November in Review

November closed out Q1 of my debt reduction ‘financial year’ (what am I like?) OK. Even with a few bumps along the way I think I've pulled things back into line after the mess that was October.

First of all let’s see how I did with my:

November Challenges

• Maximise debt snowball payments this month – Done!, the numbers are definitely down this month.
• Live to new budget – Done! I’m a complete convert to the envelope system for bills/purchases that can’t be automated.
• Stash $300 into starter emergency fund – Done! Granted I have an ‘emergency’ next month with moving, but at least it’s in there waiting to be used.
• Send off 'find my super' paperwork and consolidate all my superannuation into one account – Half Done - found all the super, but haven’t rolled it over yet.
  

Savings Identified and Actioned

No additional savings found this month

Big Wins

No Big Wins this month

Little Wins

• Located all my old superannuation accounts to roll over into my current account.
• Stuck to my new budget for the whole month, I’m really chuffed with myself about this one I have to say.
• Didn't fall to pieces when my real estate agent gave me 60 days to vacate my very cheap apartment.
• Didn't pay any late or overdue fees on my credit cards
• Finally claimed all my work travel expenses (won’t be reimbursed until December though)
  

Hurdles And Dips

Need to move before January 24, 2008. I was paying way below market rate for the rent on my unit so I’ll be looking at at least an extra $45 a week ($195 a month) when I move, which will slow the snowball somewhat.

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Not Accepted Everywhere

It seems Australians traveling in the UK are having trouble spending money on their credit cards. It’s not because they are all being frugal and paying cash!

The problem is credit cards containing microchips with a PIN rather than a signature for authorisations have become the norm. Credit cards with magnetic strips are used here in Australia for the most part, and you don’t need a PIN, just a signature.

The UK moved to the chip and PIN security system in early 2006 in a bid to clamp down on its growing credit card fraud problem.

Some shops even have signs proclaiming "No chip, no PIN, no sale''. I do love a good catch phrase like that don’t you? It’s like going to a pub with a "no shirt, no shoes, no service” sign, you just know it’s going to be a classy joint. :-)

The problem is also affecting travellers from the US, where chipped cards are yet to replace magnetic strips. Seems you don’t even need a signature in the US in many cases, but that’s a whole ‘nother post.

As for the ‘Big 4’ banks in Australia, this is where they’re at with chips in cards:

• ANZ has more than 1.7 million chips cards in the market, and were the first to introduce products in Australian around 2001
• Commonwealth Bank is introducing chips on all replacement and new cards.
• The NAB is yet to announce when they’ll introduce chips
• Westpac has announced the introduction of chipped cards on their products

The Australian market has been slow to switch to chips due to levels of fraud, relative to other markets. It’s reassuring to know we’re not quite as dodgy as some other places, especially since we're the ones who were supposed to be the 'convicts'!

It’s worth checking your cards before you travel to ensure you’re not caught out, and to make sure you have a PIN for your credit card when travelling. That said, any shop displaying the Visa or MasterCard signage is supposed to take your card regardless, but it’s one less drama to have to deal with if your card is chipped.

I wonder if this also applies to Visa debit cards?

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Superannuation Hunt Update

I've had great success with tracking down my superannuation accounts from old jobs so far. The account from my years in hospitality (harks back to the inception of the Superannuation Guarantee), has been located and I’m awaiting the amount and details for transferring it.

Payroll at work have advised 2 more days in regards to the super from my first 8 and a half years at my current company (I was retrenched, and then went back a year later). I had a different employee number so it’s a separate account that I’d lost track of.

I've also found the $1897 from my ‘year in the wilderness’ when I worked in an insurance call centre for six months as I had been unemployed for six months and was going mad. I actually made pretty good money there really, plenty of weekend shift penalties to be had plus commissions.

It’s quite nostalgic talking a walk through your career path, to see how far you've come and how you got there.

I’ll really be able to assess how I’m tracking for retirement once it’s all in one spot, which I’m really looking forward to (who knew super was so exciting!).

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Don't Forget To Claim Your Work Expenses

I finally got around to 'doing my expenses' at work yesterday, I had over $500 in taxi receipts to claim from various business trips. No wonder the credit cards don't seem to go down!

I don't have a corporate Amex, so need to use my own cards when I travel, and have them reimbursed. Goodness know why I've procrastinated sending the claims off so long.

Oh that's right, I'm dumb with money.

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No Luck With Citibank

I got a response on my application to switch my personal loan to Citibank. No go.

No reason given, but they did reassure me that my application won't impact my public credit rating (which I still haven't heard back about now I think of it).

So stuck with an ever increasing variable loan rate at St George for the time being.

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