<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > June 30 -Halfway through the Challenges
 

June 30 -Halfway through the Challenges

June 29th, 2015 at 04:02 pm

The moment I've been waiting for has arrived! We're halfway through the two challenges created, yay. So to officially mark where we are $2438 has been saved for the 52 week challenge and $2458.04 has been saved for the Banking the Difference challenge, a total of $4896.04 saved. Woohoo!

Credit card debt is roughly $7.5k now ($4541 for CC1, $3003 for CC2, so rounding down we can say $7.5k), down from $9.1k at the start of the challenge. The EF was $2651 (up from $0) but unfortunately I had to withdraw $265.76 to cover the balance of personal and business spending expenses for the week. And then there's also $745 in the mortgage home offset account.

****

With the savings for the party, we have enough to cover expenses and live on the bare minimum because we are short $4200 which I've earmarked as to be put straight to the party when these funds arrive. So we have the option of using credit cards to cover the shortfall or borrow from the EF. As we have the choice to choose from either I'm going to borrow from the EF. The EF is held in an online trading account separate from our bank (mind you I don't think I've traded for a couple of years! That will change as the EF grows) and earns a pitiful amount of interest, so while we might not earn interest there, at least we're not going to be paying extra interest on the credit cards.

Last weekend we had a birthday party at a restaurant so that was expensive and had to repay $265.76 on our credit cards that we overspent. I'm going to start a tally of how much needs to be paid back to the EF, so far $265.76.

****

B's earnings for 11 months of the year are now $37633, tax payable $3777 (up from $3115). Will need to make up the difference of $662.

*****

Frugal things I've been doing: instead of buying invitations we designed them off a free template, did four to a page and glued them to a thicker paper backing. Found among our wedding invitation things 17 unused good quality envelopes worth $8.95 (woohoo) so only had to buy 20 envelopes. Envelopes, glue, textas and thick paper cost: $10.50.

*****

FrugalTexan inspired me with her banana and oat pancakes! I had a day off today so made them this morning, they were so yum!

*****

Super happy today, I feel like we've done so well!!!

3 Responses to “June 30 -Halfway through the Challenges ”

  1. VS_ozgirl Says:

    Note: we went to a family party at a restaurant so some of the overspending was from that and some was from B's petrol for work

  2. FrugalTexan75 Says:

    I'm glad to hear you enjoyed the pancakes! Smile

  3. VS_ozgirl Says:

    They were great! I usually feel funny after pancakes- too sugary and the flour is heavy- because the only sugar was in the banana I didn't have sugar overload (I have maple syrup on them) and the oats sat in my stomach lighter. I felt great! Thank you Smile

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 9.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]