Monday, April 11, 2011

$40,000 Week 1




Following on from my $40,000 in 6 months, I am happy to say we already have $1,250. I was very tempted a few times this week to buy a few things, but I decided my $40,000 goal is more important. Some were only $1, but its the little things that add up.

We were able to keep our groceries low and aim to for the next few weeks, as we have a fair amount of meat and dry goods, so we only really need fresh food. I have my menu plan and we are on track.

The next few weeks will probably be a bit weird for us financially as my husband is changing work slightly and his pay will go from being weekly to fortnightly so we will need to get used to that again. It has been nice having a weekly pay, but we have had fortnightly before, so its ok.

We are seeing our bank this week to discuss options as our mortgage comes off the fixed rate. I am seriously considering changing and have spoken to a broker about our options, so I am going in fully informed. If they do what we want we’ll stay, if not we will change everything. Doing what we want would free up $250 a week and other banks are willing to do it, it would just cost a fee, whereas staying with our current bank is free. Anyway, that $250 can go straight off the car loan then.

We have some things to sell, so will list them in the classifieds and eBay this week. It won’t be until the end of the week as I am in Canberra on my own.

On top of all this I have a garden which is coming along nicely, we have been saving as much electricity and water as we can and are watching everything closely.

3 comments :

  1. Sounds like you are doing great! We might look at some refinancing options soon. To be able to save a few more hundred dollars each month right now would be a relief!

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  2. So tell me AM. When you find a deal on, say car insurance, do you put the money you could have paid into savings? Is that how it works? x

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  3. Basically, yes. Either into the savings or off the small debt we have.

    This $40,000 is a total amount needed over the whole 6 months, some of which needs to be paid before hand at various times, so I am not aiming for the $40,000 as cash in my hand at the end of the 6 months, but instead aiming for all these things paid for (e.g the grandparents visit is planned for soon, whereas the Hawaii trip is end of Oct, but needs to be paid for before we go).

    So we are just aiming on making and saving as much as possible atm.

    Thanks. :)

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