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About Me:

VS-from-oz

I'm a married Australian woman who tries to make the best of what I have and live life to the fullest, while hoping to have some left over for a rainy day.
My husband B & I have a beautiful puppy.

2021 Goals:
- Get a part-time job working up to 20 hours per week and spending 20 hours per week building my bookkeeping business
- Get better work/life balance & exercise 2-3 times per week
- Continue to be careful with spending money

2020 Goals:
- Finish BAS Agent Representative Course and continue setting up my bookkeeping business - COURSE COMPLETED
- Get credit cards under control - BETTER PROGRESS
- Save up for UK holiday if able to - SAVINGS ON HOLD DUE TO PANDEMIC

EF Breakdown
Cash: $ 1.4 months of my average pay
Shares: $ 1.8 months of my average pay
Holiday Fund: $ around 1.5 months of my pay
Payout from Previous Job: 5 months of my average pay
Cash Available in Mortgage Offset: just over $1500

Banking The Difference deposit

January 27th, 2015 at 10:12 am

Tomorrow the mortgage gets paid and as the new monthly repayment (as of last November) is $149 lower, I have paid the difference of $149 towards the mortgage.

Banking The Difference total is now $269.
If all goes well the end of year total saved will be $5,512 plus $269 = $5,781.00.

Posted in Uncategorized | 4 Comments »

4 Responses to “Banking The Difference deposit”

PauletteGoddard Says:
January 27th, 2015 at 09:23 pm 1422393836
1422393836

How are AU mortgages different from fixed-rate? Do they have five-year reamortization schedules like in Canada?
$5781 expected banked total is impressive!
VS_ozgirl Says:
January 28th, 2015 at 06:46 am 1422427579
1422427579

We have fixed rate too, ours came off fixed rate last October so due to the interest rate drop our monthly repayment changed & dropped by $149 which started November. No we don't have five-year reamortization schedules, the average mortgage term is 30 years and it is up to the borrower to make the best loan choice they can. So when your loan comes off a fixed rate it automatically switches to variable as ours has done. We are thinking of possibly moving so don't want to renegotiate a loan until we know for sure.

Thanks, hoping to bank that total, crossing my fingers! (As it's only the first month of the year)
chloe Says:
January 29th, 2015 at 02:55 am 1422500121
1422500121

Nice! Will you be able to bank that $149 every month?
VS_ozgirl Says:
February 2nd, 2015 at 10:37 am 1422873443
1422873443

Hi Chloe, sorry for the late reply back.. I hope to be able to bank the $149 every month, crossing my fingers

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VS-from-Oz's Personal Finance Blog

Balance Is A Wonderful Thing To Have

Banking The Difference deposit

4 Responses to “Banking The Difference deposit”

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