Hi
The mortgage figures for the month of March.
Feb 1 Balance $134 795.20
Payments made $1900
Interest charges $712.55
Closing Balance $133 607.82
Reduced by $1187.45!!!!
This month was a 5 week month which means that an extra mortgage payment was made. We are still paying $380 a week which is $110 above the bank required amount.
Mrs BB
Thursday, 12 April 2012
March 2012 - Budget Review
Hi
It may be mid April but it is never too late to see how March turned out in comparison with the budget we set ourselves
Variable expenses
As I predicted, this month being a 5 week month, it would be a challenge to stay under the $606 grocery budget. But I'm surprised it was only $59 over and not an entire weeks worth. Maybe in June, which will be the next 5 week month, I will try to better this amount.
The other categories have come in under budget. Great!!
Unfortunately we had to put our little fury friend down this month. He wasn't going to get better and the vet thought that this was the best option. We had to spend another $91.30 to do this.
I'm setting aside the $287 that I earned this month for our family holiday next year. The savings from the variable categories will be used to for the prior expenses we had in relation to the vet bills and Mr BB's dental bill. From next month I want to be able to add more to holiday savings and use for our garden renovation that is underway.
Mrs BB
It may be mid April but it is never too late to see how March turned out in comparison with the budget we set ourselves
Variable expenses
- Groceries - Budget $606/month - Actual spend -$665 (-$59)
- Petrol both cars - Budget $368.33 - Actual - $330.91 ($37.42)
- Personal spending- Budget $162.50 - Actual - $14.45 ($148.05)
- Entertainment - Budget $86 - Actual - $68.74 ($17.92)
- Clothes/Personal Care -Budget $164 - Actual $135.60 ($28.40)
- Extra income Mrs BB - $287.70
As I predicted, this month being a 5 week month, it would be a challenge to stay under the $606 grocery budget. But I'm surprised it was only $59 over and not an entire weeks worth. Maybe in June, which will be the next 5 week month, I will try to better this amount.
The other categories have come in under budget. Great!!
Unfortunately we had to put our little fury friend down this month. He wasn't going to get better and the vet thought that this was the best option. We had to spend another $91.30 to do this.
I'm setting aside the $287 that I earned this month for our family holiday next year. The savings from the variable categories will be used to for the prior expenses we had in relation to the vet bills and Mr BB's dental bill. From next month I want to be able to add more to holiday savings and use for our garden renovation that is underway.
Mrs BB
Thursday, 1 March 2012
February 2012 - Budget Review
Hi
Well it's the beginning of March so it's time to have a look at how the numbers for Feb. stacked up against the budget.
Variable expenses
Very happy with the grocery spend again this month. We even had to replenish our meat supply so to come in under budget is great. This month will be a challenge as it is 5 weeks so I will have to stay on top of this category.
The other categories have also been under budget so I can only be happy with that.
The only issue we had this month is a very large dental bill for Mr BB (over $1100 and another $500 planned) and a large vet bill for our little furry member of our family. Our cat has a very distended belly and we are waiting on results from tests to see what the problem is and what our next course of action will be. So far he has cost $420 in vet bills. Although it is a very large amount we really can't do nothing for him, after all, he is a much loved member of our house and it wouldn't be responsible of us to let him suffer if we can do something. We are just very glad that we have an emergency fund saved in our mortgage to cover the extra credit card bill. It makes consciously living in a budget and planning all the more important. It does, however, mean that we can't contribute to our holiday fund this month. All the extra income and our savings in our variable categories will be put towards the dentist and vet this month.
Mrs BB
Well it's the beginning of March so it's time to have a look at how the numbers for Feb. stacked up against the budget.
Variable expenses
- Groceries - Budget $606/month - Actual spend -$530.33 ($76.34)
- Petrol both cars - Budget $368.33 - Actual - $230.92 ($137.41)
- Personal spending- Budget $162.50 - Actual - $16.03 ($146.47)
- Entertainment - Budget $86 - Actual - $67.20 ($18.80)
- Clothes/Personal Care -Budget $164 - Actual $93 ($71)
- Extra income Mrs BB - $205.62
Very happy with the grocery spend again this month. We even had to replenish our meat supply so to come in under budget is great. This month will be a challenge as it is 5 weeks so I will have to stay on top of this category.
The other categories have also been under budget so I can only be happy with that.
The only issue we had this month is a very large dental bill for Mr BB (over $1100 and another $500 planned) and a large vet bill for our little furry member of our family. Our cat has a very distended belly and we are waiting on results from tests to see what the problem is and what our next course of action will be. So far he has cost $420 in vet bills. Although it is a very large amount we really can't do nothing for him, after all, he is a much loved member of our house and it wouldn't be responsible of us to let him suffer if we can do something. We are just very glad that we have an emergency fund saved in our mortgage to cover the extra credit card bill. It makes consciously living in a budget and planning all the more important. It does, however, mean that we can't contribute to our holiday fund this month. All the extra income and our savings in our variable categories will be put towards the dentist and vet this month.
Mrs BB
Wednesday, 29 February 2012
Mortgage progress - February 2012
Hi
The mortgage figures for the month of Feb.
Feb 1 Balance $135 553.85
Payments made $1520
Interest charges $761.42
Closing Balance $134 795.27
Reduced by $758.58
In spite of the interest rate increase made by our bank this month we have run some figures in some online calculators and have decided that we will stick with our bank for the time being. The last rate increase added $0.97 per week to our repayment so nothing earth shattering. Of course the principle of it does stink and we would for that reason change except that we would be far worse off after paying for application fees, valuation fees and an exit fee due to the age of our mortgage. But we will review it again if things change in the future.
Mrs BB
The mortgage figures for the month of Feb.
Feb 1 Balance $135 553.85
Payments made $1520
Interest charges $761.42
Closing Balance $134 795.27
Reduced by $758.58
In spite of the interest rate increase made by our bank this month we have run some figures in some online calculators and have decided that we will stick with our bank for the time being. The last rate increase added $0.97 per week to our repayment so nothing earth shattering. Of course the principle of it does stink and we would for that reason change except that we would be far worse off after paying for application fees, valuation fees and an exit fee due to the age of our mortgage. But we will review it again if things change in the future.
Mrs BB
Thursday, 16 February 2012
What does $154.32 worth of groceries look like?
Hi
So I went grocery shopping again today. With list in hand off I went. When it was all over I had spent $154.32. That's $14.32 over budget and it doesn't include the two milk runs I've done this week or will have to do before the next shop.
So on the drive home I was thinking about the overspend. I thought I had bought well even though it was over my budget. I had bought some shampoo, toothpaste, deodorant etc as well as a heap of fruit and veg. I decided on my way home that I would take a picture of the shop, to have something visual before it all gets put away and you are left wondering where $150 went.
So a quick analysis. First Aldi
Mrs BB
So I went grocery shopping again today. With list in hand off I went. When it was all over I had spent $154.32. That's $14.32 over budget and it doesn't include the two milk runs I've done this week or will have to do before the next shop.
So on the drive home I was thinking about the overspend. I thought I had bought well even though it was over my budget. I had bought some shampoo, toothpaste, deodorant etc as well as a heap of fruit and veg. I decided on my way home that I would take a picture of the shop, to have something visual before it all gets put away and you are left wondering where $150 went.
 |
| Aldi shop - $93.73 |
 |
| Coles Shop - $40.60 |
 |
| Fruit and Veg Shop - $20 (Plus Aldi Bread) |
- In the Aldi shop there was 2x 1kg blocks of cheese at $6.69 each. This will last us till the end of Feb.
- I also bought 2 packs of ham (200g packs) at $3.99 each. I hope this lasts till the end of next week if not a little longer.....
- The other expensive item was dishwasher powder - $3.99. The one we are using isn't finished yet but I wanted to have one in reserve. (The horror of having to wash by hand!!!)
- The big pink 4 litre container is Ice Cream. $4.29
- I bought 2 tubes of our toothpaste on sale $2 each. So this should last for sometime.
- I also bought a reserve tube for Miss BB
- For Miss BB I had to get shampoo and conditioner. Luckily she likes the cheapest brand - $1.90 each
- There was also Coles brand deo for $2.60. This is a reserve item. I hate the idea of running out before we can get another so once something like this is opened I buy the next one.
- I also bought 2 dips on sale 2 for $4. This is a treat for us for Saturday night when Mr BB and I have a movie night planned. Cheaper than going out to the movies I guess.
- Yes there is a chocolate bar for me in the picture which was on sale for $1. It just made it on the picture before it was eaten.
- Nothing really to say about these items. The nectarines may have been a little on the expensive side at $3.99kg. But Mr BB likes them.
Mrs BB
Tuesday, 7 February 2012
January 2012 - Budget Review
Hi
One of the reasons we've decided to keep a blog about our finances is to have a place to be accountable and a place where we can analyse. We are hoping that by recording monthly we can better react more promptly to any trends in our spending.
So how did we do in January, this 1st month of our new budget? Well I would have to say pretty good.
So overall a good month. Lets hope February brings more of the same.
Mrs BB
One of the reasons we've decided to keep a blog about our finances is to have a place to be accountable and a place where we can analyse. We are hoping that by recording monthly we can better react more promptly to any trends in our spending.
So how did we do in January, this 1st month of our new budget? Well I would have to say pretty good.
- Groceries came in under budget (budget $606/month - result $47 under)
- We managed to have 9 "No Spend Days"
- We spent under budget on clothing for the 3 of us (Budget $164 - Spent $83)
- We allow ourselves a small amount of spending money in a month. We spent under that amount (Budget $162.50 - Spent $16.86)
- We run 2 cars with 1 being a small Getz for Mr BB to travel to work. The main family car is a RAV4. For petrol we have $238.33/month for the RAV and $130/month for the Getz. Last month was school holidays and there were are few days where Mr BB had time off so our spend for petrol came in well under budget. RAV spend - $92.53 Getz spend - $81.12 I'm keeping our budget for this area the same because I really feel that $55 and $30 per week for petrol is a reasonable amount as petrol prices seem to be staying at around the 145-150c/litre now.
- Entertainment was the only area of concern last month. We have a budget of $86/month. Last month we had a spend of $130.50. I would probably put this down to school holidays as Miss BB didn't go back to school until the 23rd. A couple of trips to the movies and a McDonalds visit pushed us over. I don't expect to go over this month but it is something to keep an eye on.
- The only cost that caught us be surprise was Mr BB's dental bills. Two trips to the dentist and antibiotics cost $854.60! There is still one more appointment booked so I expect it to head closer to the $1k mark. We will be using some of our saved money and some of the extra mortgage money to pay this bill. It makes me glad we do have this buffer.
So overall a good month. Lets hope February brings more of the same.
Mrs BB
Wednesday, 1 February 2012
Mortgage Progress - January 2012
Hi
One of the goals for our family is to become mortgage free much earlier than 2036 which is when this mortgage ends. In fact we want it gone in the next 6 years.
So at the beginning of January our mortgage sat at $141 532.
During the month of January we decided to transfer money that was saved in an online savings account over last year for a garden renovation to the mortgage account. We are still undecided when we are going to do the garden reno so we thought the money would be better served sitting in the mortgage reducing the interest we have to pay.
We have also been paying more than the recommended weekly amount the bank says. We had decided to bring the amount we are paying more in line with what we could expect to pay for rent of a similar house in our area. So $380 is going weekly to the mortgage account. In February the December interest rate cut will be passed on so we will be paying more to that debt ie BIG 4 bank says $268 per week and we will be paying $380. An extra $112/week
So at the close of January we have a balance of $135 553. A reduction of $5979.
The interest for the month was $783.55
We paid $1520 in repayments.
The transfer amount at the beginning of January was $5242 of which $242 has been earmarked for our USA holiday savings but parked in our mortgage to reduce interest payment.
Once I have looked at the figures for January I may be able to add a little extra money from savings we made.
Mrs BB
One of the goals for our family is to become mortgage free much earlier than 2036 which is when this mortgage ends. In fact we want it gone in the next 6 years.
So at the beginning of January our mortgage sat at $141 532.
During the month of January we decided to transfer money that was saved in an online savings account over last year for a garden renovation to the mortgage account. We are still undecided when we are going to do the garden reno so we thought the money would be better served sitting in the mortgage reducing the interest we have to pay.
We have also been paying more than the recommended weekly amount the bank says. We had decided to bring the amount we are paying more in line with what we could expect to pay for rent of a similar house in our area. So $380 is going weekly to the mortgage account. In February the December interest rate cut will be passed on so we will be paying more to that debt ie BIG 4 bank says $268 per week and we will be paying $380. An extra $112/week
So at the close of January we have a balance of $135 553. A reduction of $5979.
The interest for the month was $783.55
We paid $1520 in repayments.
The transfer amount at the beginning of January was $5242 of which $242 has been earmarked for our USA holiday savings but parked in our mortgage to reduce interest payment.
Once I have looked at the figures for January I may be able to add a little extra money from savings we made.
Mrs BB
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