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Friday, 23 December 2016

Lazy Christmas Update (Progress Report 2/14)

Time for the goals update, but it's also the day before the Christmas holidays kick off, so I'm feeling pretty lazy about writing things out.




Since 7 December
Spending
Home: $219.13 (My share of quarterly gas and electricity, plus new 2 LED light globes)
Mortgages: $1498.06 (Interest only)
Bills: $200 (Health insurance change over and phone bill)
Groceries: $187.87
Travel: $458.95 (Finally balanced out what Mr. FIRE and I spent on our Tassie trip)
Other: $30 on a friends b/day pressie, $108 on the dentist
Total: $2594.01, or  $1095.95w/out mortgages - Eep!!
Note: most of these expensive are sitting on a credit card, so are not deducted from the savings account until the 28th of the month.

Income
Salary: $2200 (bonus end of year payment)
Rent: $300
IP1 Rent: $69.50 (finished paying off the renovations)
Total: $2569.50

Offset Balance: $4800.78
Savings Balance: $4983.31
Total: $9784.09 (up $6,002.84)
Remaining: $10,215.91 - 190days

So those numbers all look a little weird, income of $2.5k but my savings are up $6k. There's no big mystery here. I bought some investment bonds a few years back, and the company has chosen to redeem them. Bonds (in this form anyway) are basically a loan to the company, and they make quarterly payments to you for the life of the bond/loan. They chose to redeem their bonds, which gave me back $5k plus the last quarterly interest payment. Over 3-4 years it's worked out to a 6.5%p/a return (I think, should double check those numbers!), so pretty chuffed with that.

That explains the money up, the expenses. I'm not thrilled. Actually I'm pretty shocked to put out that I've spent $1k in 2 weeks. Breaking it down for myself, of that 1k, 18% is quarterly bills, 20% is monthly bills, 26% is travel (my first holiday in years!) plus 10% of the dentist. So it probably looks more like this:

Bills
Gas and Electricity $180p/quarter = $30p/fortnight
Phone $60p/month = $30p/fornight
Health $85p/month ongoing = $42.50p/week
Dentist
Annual check-up, clean and xrays = $4.15p/fortnight

So break those big ones down to fornightly amounts, the average spend is probably not so unpleasant, more like $700 in a fortnight. $450 of that is travel, so we're looking at $250 in a fortnight.

Except I know it doesn't work that way, and I'm just trying to justify an expensive fortnight.

With all my current figures I'm expecting to beat my goal by $400 - but that's not including any day-to-day spending. That's calculating known costs of bills, but not groceries, drinks with friends, etc. So in reality the current projection is that we're not going to make it. I could cut my monthly investments ($500) but I'm not willing to do that. Which means finding some more income. Somewhere...

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