30 something guy trying to deal with debt

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Sharpe
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Tue Nov 01, 2011 1:00 pm

EF: 625 out of 7000

SL:same as last entry

Sharpe
Posts: 65
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Mon Nov 07, 2011 3:21 pm

SL:$17,945.21

Finally broke the 18 grand mark! I'm working on budgeting a bit tighter so I can ramp up my savings for the big payment in March 2012, this will hopefully take seven grand off the total in one fell swoop.
Last edited by Sharpe on Mon Nov 07, 2011 4:26 pm, edited 1 time in total.

geoff_tewierik
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Location: Brisbane, Australia
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Re: 30 something guy trying to deal with debt

Postby geoff_tewierik » Mon Nov 07, 2011 4:08 pm

Where's the $7K coming from for the big fell swoop?

Sharpe
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Mon Nov 07, 2011 4:25 pm

Savings over the next 3 months. Plus the entire income from my second contract job.

geoff_tewierik
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Re: 30 something guy trying to deal with debt

Postby geoff_tewierik » Mon Nov 07, 2011 4:54 pm

Is there a specific reason why you are saving it up for one big deposit in March, and not adding it in as you accumulate it between now and then?

Sharpe
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Mon Nov 07, 2011 5:20 pm

I can get interest from the saved money over the next 3 months then pay a lump sum (including the earned interest) off my loan. As long as the money goes through by the end of March, I get the 10% government bonus as well on whatever I've paid over $500.

The loan is interest free (0% interest) and there is no benefit in paying it off fortnightly.

geoff_tewierik
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Re: 30 something guy trying to deal with debt

Postby geoff_tewierik » Mon Nov 07, 2011 6:21 pm

Righto, thanks for clarifying that for me.

Wish we could get 0% loans :(

Sharpe
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Tue Nov 08, 2011 2:16 pm

Yeah, a good thing to have it. Having said that I paid interest for about 7 years before I got the 0% offer, so I really need to make this work for me now to recoup my initial interest losses.

Sharpe
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Tue Nov 15, 2011 1:26 pm

Savings to pay off SL:$1140.00 (up 515)

I gave up smoking 4 days ago. I couldn't justify the expense of it. Time to grow up. I'll use the money, $80 a fortnight to quit and then save for more repayments to get out of debt. Finding it hard at the moment, but trying to get through day by day.

geoff_tewierik
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Re: 30 something guy trying to deal with debt

Postby geoff_tewierik » Tue Nov 15, 2011 2:54 pm

Congrats on giving up the smokes, your body will love you for it.

Sharpe
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Tue Nov 15, 2011 3:57 pm

Cheers geoff - taking the nicotine gum is helping. But I'm finding it a bit weird at the moment - mood swings. Stress is really getting to me. But I'm feeling better. Not sleeping well, but hey at least I don't have to worry about budgetting for cigarettes anymore!

Sharpe
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Joined: Wed Sep 07, 2011 3:07 pm
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Thu Nov 24, 2011 1:24 pm

Good news. Got a small promotion effective January 27, 2012 and a comfirmation that I'll be staying in my current promoted level. So I go up and get another $1000, before taxes, a year on top of my roll over promtoion pay, on top of my top scale salary. So, I'm feeling pretty good with myself.

I'm still not smoking. No major challenges to this over the past week and a half which is nice. I don't miss it at all. I really like another step towards freedom. I've noticed I'm drinking more coffee in the mornings though, maybe a normal reaction. I'm also working some stressful hours as I'm also working my contract job as well as my normal 9 to 5. But hey, the dollars will roll in and I can get the student loan monster off my back a bit quicker.

Also - and I know this might sound a bit sickly sweet, too much good news at once in a recession, I made some money off my smallholding. It'll be about $1000 profit - plus free beef for at least 4 months.

geoff_tewierik
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Re: 30 something guy trying to deal with debt

Postby geoff_tewierik » Sat Nov 26, 2011 5:39 pm

Cool, promotion, pay rise, still not smoking and some good beef. Well done.

BTW maybe switch in a cup or two of decaf coffee. Could be you'r reaching for the coffee as a reaction to not smoking, yet adding extra caffeine to your diet wont help in the long run.

FWIW I've been on decaf (tea & coffee) since December last year, and after the first week I didn't notice the difference in taste. I did miss the caffeine rush, but that only took that first week to get over. Now, cutting out the sugar in the hot drinks, that was a lot harder, a long week of craving sugar was survived and now I've done that as well I feel a hell of a lot better for it.

Sharpe
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Joined: Wed Sep 07, 2011 3:07 pm
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Sun Nov 27, 2011 2:35 pm

Cheers Geoff. Will try the decaff idea when I break for the Xmas vacation. At the moment I need the pep up in the mornings. I know I don't need sugar as well, I'm down to one in the coffee/tea. Sometimes I watch in horror as my colleagues spoon 3 or 4 into their cups at morning break. Sugar isn't something I can grow, so I'm going to have to learn to live without it, eventually. On the same track over the weekend I found out how to make my own salt. Which I find I crave more these days, I put it down to not eating any processed foods and working on the land (sweat). Also, if I can produce my own salt then I can end purchasing mass produced salt lick for the animals and supply my own. I also bartered some fresh veges for a bit of beef over the weeknd.

Worked out that after taxes my promotion gives me about $25 a fortnight. That means my income with be over $2000 a fortnight. This in turn means adios to the rat race a little sooner!
Last edited by Sharpe on Tue Nov 29, 2011 5:26 pm, edited 1 time in total.

Sharpe
Posts: 65
Joined: Wed Sep 07, 2011 3:07 pm
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Re: 30 something guy trying to deal with debt

Postby Sharpe » Tue Nov 29, 2011 2:18 pm

SL savings up to $1600. Only $5400 to go! The christmas drain has already begun on my finances. Still, eyes on the prize time.


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