June 2016 Finance Goals
So The reason I'm writing this out is for one really important reason: So I can SEE IT. Although I paid my phone off in full immediately I did hit a snag with my spending, that is this is the week of my sister's wedding. I had to buy a bunch of last minute things and although I'm helping out a lot at home to get this organised, I'm also spending a lot more money than usual. That happens when you're out and about I've noticed! So the bad news is I've had to make a number of transfers from savings back into my cheque account so that it's an amount I feel comfortable with. I know I can spend the next couple of paydays saving a higher percentage than usual since I'll be pooped after this is over, I'll barely be watching tv let alone going to town with purchases. But I still feel guilty for having to dip into savings AGAIN :( I will build that emergency fund if it kills me!!
I'm continuing to make minimum payments only on my student loan for this month (and likely the remainder of the year). I feel that given my loan is interest free although yes it would be nice to have an extra $100 every fortnight, I'd like to sort out a reasonably sized emergency fund and things before I start making the lump sum payments that will get rid of my loan for good.
I've also decided to allocate a fortnightly sum to two categories: Dining out and Clothing. I'm absolutely shocking about food, I'm still learning to cook and a lot of the times it's easier to just not cook but that's a habit I'm trying to break. The Clothing fund has come about because although I have work appropriate clothes - they're all hand me downs or at least three or four years old. Now there's nothing wrong with any of that (although the older pieces are falling apart a little) BUT my job is one where I need to feel confident in order to do it and I've found that wearing clothes that match my personal style go a long way in accomplishing this. And so I've narrowed down the type of clothes I want to be wearing, trying to ensure I can wear the majority mix and match both casually and at work. I have a guide to the clothes I'm interested in so if I see something that matches I can buy it without feeling guilty!! Once I've built my wardrobe the way I really want it, I can start decluttering and getting rid of the pieces I currently own.
Emergency Fund: Save at least $750 in here
Student Loan: Continue making regular payments on this (taken automatically out of my paycheque
Clothing: $250
Dining Out: $50
Groceries: $200
Petrol: $250 (I am WAYYYYYYYY over estimating on purpose, as I just moved and are still working out how often I need to buy petrol for my regular use)
Rainy Day: $50
Entertainment: $30
Rent: $660
Charity:$25
Insurance: $75
Phone: $20
This total comes to $2360 which is under what I make each month so that gives me a decent amount of wriggle room if needed (or extra savings :D).
I'm continuing to make minimum payments only on my student loan for this month (and likely the remainder of the year). I feel that given my loan is interest free although yes it would be nice to have an extra $100 every fortnight, I'd like to sort out a reasonably sized emergency fund and things before I start making the lump sum payments that will get rid of my loan for good.
I've also decided to allocate a fortnightly sum to two categories: Dining out and Clothing. I'm absolutely shocking about food, I'm still learning to cook and a lot of the times it's easier to just not cook but that's a habit I'm trying to break. The Clothing fund has come about because although I have work appropriate clothes - they're all hand me downs or at least three or four years old. Now there's nothing wrong with any of that (although the older pieces are falling apart a little) BUT my job is one where I need to feel confident in order to do it and I've found that wearing clothes that match my personal style go a long way in accomplishing this. And so I've narrowed down the type of clothes I want to be wearing, trying to ensure I can wear the majority mix and match both casually and at work. I have a guide to the clothes I'm interested in so if I see something that matches I can buy it without feeling guilty!! Once I've built my wardrobe the way I really want it, I can start decluttering and getting rid of the pieces I currently own.
Emergency Fund: Save at least $750 in here
Student Loan: Continue making regular payments on this (taken automatically out of my paycheque
Clothing: $250
Dining Out: $50
Groceries: $200
Petrol: $250 (I am WAYYYYYYYY over estimating on purpose, as I just moved and are still working out how often I need to buy petrol for my regular use)
Rainy Day: $50
Entertainment: $30
Rent: $660
Charity:$25
Insurance: $75
Phone: $20
This total comes to $2360 which is under what I make each month so that gives me a decent amount of wriggle room if needed (or extra savings :D).