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Archive for February, 2007

Moving this blog

February 23rd, 2007 at 06:40 pm

I have decided to move this blog to http://lowincomelady.blogspot.com/ Blogger has more features and I have more control over the look of my blog and more options on what I want to do. I love the community here but the features are too limited here.

You are most welcome to visit me there!

Cheers

lowincomelady

Mind Mapping Software - its free!

February 23rd, 2007 at 12:17 pm

I have found some mind mapping software and I am busy putting all my memories into it.

here is the website: http://freemind.sourceforge.net/wiki/index.php/Main_Page

It's great software, I really love it. I picked up how to use it really quickly! I travelled to England when I was 4 and it's surprising how much I remember!

It looks like I will have a no spend day today: yesterday I spent $4.45 on oranges, a golden rough chocolate and half a cabbage. Then in the afternoon I spent $2.70 on corn meat and kids club cost $3 for my son.

Spening total for yesterday: $10.15

Did shopping yesterday

February 22nd, 2007 at 03:20 pm

I did the shopping yesterday. The bill came to $280.66 and also I got $165 out to cover expenses for the fortnight so all up I spent $445.66. I had budgeted $447 so I came slightly under budget.

I also spent $84 on an item which I won't reveal here but it was necessary!

I managed to put $184.44 into my savings account for a total of $235.42. I am going to put aside 135.42 into a separate savings account to save up for an air conditioner. I'll need to save about $2500 to $3000 for that.

I helped a lady with her budget yesterday. We worked out that her only expense which she could lower is her food budget so I have found heaps of budget recipes for her and printed them out and put in a display book. I can't wait to give them to her this afternoon. Also I am going to teach her how to use a computer. She will pay me a small amount, like a tutoring fee. I have worked out a rough guideline to follow as she doesn't even know how to open up her laptop, let alone turn it on! So that will be interesting! I'm not sure how much I will earn doing this but we will work it out next week!

I prayed in the train coming from Sydney on Tuesday that I could get some work and 2 days later its answered! WOW! It's been a long time since I prayed something specific and it was answered like that!

Credit card bill came today

February 20th, 2007 at 09:16 pm

The credit card bill came today for $377.01 and the due date is not till the 15 March which means I can pay it on the 8 March, not tomorrow which means I can make the $900 mortgage payment plus put some into savings. I should be able to save about $290 depending how much the shopping is tomorrow. We have just started to eat healthy and the food bill has gone up as a result. Eating healthy is $$$. But it's worth it and we can still make double repayments on the mortgage.

Plus I will have about $51 in my savings account from selling stuff on Oztion which is an Australian site, like ebay except it has no listing fees, just a 3.25% final value fee.

So I should have about $341 by this Friday in my saving account.

Spending Tally for the day

February 20th, 2007 at 08:20 pm

Well I spent the $8.50 for the diet club (I stayed the same weight by the way). I didn't have to pay any pig fine. (which is $1 if you put on weight and it goes towards the Christmas party at the end of the year).

I also bought 2 DVD holders like a book with 192 spaces for CDs/DVDs in each of them. I was going to buy them tomorrow but I decided to buy them today because the shop is out of the way and I have enough to do tomorrow! They cost 9.95 each so I spent 19.90

Total spent today: $28.40

Oh Yes and another thing!

February 20th, 2007 at 10:11 am

I sold my February copy of Money magazine ($3.50) and also Suze Orman's Australian edition of 9 steps to Financial Freedom. ($2). I am also making a profit of 50 cents on the postage. So that is $6 - 21 cents final value fee - total profit of $5.79. I will get $8.50 in my bank account so I will take the postage costs out of money I already have and add that to my savings account. I will have $51.48 in there once I transfer the $8.50.

Plans for today

February 20th, 2007 at 08:22 am

It's my diet group today and I don't think I have lost weight...boohoo!

I intend to spend $5 for the weekly fee for the group, $2.50 for transport and $1 for rent and if I have put on weight there is another $1 fee which I am not sure if I have to pay as yet, I'll see what the scales say in a few hours. Yes its 3.19 in the morning!

So I am spending between $8.50 and $9.50 today. I'll have to get money out which is sitting in my account at the moment. And tomorrow is shopping! After I have been shopping a lady who has 6 kids is coming over so I can help with her budget... I don't know how I'll do!

I'm back!

February 19th, 2007 at 10:07 pm

I'm back from my trip, I travelled for 5 hours all up and I only spent the $2.50 on my bus/train ticket and also the $4 for the stamps to post my book but the buyer paid the postage so it didn't cost me anything. I resisted subway and a cold drink which I was tempted to buy.

I am pleased with the day!

Off to Sydney

February 19th, 2007 at 11:24 am

Well I leave in less than an hour to go to Sydney. I have a medical appointment. It takes 2 and a half hours to get there so a 5 hour round trip. I am taking my MP3 player that I got as a gift last year and a book on Queen Victoria as I am into Victorian royal history. I still intend to only spend $2.50 but I also have to buy $4 worth of stamps because I don't have enough to post the book I sold last week. So all up I am looking to spend $6.50 today. I have prepared my food and my drinks so I don't need to buy anything, I am all set! I will report here at the end of the day what I spent.

By the way, I love this community already, I have already had quite a few comments and over 200 hits! I read quite a few of savingadvice blogs and they are great! I hope mine meets the standard that has already been set!

Upcoming Payday

February 18th, 2007 at 07:46 pm

Well we have an upcoming payday this Thursday:

Income 1702.72 + $30(book I sold) + 5.18 (in savings account)
so Income of 1737.90

Mortgage 852
Food plus weekly money and pocket money 420
School Fees: 88.62
Credit Card $377.01

which leaves 27 cents. I'm not sure exactly how much the shopping will be. The credit card money will sit in my savings account until it is paid about the 5th March. I like the mortgage payment to be $900 at least and the minimum payemnt is $450 a fortnight but we will try and make it up next pay by paying at least $950 next time.

Pocket Money and Shopping

February 18th, 2007 at 04:32 pm

I have given my son $4 for pocket money this morning. He usually spends it at the canteen.

I am preparing a list for shopping laster this week. We are on a bit of a health kick so there is plenty of fruit and veggies on the list!

Paying off Debt History

February 18th, 2007 at 12:35 am

I was taught as a child to hate debt. My parents are very frugal and I am also. I hate to wate money, I rarely go shopping for fun. I stick to a list when grocery shopping. I buy clothes from thrift shops, I hate to pay full price.

I have just bought a friend her birthday present for $2.61. It is an ebook written by a personal finance blogger and it is designed to be printed out. So I will print it out and present it nicely for her. She is debt-free and is saving money so hopefully it will be helpful for her.

I also did some shopping this morning on grocery items. I spent $19.90 on some fruit, cordial and minced garlic as we had run out of these things.

We get paid on Thursday so hopefully we will be able to get through till then. I want to do my shopping then as there is a special at Aldi for boys underwear that I want to get.

I also have to go to Sydney on Tuesday, I just intend to spend $2.50 on my train fare and that's all. I will take my food and drinks with me.

So spending tally today is $22.51

Introduction

February 17th, 2007 at 10:46 pm

I am a lady on a low income. Well thats what the website says! I am a disabled single parent with a young 7 year old son living with my parents. Together with my parents, I have a mortgage and I manage to send my son to a private school. My personal income is low but together with my parent's income we manage to survive. We are even on track to pay $112 000 of mortgage debt by 2012. We are very frugal people, we do not have any addictions. We have enough to eat.

I need to be able to pay off this mortgage while we have the income to pay it off quickly. There is no way I can afford to pay it off without my parents.

To be exact, our current debt is $112 110.84 and the credit card is $377.01. We will pay the credit card off in full by the 5th of next month. Our household income is 1702.72 a fortnight. That amount will go up by $30 next month.

Our shopping bill is about $250 a fortnight and we pay about $300 for meat every 3-4 months. Bills work out to be about $150 a fortnight.

My Dad collects stamps. This costs $45 a month. He also plays chess, this costs about $13 for every tournament he enters every couple of months. I have a membership at a local video store that costs $44.95 a month. I'm not sure if I will continue with this.

The stamps and the videos are paid for by our $25 a fortnight pocket money. So pocket money for my Mum Dad and I costs $75 a fortnight.

I also go to a weight loss group that costs $8.50 a week, ($5 a week which is given back at the end of the year in a lump sum, $2.50 transport and $1 rent)

Thats all I can think of for now. Join me as I track my budget, my spending and my failures and successes!