So this is our first weekly expenses log. Starting from the 1st of march this is what we have spent so far. I got paid an extra $ 175 for selling items on my local Buy and sell site on Facebook, I was very happy with the extra money as my hubby is sub contractor and if he doesn’t work he doesn’t get paid, and this week a job got held back (thank goodness this does not happen very much).
Fee for Hubby’s Overdraft -$34.07
Personal Loan 1 -$200.00
Licence payment -$75
Biz Credit Card 1 – $70
Biz Credit Card 2 -$50
iTunes (hubby) $1.19
LOC – $40
Personal Loan 2 -$100
Gas – $25
Electricity – $25
Groceries – $151.22
Health Insurance- $58.34
Total Income $1605.75
P.S I am $50 closer to paying of my gas and electricity bills.
March is a great month for us because there are 5 weeks, So that means that there are 5 Paydays (YAY). I get paid fortnightly and Hubby gets paid Weekly. On the Other hand we have a few extra expenses due to not being current with our Gas & Electricity bills and it is our 10 year wedding anniversary so as you can see we have a huge outlay but after this month it should be a little easier with keeping up with our currant expenses. I have been doing a budget over the last 6 Weeks so it has taken a bit of tweaking and adjusting but I continue to get better every week.
MARCH BUDGET 2016
Home & Utilities
Home Phone & Internet
My Car Insurance
Hubby Car Insurance
Home & Contents Insur
Wedding Annivesary (10 years)
Loans & debts
Biz Credit Card 1
Biz Credit Card 2
Biz Loan 1
Personal Loan 1
Personal Loan 2
My Car Loan
Biz Loan 2
Fees For Hubby Overdraft
Transport & Auto
Mini Goals for March
To be current with my both my Electricity and Gas Bills.
To do at least 6 blog post with my weekly expenses on Fridays and my Budget and mini goals at the end of the month and my Results for March Budget & Mini Goals.
To stick to the budget as closely as I can without going over it.
Have any of you got your Budget ready to go for March yet?? If not ITS TIME FOR A BUDGET!!!!
So as you can all see I was telling the truth, Some of this debt was contributed by an old business that we could not operate anymore(not at our own fault). I would say our debt started after Hubby and I had children and we went from a dual income to living on one wage and NOT adjusting our spending habits. I would say that we didn’t live within our means and mostly because of this we now are left with a lot of mess to clean. As you can see our Mortgage Repayment is very low and that is because we are paying interest only payments until we can eliminate a few debts. But I know I will get to my End goal (with lots of mini goals in-between) which is to be Completely DEBT FREE by 28/11/2026.
I Plan on posting my March Budget and Mini goals on Monday the 29th February..
As of January 13th 2016, I had enough of being called by creditors wanting there money. With that sick feeling in my stomach and stressed and anxious feeling of when I could pay them and keep my word, was a NIGHTMARE!!! I had been putting of doing any form of budgeting, bill tracking or communication with some of the creditors (avoiding calls, or not returning calls) from December and until mid January. I have no one to blame but myself for not taking action earlier. So after I received the call on the 13th of January I decided that that was it! No more avoiding calls no matter how much I wanted to turn the phone to silent and just ignore it. I got myself in this position so I am going to get myself out of it for GOOD this time. That night I sat at my kitchen table with a large notebook and a fresh cup of coffee and wrote down EVERY SINGLE BILL that was currently due, every bill that was due until the end of January, Every Debt from smallest until largest and the minimum amount needed to live per week. I’ll admit that that process was a lot easier than anticipated, The current bills were a lot more than I expected but I did feel a lot better knowing the position I was in and having a plan for where my money is going to go. It was definitely TIME FOR A BUDGET.
The next day I contacted every creditor whom I owed money to and arranged a payment plan with an amount I knew I could pay. I have to say I was absolutely astounded with the genuine help they gave me without making me feel like a failure or unimportant. (I would recommend anyone who feels like they cant pay the minimum amounts or is going through any form of financial troubles to call and speak to your creditors as soon as you can.)
I am in a lot better position now than I was 6 weeks ago. I still have a $1100 to go until I am current with my previous Household bills, but I will be there by the end of March. I will then attack the enormous amount of debt I have.
I have decided to do this blog to hopefully inspire people to get on the right track with there money and I believe the first step is A BUDGET!!! and secondly to keep myself accountable for this long Journey ahead of me.
Tomorrow I will be posting The enormous I MEAN ENORMOUS debt I have and I’m sure you will all be shocked!