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Recent activity

Art FellowHave taken out a term deposit for the first time in my life

I’ve been meaning to do this for a while but I’ve done it finally!

Feeling pretty good because being unable to withdraw what has been put away in my term deposit means at least that money is safe from what feels like unnecessary spending! 11 months ago

kehmeisje 5 years ago

Art FellowI wish I had started doing what I stated in my previous entry...

But it’s not too late right?

After I bought my car, I felt like a huge financial burden had been lifted off my shoulders (because I had been saving for about two years) so when 2012 hit I went a little out of control with my spending. I don’t mean going into debt but I definitely was not spending within my means or have been putting money aside to save. Sheesh.

I knew that I had to do something about this so as a way to get into good habits, I’ve started:

1) cashing my money before spending them now so that I work out a way to get by with what’s in my wallet, rather than what’s in my bank account.
2) keeping my receipts when I pay for things and recording my spendings daily in a notebook.
3) thinking ahead – what I am likely to spend money on in a week and working out cheaper options in advance.

I want to keep this up so that I have money to spend when I go on holiday and also to take out my first term deposit ever by the end of 2012. 20 months ago

ahamino 4 years ago


i’m not sure whether what i’ve been doing is a “plan for financial independence” but i have been keeping track of my accounts. this way, i know what i’ve been spending on and i can somehow devise a plan on how to be thrifty. so far though, i have been on a budget ever since college. i’m pretty much calculative on what i put out for. but now that i’m working, i want to focus on earning and saving money in the bank. earning interest and all that. i need to figure out all that. 2 years ago

she's afraid of the light in the dark

she's afraid of the light in the dark 2 years ago

she's afraid of the light in the darkthis is it:

I realised that, with a minimalist but not spartan outlook, it’s really not that easy to be financially independent once I leave university. I’d only need a basic admin job paying $20/hour to support my needs – and since I’m planning to major in physics, I figure I’ll be earning much more than that.

I’ve calculated my finances to include “luxury” spending of $150 a fortnight, all housing expenses, food, plus $100 each per fortnight towards a house, travel and general savings. All this, and I can easily live for around $500 per week. If I earn more, that’ll all just go for savings.

Right now I’m at uni on a government allowance, and that won’t change until I graduate, so I’m on a very low income with higher expenses because I’m not yet formally sharing with my boyfriend. Soon things will evolve and I’ll have a little more money to save, which is great! 2 years ago

she's afraid of the light in the darkplan

okay, taking into account rent and all other bills, plus food ($100/week), petrol, and savings, alone I would need an income of roughly $1,095 per fortnight to reach financial independence.

if I also wanted to put aside money for travel, this would become $1295, and I would have to work 4 days a week for 8 hours at $20/hour (minimum wage for a decent job after graduating).

if, however, my boyfriend and I shared joint costs, but I still wanted to save to travel, I would need to have an income of $970 per week, working 3 days a week under aforementioned circumstances.

if I did not want to save for travel but we still shared, my necessary income would drop to $770 per fortnight, and I would only need to work 2 and a half days a week under aforementioend circumstances. 2 years ago

she's afraid of the light in the darkoops ...

well, a current budget shows that BEFORE food, I have $57 a fortnight left after all payments. hmm. this is a problem. that’s basically because I have to repayments to make (that will both be finished within two months), plus I’m repaying my stepdad money I owe him. he said only to pay if I can afford it, but even the $20 a fornight I’m paying him won’t help much financially.

$90 of that is money I put away for my car, so when insurance or registration dates come around I get the money straight from there. I might need to dip into that a little.

really, I should be able to get by with $30 a week for food, if I don’t buy anything from uni. I thought (I miscalculated one repayment) that I’d only have $21 a fortnight ($10 a week), so this is three times that amount.

before I reach financial independence I need to actually make ends meet. so we’ll see. 2 years ago

she's afraid of the light in the darksteps

1. work out what my current income/expenditure looks like
2. work out how much I need to be comfortable
3. work out what sort of budget I need to put a little money aside
4. have the long-term goal of independence (off the pension within 2 years) 2 years ago

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