We have a mortgage offset account and every cent we have goes into there. The result being I don't know how much we have in each category of spending, it's just 1 big pot of money that can be withdrawn at any time. So we save interest but I don't know what we have to spend on things. So I have been thinking about it and I was wondering if it would be better to save for each category of spending. I have about 5 savings account available that I can save for different things. I'll just have to work out a budget and figure out the amounts I need to save. So do you think that would be better to separate the money out or should I continue just putting it into the offset? The savings accounts pay 6% and the mortgage costs 8.07%. What do you think?
Archive for May, 2007
I have lost interest in the finances this fortnight. The mortgage went up. I am so used to it going down every fortnight. We bought my Dad a new computer. That cost about $660 all up plus we have a $589 credit card bill. With the shopping on top of that, it means we have gone backwards. Which means I have to wait until June 14 which is next payday to start moving forward. I can't update the NCN Network because I have gone backwards. That's at www.ncnnetwork.com and I am known as Weight Money Life there, at least that's what my chart is called. So it will be a month between updates. Plus we just received the electricty bill fo $189 which means the credit card will be close to $500 next month as well. So, as I said, I will be happier next payday.
I had a look at the finances and the variable mortgage will be about $300 more than it was last fortnight.
We didn't go to church today, I have had rather a busy weekend so I decided to take the week off.
So it is back to the routine of school tomorrow. My son has a bad cough at the moment but hopefully he will be alright to go tomorrow.
I don't want to look at the finances at the moment! We have just bought a new computer and bought a hindquarter of beef. The computer cost $661 and the hindquarter cost $275. So that has come out of our offset account as we have no savings except for the offset. So I just don't want to look at the moment. We will be getting a carer's bonus at the end of June which will pay for the computer so that is making me breathe easier!
So when I get the guts to look at the finances, I will be able to post more! I think we will probably be able to pay the variable loan by November now, not October but I haven't worked it out as yet.
When I figured out the grocery budget it came to $185 for this Saturday's shopping but now it is $230 because I am going on the CSIRO Diet. That's not too bad!
Oh and I lost 1.7 kilos this week so I now weigh 110 kilos exactly! If I only I could have lost another 100 grams and I could have seen 109.9. Oh well maybe tomorrow!
Oh and my Dad's laptop has been playing up so he has bought a new computer, well its refurbished, not new but it will be fine. We bought it from www.bargainseeker.com.au I bought my computer from there, plus my friend bought it from there too and we are quite happy!
I got a call that my glasses are ready to be picked up so I will go tomorrow and get them. I would also like to buy sunglass shades to go over them too so I will see what they have!
We have just ordered a hindquarter of beef. The last time we ordered a hindquarter was on 30 January and it cost about $300 so I guess it has cost us about $20 a week for meat. We also spend about $10 a week on chicken so our meat bill is $30 a week. We are big meat eaters around here!
Well I have to go soon, I am going to buy some veggies and a packet of chips with those footy tazos in it for my son. the veggie prices are quite reasoable from the local shop, cheaper than the supermarket but you have to watch the quality.
I slept in so I couldn't get the papers. They are sold out by mid morning from the local shop. I went to the library yesterday so I have plenty of reading material!
I have made a cake and a chicken casserole with cheesy dumplings and now I am watching 'The Dish'. My son is being picked up from here soon to go on a sleep over at a friend's place.
So we haven't spent anything today, I have kept to my menu plan. I don't feel hungry and I am relaxing surfing the web!
The credit card balance for this month is $589. I bought an electric blanket for my queen bed, curves membership, school shoes for my son, phone bill and extra groceries.
All that was needed except for the Curves membership which has turned out to be a mistake.
Mum spent 11.37 at Aldi today on some shampoo and conditioner, a kilo of tomoatoes and a kilo of pears. Tomatoes were $3.79 a kilo! I remember when I used to get them for 99 cents a kilo!
The mortgage balance will be 107 139. After next payday which is when the interest is posted and the credit card will be paid, the balance will be 107 095. Its frustrating that the balance will not go down very much!
The balance of the mortgage as of next Friday will be 107 139.23.
I did the shopping today and spent $239.93 on the groceries. I was hoping to spend $218 but we added more things since I calculated that.
I earned a $20 coles gift voucher a few days ago from a survey site. That should arrive next week.
I gave my son 2 weeks pocket money in advance today so he could buy a star wars lego toy he wanted. I hope it is as good as he hopes it will be as he will be without pocket money until the end of May!
I am enjoying this weekend, I rented Happy feet from the video store, we have watched it this afternoon and we will watch it again tonight. It cost $4.95 to rent.
I bought the Sydney Morning Herald and I will start reading it soon. I have already read the local paper. Better get to it!
I spent $2 on some lollies for my son this afternoon and also 70 cents on a banana this morning.
It is shopping day on Saturday. I estimate the shopping will cost $216. We need to get $156 dollars out in cash as well so altogether we will be getting $372 out of the mortgage.
I cancelled my Curves Gym membership yesterday. A $69 payment will come out on the 19 May and I can workout there until the 19 June. Circuit training doesn't seem to do me any good, I feel I get a better workout from a walk which is free! Well I will take advantage of the gym access until June anyway. I needed to try it out and see if it was for me. Just one of those things!
Wehn I get my pocket money back, I think I will start trawling the op shops and list the things I buy on Oztion, I really enjoy doing that. I will walk to town and do that. When I did a lot of walking a couple of years ago, my muscles firmed up and I felt great. Now the weather is getting cooler I might getinto the walking again.
God is wonderful, I won't need to buy any warm clothes for the winter as I have been given a lot of warm stuff and I have found odds and ends lurking in my cupboards. I have found a couple of beautiful jumpers that look really smart. I might go and buy a couple of pairs of jeans though. I have a couple and one is getting baggy and the other I don't like very much, it doesn't feel quite right!
Wow, I have had over 4000 hits on this blog! I love how there is a community feel to this blog...
I bought my son some new school shoes and they are rubbing so I will have to buy some cheap bandaids for next week until his feet get used to them.
I will be getting some glasses for use with the computer in 2-3 weeks. I chose some with rectangular frames, they look cool!
Well, I better think about going to bed, it is 10.43pm at the moment. I don't feel tired but I better make the efoort and try and get some sleep!
Well, I have worked out a shopping list and the total comes to $302, thats $157 for groceries and $145 for cash out.
I went to Curves today and also had an eye exam afterwards. I am getting distance glasses that will also double as computer glasses. She was pleased with how my eyes were, even though I can't see very well out of my right eye, I still managed to read the bottom line of the eye chart with it. She said I compensate well for it and that that was unusual for people who have had it since childhood. When a child is longsighted, they tend to get lazy and take the easy way out but I haven't done that, my eyes work well even though my right eye is fuzzy. I have read a lot as a child and an adult, I am very well read. I do most of my reading on the internet, hence the need for computer glasses. I already have reading ones but I don't use them often as I don't read actual books very often.
I also went to Aldi and spent about $15 getting fruit and bread... it was very heavy to carry home. My weigh-in and measurements are due on the 19 May at Curves. I hope I have done well, I know my weight has gone down, I hope I have lost lots of centimetres too!
My family is going on a holiday. Just a 3 day trip to Sydney staying in a luxury hotel where we can get the 2 bedroom apartment real cheap using quickbeds. We will also go the Sydney Aquarium, Centrepoint and Oztrek and a Captain Cook Cruise! The holiday should cost about $1000. I am so looking forward to it!
I am hearing rumours that the Budget next Tuesday will be a family friendly one. Maybe the family benefits will increase? And hopefully there will be a bonus payment for carers again...
I love Budget night, I watch Peter Costello's speech and listen to the analysis afterwards, plus read the paper next day. Plus it is an election budget too so they will try and get themselves voted back in!
And if I get anything, it won't influence my vote! Teehee!
I rang the broker that set up our mortgage yesterday. We have a split loan and there is $9577 in the variable loan at the moment. When we pay that off, hopefully by November this year, we can shut down that loan (and save the $8 fee YAY!). The rest of the mortgage is in a fixed loan (balance: $98 146). The thing is I won't be able to close the variable loan until I have saved up an emergency fundas if you pay extra to the fixed loan you can't withdraw it. so hopefully by January I will have saved an EF and then we can start paying extra to the Fixed. I am able to pay $10 000 a year extra to the fixed loan so I am hoping to do that. Then when the fixed loan expires in July 2008 it will revert to a standard variable loan and I will just attach an offset account to it. The broker suggested going to a basic loan but I want the convenience of an offset account. With a basic loan it costs $50 to withdraw from it and you never know when you will need to withdraw money!
Mortgages have got more complicated over the years haven't they! LOL