Having had the lowest income in the country and a load of family requirements AND repairs to be done on the house recently, I've been going backwards - using up savings.
This is what I have left
Check 28.88
Bill paying a/c 417.79 (electric bill of $nz134 to come out)
House 286.13 (this is the one I use for anything to do with the house - repairs, replacing appliances, linen etc) It is kind of a Freedom Fund for dealing with unexpected expenses)
Travel 163.34
Bonds 1180
Hmm, not terribly healthy looking, but at least I'm not in debt. I've got to tighten my belt and do some money building exercises. My goals are:
1. Get the House a/c up to $1000 by the end of the year. If I get this job permanently I'll build it up even more. I'd like to pay for all the repairs in cash and avoid taking out a home equity loan.
2. Hang on to the $1000 in Bonds as a Baby Emergency Fund, eg if I have to do any more travel because of sickness in the family, and then get it up to a full 3 months worth of expenses. $5000 would make me feel comfortable.
3. Start paying into my retirement savings again.
At the moment I have $22.90 in my purse, but I won't get paid until Thursday. I feel a challenge coming on ... can I get by paying for just milk and busfares and make it last?
Time for some Serious Saving
October 15th, 2006 at 02:05 am
October 15th, 2006 at 02:29 am 1160875785
October 15th, 2006 at 09:38 am 1160901515
See if you can not make any trips to the supermarket until payday by living off what you have in your cupboards then go on for as long as possible.