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Archive for May, 2020

52 Week Mega Money Challenge Week 2

May 28th, 2020 at 06:53 am

Because I'm trying to be diligent with our mega money credit card challenge I made sure that on our payday, the challenge payments were made also.

This week it was my turn to have $100 on my cards so I have listed that my share has been paid for the $200 week. I have split the payments into $33 on my NAB card and $67 on my Virgin card; this has been based on the proportion of both cards owing at the start of the challenge.

And because this week it was B's turn to have $65 repaid so I have listed that his share has been paid for the $130 week.

B started his job this week and is going well however they are a lot stricter than his previous firm so he is really busy trying to figure out all of the new practices. They are different to his last company because their business practices are really well developed - they even have their own app for payroll! All he has to do is put his password in at any time and he can see all his payroll information which is so different to his last company, who really withheld that information. I think it will be good for him working there.

Not much to report with me, I am plodding along. We did buy a BBQ over the weekend, as we haven't owned one for years and have friends visiting us so are looking forward to breaking it in!

52 Week Mega Money Challenge Week 1

May 21st, 2020 at 07:25 am

To get our credit cards under control, I have decided to do a 52 week challenge, as these have worked so well in the past. This time the one I am doing is the 52 week Mega Money Challenge which starts at a $5 payment and finishes at a $260 payment. The total amount repaid on our credit cards would be $6890, which will be split exactly in half.

B owes roughly $3700 on his and I have two cards in which I owe around $4200 excluding the pet expenses which we will be repaying soon.

I have listed two columns, one listed B and the other listed V.

This week B needed $100 on his card so I have listed that his share has been paid for the $200 week. This week I needed $65 repaid so I have listed that my share has been paid for the $130 week.

I am really aiming to be diligent with keeping up the challenge and look forward to lower credit card balances!

DH Got A Job!!!

May 19th, 2020 at 02:22 am

Very happy to say that yesterday DH got offered a job!

He had a second interview on Friday with the company's general manager and got offered the job yesterday.

He did have to take a $10,000 pay reduction however paycuts are happening right across the industry so we were prepared for that and were fine with it. What he is getting paid is still good for us and we can continue to live comfortably.

He starts next Monday, and it makes him unemployed for just under a month, which isn't too bad at all in this current climate. We're just so happy that he got something so quickly. He thinks the people are ok too, so fingers crossed it all goes well.

We will have a bit of the redundancy package to spend on house items and save away, which is good. At this stage we are unsure of how much will be left as his employment contract says he is paid one month in arrears so we need to see what happens there.

We had pizza for dinner last night to celebrate Smile.

I have decided to embark on a 52 week mega money challenge to repay back both of our credit cards, will write more about that later in the week.

For now, we are just enjoying the lack of uncertainty!

Restrictions Eased In Our State Today; Covid Savings

May 11th, 2020 at 07:19 am

Our state had our restrictions eased today however not as much as other states. While cases have dropped dramatically in Australia, our state's cases have had the highest rate of new cases (14 overnight while other states have had 1).

Mother's Day was yesterday and other states eased their restrictions on Saturday so there were many celebrations. Our State Premier held off announcing restrictions until today which angered many people as they could not celebrate with their families. I think it was the best choice though because while the cases are dropping we are still in a pandemic and nothing is back to normal yet.

Our restrictions are still roughly the same- workers have still strongly been encouraged to work from home where possible, however now we are allowed to have up to 5 visitors in our homes and hiking, golf and other exercises which are non-contact and non-close contact are allowed.

I have missed my two closest friends so we have arranged to have a get-together at my house on the weekend. The weather is supposed to be nice so we will sit outside. In light of it still being a pandemic though I have said I will not be serving any food or drinks and we should not share food or drinks, so BYO whatever you feel like eating or drinking. It will only be a bit of a catch up outside and there will no hugging or kissing on cheeks obviously. So excited!

I have read something today about the amount of money people working from home have been saving on commutes and have realised that for this month we would have spent about $140 on my train ticket. I did not include this in my budget and am just thinking that perhaps while I work from home to leave this aside for an expected increase in heating and electricity costs. The government has said that employees working from home can claim a deduction for home office running costs however this won't be received until after June 30 (our tax year end) whenever we lodge our tax returns. The actual gas and electricity bills will be received before that though so it might be a good idea to set this aside.

Are any of you saving money due to working from home during Corona Virus?

Wednesday Ramblings

May 7th, 2020 at 09:32 am

Couldn’t think of a name for the blog post so Wednesday Ramblings it is 😊.

We have been going ok with our reduced redundancy budget.. I’ll call it that because that’s why we’re trying to stretch what we have. Of our $410 from last week the last of it got spent today. Groceries were just under $150 and of that we bulk bought sausages and lemon pepper chicken pieces. They are saying meat is selling cheap here however I saw it going cheap a couple of weeks earlier- we got 4 schnitzels for $2, 2 x Malaysian coconut chicken skewers at $2 each, lamb sausages for $2 and kangaroo meatballs for $2. Lately it’s not so cheap. However I know from past experience that when you are on a reduced budget meat can tear a hole through it so my aim is try and bulk buy as much as possible.

DH went for an interview last week and has a different interview this week. He is applying for jobs daily however is up against a lot of applicants. For example today a job closed and they revealed 137 other people applied. Meanwhile while we are trying to stretch what we have for as long as possible his family are trying to push us into buying shares to make money! DH got pretty upset because his family are totally not on our wavelength and are super comfortable. While we can last a while before unemployment benefits are required and it does not look like we are anywhere close to losing our house, we are most certainly not going to put our money into a volatile share market... much better to see clearly what we have for each month.

Today my employer contacted us to say that he qualifies for the JobKeeper subsidy (an Australian government initiative which pays businesses $1500 per employee per fortnight that they forward on to the employee so that the employer is relieved of paying their wages for up to 6 months). He did not say anything about our jobs or wages in the email and spoke more about using the money to cover IT costs and to get us to upgrade our home offices. I didn’t think JobKeeper would be replacing my income because of this but still called to clarify and luckily I was right. I completed the form and then decided that the things I need to bring my home office up to standard is a stand for the main monitor to bring it in line with my head height and another monitor as my work likes us to work with two monitors. B (DH) is going to work with me over the weekend to clean up the home office and set it up and hopefully we will get reimbursed for this soon.

My boss also offered to put me back on to 5 days a week which was really sweet as he knows B is unemployed now. I have been working Fridays as I have been behind and finally made the time up, and was looking forward to having my Friday back (plus am stressing about my course i am behind on). I thanked him and let him know I would think about it, but just want a bit of a rest this week. If B cannot find work and I went to 5 days per week it would be an extra $800 pay per month and I would probably have to do my course and bookkeeping business stuff on the weekend. For this week though I need a bit of time to rest.

In other financial news, an Australian financial institution has come under fire for readjusting the amount of money their customers can have in their mortgage redraw without telling them and putting the excess funds on to the mortgage balance as a repayment! Some people lost up to $24000 of available funds and it has sparked outrage because some people needed that money and were simply parking it for the time being. As soon as I read that I instantly moved part of B’s redundancy package we parked in our offset account into a different savings account not linked to our mortgage. Scary stuff.

In non financial news I am missing our cat like crazy. It was 2 months today. My mind is rational and says it was her time and it is good she is not in pain anymore but my heart still can’t comprehend she’s gone and there is a big hole there. Of course we’re very thankful for the 18 years of wonderful memories but it’s still hard. Our dog has recovered really well from her eye problems which is great, she is not in danger anymore. She’s nearly 18, who knows how long she could live to? (She still has quite a bit of energy)

We find out on the weekend if lockdown restrictions in our state are loosened however even if they are I don’t plan on doing much while this virus is around and we are heading into winter next month here - will probably lay low for the next few months.