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20-08-2013 08:38 #131
20-08-2013 08:41 #132Senior Member
- Join Date
- Feb 2013
20-08-2013 08:41 #133
We did have. Then dp used it all to upgrade his car. So now we have about $100 in there. We do have a house though and if we really really need to we can redraw. Ive been trying to put b at least $100 a fn away but we are living week by week so it's a bit hard.
20-08-2013 08:56 #134
We did, then in the grand tradition of paying off debt so that you actually have savings, we transferred most of it onto my car loan to pay it off. Two days later the cat was in vet hospital being treated for paralysis ticks and we have no savings anymore we have a cat tho, and we own the car, so... It works out I guess
20-08-2013 08:57 #135
I'm huge on having savings.
20-08-2013 09:00 #136
Yes, a fair bit. We're doing IVF so we need to have about $7.5k available at the start of each cycle (we claim with Medicare a few weeks later but need the whole amount upfront), and we're planning for me to have a year off when we finally have bub#2.
We have our salaries paid into the offset account and transfer a small amount into our personal accounts to cover things like lunches, transport, etc. Everything is paid on the credit card which essentially consolidates all expenses into one monthly payment.
This method works well because all our money sits against the mortgage and therefore reduces how much interest we pay, while still having access to our money if needed.
We review/renegotiate expenses regularly and also do what we can to maximize tax benefits.
20-08-2013 11:40 #137Senior Member
- Join Date
- Apr 2012
We do but dont have it in an official saving (i.e higher interest) account.
We usually pay extra on the mortgage so we can redraw if we need a large sum however we are currently in the process of backyard upgrades so all our tax money (+ a large amount of savings) are just in our everyday account so we have it to withdraw/transfer immediately to buy things for garden/pay tradies with.
Once this is over and done with we will pay more onto our mortgage again but I think I might open a separate savings account that we put a little in (maybe $50 a week) just to have as an immediate savings for smaller things.
I do believe if you dont see it you dont miss it and see how I easily flitter away $50 buying non-necessity if it is in the account so I think this would be a good thing to start.
20-08-2013 13:08 #138Senior Member
- Join Date
- Mar 2010
We do. We try a little bit each month, not much, just put it away in a separate account.
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