The Ugly Truth – Day 405

Debts

• Personal Loan: -$20,320
• Credit Card 1: -$6,223
• Credit Card 2: -$9,938
• Credit Card 3: -$5,125
• Credit Card 4: -$10,763
• Credit Card 5: (paid in full)
• Credit Card 6: (paid in full)
• Credit Card 7: (paid in full)

Savings

• Emergency Fund: +$2,000
• Car Fund (Maintenance & Registration): +$125
• Short Term Goal Fund: +$1,135 (Current goal is new bedroom furniture)
• Home Deposit Fund ($60,000 Goal): +$1,000
• UK Tour Fund ($10,000 Goal): +$500

Total: -$52,369
Debt reduced from last month: -$665
Debt reduced from Sep 2007: +$4,403

Ouch, that’s not good is it? I've gone backwards $665 debtwise this month, due to overspending on Credit Card 2. I did have some things I had to buy, but had no idea I’d spent that much. I’ll have to go through my statement & find out where it’s all gone to.

I also spent a week in Canberra looking after my nephew, so there were extra petrol costs & added expenses from enjoying myself and taking him places.

It may also have something to do with completing my update 9 days later than usual; my accounts have accrued their new interest for the month already I’m thinking? Not to worry though, it’s onward & upward from here.

I need to send off my balance transfer to move the balance from Credit Card 3 to Credit Card 4, which has a lower interest rate. I also got another Credit Card with a $5000 limit & 6.99% for the life of balance transfers, so will be moving as much as possible from Credit Card 2 to it as soon as I can.

I was actually hoping to get under the $50,000 mark this month, I’ll have to wait until at least the November update now. I expect that to be a better news story, as my personal loan will also drop below $20,000, which is another of my 2008 financial goals achieved.

Roll on payday.

Subscribe in a reader or Subscribe via email

IKEA Heaven

The new IKEA catalogue has landed! A new IKEA catalogue is as exciting to me as a new Apple product launch would be for other people. I just love their stuff and daydreaming about my perfect apartment set up.

I show restraint though and don't actually go into the store unless I have a very specific item to pick up, as it's completely set up for the impulse buyer. It's an incredibly clever marketing and sales strategy really, which I have to appreciate!

My current goal fund for new bedroom furniture will be spent almost entirely at IKEA, and I've now worked out I'll need just under $2,000 to realise my goal. It's a complete refit of my bedroom, with queen bed and latex mattress, bedsides, lamps, a chest of drawers, new pillows, doona (quilt/duvet/comforter) & linen.

Yes it's a lot of money, but the ensemble I'm sleeping on is well over 15 years old, so it's worth spending decent money on something you'll spend a third of your life in. A good night’s sleep helps you in so many ways, from protecting your health to being more focused at work and with your family and friends; it should be invested in wisely.

This weekend will be dedicated to drooling and daydreaming. I may even take the catalogue down to the Posh Garden Centre to enjoy with this month's my free coffee! The weather here is just glorious at the moment, when it's not pouring with rain of course.

Work and study have been so full on the last few weeks; it’s going to be nice to just think about lovely new things for a change.

Subscribe in a reader or Subscribe via email

Employee Of The Month – Me!

We had our monthly team meeting last week, and I was awarded employee of the month for leadership and work I’d done of a couple of projects. Go me!

The award gives you $150 to spend on anything you’d like, and you then expense it back to work. I thought it best to not spend the lot on flavoured Absolut, might send the boss the wrong message when he approves the expense claim! *lol*

What to do with it then? I spent some time over the weekend trying to think of something to buy with it and it was the weirdest thing, I couldn't think of anything I want!

I can’t take in a credit card statement and expense $150 of it even if I wanted to, it has to be on something. I did think of that one though.

I was thinking I might splash out on a haircut and colour at a posh salon, but I’m perfectly happy colouring my own hair and just getting the haircut wherever is convenient (I have a very simple haircut).

I could spend it on books, but I’m trying to get rid of all the books I already have and don’t read as it is, and I have an excellent library I go to where I can get everything I want to read for free, so that’s out.

Possibly a new pair of sneakers to jump start my health and fitness efforts? Since I cancelled my never used gym membership a while back I've been meaning to get more walking into my daily routine.

I also wouldn't mind a thermal walled coffee press. As I live on my own, being able to make two cups at a time and keeping that second cup hot would come in handy, especially on weekends.

Maybe new bed linen once I get my new bedroom suite?

Go extreme and take myself off to BridgeClimb? Not too much fun to go on your own though, that's a shared experience I reckon.

What do you think? I’m open to suggestions on what should I spend this windfall on, it was given as a reward for my efforts, so I’d like it to be worth it, but not waste it on clutter.

Subscribe in a reader or Subscribe via email