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Banking The Difference deposit

May 14th, 2015 at 04:43 am

As B got paid the other day, and I got paid today, I knew we would be ok to not have to watch every cent this weekend, so I decided to transfer the rest of the Banking the Difference from last week's bill payments, which was the savings on the phone bills - $88.02 for B, and $11.96 for the home phone.

Banking the Difference has now hit just over $2K ($2,004.63 to be exact), which is pretty awesome. Now along with the 52 week challenge money that will become $7.5K ($7,516.63 to be exact). Who would think that just by making a few simple changes there would be such an awesome payoff. I'm so thankful I stumbled upon this site and have you guys to share my experience, cheer me on and inspire me!

As we've really been watching what we spend down to the very last dollar for the last few weeks, this weekend I'm having a mini-celebration. I'm also having a mini-celebration because tomorrow is the 15th of May, our big deadline for work, and this year we sailed through it. Work has become so quiet (I have still have various jobs to do though so I'm not twiddling my thumbs or anything) for before 15 May - this time last year we had to work back every day and it was so busy that as soon as you walked in the door at work your head was stuck in whatever you were doing until you went home - no time for thinking about anything to do with the outside world. So to have everything done on time is really great and such a relief.

I got some nice wine (for more than the usual $6 a bottle - I got nice NZ Sauvignon Blanc for $14 a bottle, $10 a bottle and one other cheap bottle for $4), and I plan on getting Nespresso pods instead of pods from the supermarket. We don't really have any big expenses such as birthdays this weekend so I'm not bothered if we spend a bit more here or there as long as it's within range. Also thinking of making pancakes for breakfast and spinach & ricotta pasta roll-ups for Saturday night dinner.

I also transferred $1303 onto my credit card - $20 banking the difference and $1283 course fees for the latest subject, which starts June 1. I will then be back to working a fulltime work and doing 10 hours of study per week, so am currently looking at ways to structure my time better. I didn't do too badly last time, but time management is crucial with these things, so you have to keep on top of it and not get burnt out, or it will become too much for you.

Don't really have any plans this week other than visiting my sister with my mother for lunch - I usually spend around $20 on these outings and have a lovely time.

Have a lovely weekend everyone!

7 Responses to “Banking The Difference deposit”

  1. crazyliblady Says:

    Can you explain more about "banking the difference"? I have not heard of it.

  2. scottish girl Says:

    You deserve a celebration!! Smile

  3. Ima saver Says:

    Wow! You are doing great. Keep up the good work!

  4. CB in the City Says:

    I usually pay $4 or $5 for a bottle of wine! I figure I can't really tell the difference anyway. Smile

  5. VS_ozgirl Says:

    Crazyliblady - I started this challenge in mid-January with no savings and credit card debt for both me & my husband. I decided to do a double 52-week challenge to save the bare minimum for an EF and make decent credit card repayments. I then created a second challenge which is not set in stone called Banking the Difference- it's where wherever I see a saving in a bill payment or a mortgage payment (we do have this at the moment) instead of spending the money I bank it (allocated in the same proportions as the 52 week challenge). After all we would have had to pay the money anyway so you don't really miss it. I also throw snowflakes to the Banking the Difference challenge too. Around the time I created the challenge I re-did a lot of our bills so we have been able to save a bit.

    Thanks for your support guys Smile

    CB most of the time I buy cheaper wine, so around $6 a bottle but you can taste the difference from the more expensive wines. I save these for celebrating events only though.

  6. FrugalTexan75 Says:

    I agree with the others - you're doing great!

  7. VS_ozgirl Says:

    Thanks FrugalTexanSmile

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