Step 3 of the Barefoot Investor Steps is Domino your debts, this means having a close look at your current bills and seeing whether you can negotiate or find a better deal. For me at the moment until I buy my house the only payments I am in charge of are my health insurance and my cell phone bill. This week I will share with you my investigation across current Australian cell phones to you and reveal to you which company I am changing to and how I am getting my next year’s worth of cell phone access for free.
How often do you buy new clothes? What do you do with your old clothes? Do you know what your clothes are made from and who makes them? I bumped into my neighbour, Meg, and she shared with me her new business, Robe & Crown a business where Meg is selling high quality, natural fibre, second hand clothes. In our conversation we got talking about the Slow Clothing movement and Meg lent me her friend Brisbane based entrepreneur and author, Jane Milburn’s, book Slow Clothing. I had seen Jane speak at the 2016 QUT TEDX event and feel quite a lot closer to the ideals she speaks about after I visited India and the garment factories for work with my clients in 2017. This article provides an overview of three lessons I learnt from Milburn to apply to my personal finance journey: repair items, repurpose items and do your research.
I am a podcast addict, there are over fifty different shows I am subscribed and listen to. I prefer podcasts over television as I like to do several things at once. For those of you not in the know I found out last week that I fractured my spine; two places in my sacrum and one in my coccyx and I have been at home trying to heal over the past week, podcasts and books have been the answer for me as sitting up hurts up lower back and these activities have allowed me to lie down. In this post I will share with you my four favourite finance podcasts.
How far are you willing to go to reach your financial goals? I’ve recently hit a wall with my budgeting. A high wall. A $16,500 wall that 15 months is mentally crushing me. It’s is not that much considering how far I have come. Considering that my board and amount of savings I need to budget to achieve my goal is sitting at about 60% of my net income. I’ve come back to Harvard Professor, Angela Duckworth’s book for inspiration. In this article I’ll share with you my recent continued hardaches and the three elements I have come back to in Duckworth’s research to recentre and recalibrate.
How are you going on your 2018 financial journey? Here’s a quick rundown of my first quarter and how I’m tracking, at the moment I have $43,554.79 towards my house deposit and I’m aiming to get to $60,000 for my house deposit by the end of 2018. It was one of those magic three payday months in January and I realised at the end of the month if I wanted to reach my $60K house deposit goal by the end of the year I was going to have to up my saving from $750 up to $818 a fortnight. Bikes was the word for February, lots and lots of money on bikes. In March I booked flights home to New Zealand for my Grandad’s 90th and came to the realisation that the big overseas trip I plan once a year might not be a possibility this year, perhaps instead a smaller trip to Fiji, Rarotonga or Bali. So here you have it, here is my first quarterly spending report for 2018…
I have had a few people ask me about how I’m eating ethically at such a low budget with the $40 grocery challenge. This week I decided to document how I do it, recipes included, and include links through to my grocery receipts on my Instagram to show it is possible. With my challenge I am shopping for one person, I occasionally cook for friends but mainly yours truly. If you are a couple take your budget up to $80 and if you are a family add to your budget again. I’m not always perfect, I go over budget from time to time. With my challenge I am aiming to get creative, eat ethically in order to donate an extra $20 a fortnight to charity.
Can you go into the kitchen and think outside of the box to create something out of very few ingredients? In this article I will discuss and challenge you to shake up your eating and participate in the $40 grocery challenge. This challenge touches your own personal creativity to reduce your carbon footprint to allow you to free up some extra money to give to your favourite charity.
What plans do you put in to action to achieve your goals? For me, 2017 was about getting my finances on track. In this article I will give you the insight into the 10 ways I saved over 30% of my income, $18.3K, towards my house deposit as well as cash flowing four overseas trips in 2017.
I find a visual is better than anything, I’m pretty proud with how I went with my spending and saving in 2017. In looking back at my previous year of 2016 I didn’t manage to save anything so my spending was pretty extreme. So, to have a closer look of where my money went in 2017 have a read below.