at least $100 every week. I know i can do went on a holiday and did heaps more than that in about 5 weeks had over $800 so why am i broke now.
Need to start getting back on track properly. By the end of the year I want $3000 in the bank account so dont have to worry anymore.
THANKS FOR THE INSPIRATION
19-06-2011 11:23 #45
for me all my 'savings' go onto my debt bar for a couple hundred that i leave in a linked high interest account as a buffer.
I still have well over 10k owing on the card so savings go straight there. In fact most everything goes straight there cause i pay all bills and groceries that i can from the ccard to get fresh spend and thus reduce interest paid (use the interest free days). Using the credit card saves me 50-100 a month on an 11% interest rate.
19-06-2011 11:48 #46
I'm on a savings mission too I'm hoping our tax return will wipe our cc debt then all extra money will go into our mortgage account. I'm going to laybuy things instead of buying out right. Hopefully by the end of the year we will have a good amount of savings. Good luck everyone
19-06-2011 18:07 #47Senior Member
- Join Date
- Oct 2009
It's encouraging to read this and see how well people are doing!
But the setbacks!! Aarrghhh!!
I was doing so well, then I had a minor car accident which ended up costing in the vicinity of $2000 (I was deemed at fault), then I get caught up in class one day and come back only 10 minutes over time to find a nice surprise from the city rangers in the form of a $200 parking fine on my windscreen, THEN I get a letter from the ATO chasing me up over an unlodged tax return from 7 years ago, with a kindly reminder that there will be a $550 fine attached to it.
Disheartening as it is, I guess I just need to pick myself up and keep moving along!
20-06-2011 12:35 #48
That's right! Just pick yourself up- add it into the budget and move along. Save for it now and by the time the bill comes around- you'll have the amount saved plus a little in interest.
Big hugs Mys! Sucks when everything comes at once!
Well, I'm still stingy! As always- it's petrol! I went with one tank last week- almost didn't make it but after a disaster planned lunch (where I got my uneaten meal for free)- I had a spare $10 in my hand! So- in the tank it went. Which now, should get me to tomorrow when I can fill the tank up again!
On the other hand- my cc went overdrawn because of interest charges. I left it until I could pay it (a month later- no fees for overdrawn) and paid it. What happens? Another interest charge! Grr. That's it!!! I'm paying the damn thing off! The interest will kill my savings. So- slight change of plans. My savings will go towards my cc- pay it off than re-commence saving. Still, I class the debt repay a form of savings so I still qualify to be in here!
Good work everyone else though. Doing well.
20-06-2011 13:14 #49Senior Member
- Join Date
- Oct 2009
Extraordinary pay off the cc just means you will have more to save
I going to join u girls, dh and I bought our home 2 1/2 years ago when we were both 2nd year apprentices so we lived tight, saved hard and bought cheap, well with in our means thinking that as we got our yearly pay rise we could save more, life would be easier, only we got slacker and spent right to the limit. We don't have cc so we only spend what we have, we did borrow extra for renovating but still a very modest home loan. Now though we are going through ivf which requires me to save $250 a week, as after this cycle we have cleared our savings :s so back on track!!! Dh qualifies next month so I need to get in the habit before then
I pay water and electricity weekly, so they always come paid and both are now about 6 months ahead
20-06-2011 15:10 #50
Extraordinary I think paying off your credit card first is the best way to go about it. I did this last year. I had a stupid amount of cc debt.. $10k or so..Thanks to the ex then being homeless. I managed to smash this down and had it all paid off by September. So in September i started saving as much as possible.. So hopefully by this September i will have at least $15k. I have just paid my car insurance which had gone up by a $100 and something since last year, have a massive service on my car coming up and i really need to get around to making a really expensive dental appointment i keep putting off.
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