This thread inspired me to finally set up automatic payments. Aiming to save 40% of my income a fortnight, until recently I was saving half of that and paying off credit card debt, now my credit card is gone I'm not having to chuck anymore money at debt!
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07-08-2015 20:36 #11
07-08-2015 20:58 #12
07-08-2015 21:28 #13
Well done everyone! Its all relative really... extra $2 into savings tonight by rounding down.... Every little bit count right?! :-)
08-08-2015 01:56 #14
I need this, about to go on part pay ( then unpaid) maternity leave. At the moment I'm paying ( via dd) bills weekly, I've worked out their weekly amount and I'm paying slightly more. Once we are a month ( or quarter ) ahead I'm thinking of putting all $$ normally paid weekly in the offset account then just paying as it's due.
I'm actually really stressing about part pay but I need to remind myself it's actually not that bad as we are saving atleast $200 a week ( from reducing childcare days, no transport to work and no buying lunch at work )
09-08-2015 07:15 #15
I didn't do much extra yesterday - just rounded down. $3.55 extra into savings :-)
09-08-2015 12:11 #16
I'll join! I put $100 into a joint savings every fortnight (as does my partner). I also make sure my transaction account stays below $500 every pay by putting the extras into a personal savings account. I'm thinking of transferring a set amount each pay though.
We are saving for a house and I'm also saving for ttc as I think we will go with a FS this time.
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09-08-2015 13:39 #17
My aim is to save at least half of my pay each fortnight if i can. Want to reach $10,000 of savings by end of the year.
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09-08-2015 21:24 #18
Can I please ask what "rounding down" is?
09-08-2015 23:46 #19
You "round down" to the nearest 5 after each spend - transferring the difference to savings - so if my daily account had a balance of 38.50 - 3.50 goes to savings.
Some people use the L3N (last 3 numbers) idea. So if the balance was 38.50, you transfer 8.50 to savings. But at the moment we are on such a low income that I would miss the bigger amounts. By rounding down its a smaller amount at a time so not as noticeable, but the savings balance still slowly increases :-)
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10-08-2015 07:06 #20
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