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 Post subject: Re: 2012 Financial Goals
PostPosted: Mon Sep 10, 2012 2:01 pm 

Joined: Fri Nov 25, 2011 1:06 am
Posts: 50
Thanks Cecily.

At the moment, I am putting money towards the mortgage payoff using the same budget as when I was saving for my deposit. I'm already used to living on that budget and not feeling deprived, so I figure I may as well continue while the mortgage is still fun and new and there are no other goals (ie kids) competing for my attention.

I decided to the move the goalposts because it became obvious that I was going soon going to pass 10k just with my budgeted contributions. 15k will be a slight reach, so it will be exciting and rewarding if I can make it.

My September payment just went through so here is the goal update:
Mortgage principal paid: 9591/15,000 (63%)
Travel fund: 500/2000 (25%)
Reading currently: Alan Kohler's Eureka Report: A Guide to Personal Investing. (Nearly finished!).


I also bought a bike this month and have started riding to work most days. I started this to improve my fitness but I also wonder if this will save me money long-term (train fares, gym membership, health costs?). I have a not-very-serious goal of making the bike pay for itself within a year through reduced public transport costs - we shall see :)


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 Post subject: Re: 2012 Financial Goals
PostPosted: Sun Sep 16, 2012 1:52 pm 

Joined: Fri Nov 25, 2011 1:06 am
Posts: 50
Posting outside my usual once-a-month update to say:

I MADE MY INITIAL 10k GOAL! Wahoo!

Celebrated with a Vietnamese meal and bought myself some crispy new cotton sheets. Clean sheets are one of life's small pleasures, for sure.

Now onto the next 5k.


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 Post subject: Re: 2012 Financial Goals
PostPosted: Sun Sep 16, 2012 4:24 pm 

Joined: Mon Aug 08, 2011 9:13 pm
Posts: 182
Location: Brisbane, Australia
Congrats on making the 10k!


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 Post subject: Re: 2012 Financial Goals
PostPosted: Thu Oct 11, 2012 3:55 am 

Joined: Fri Nov 25, 2011 1:06 am
Posts: 50
October goal update:
Mortgage principal paid: 11,660/15,000 (77%)
Travel fund: 700/2000 (35%)
Reading currently: The ASX (Australian stock exchange) shares course (http://www.asx.com.au/resources/shares-courses.htm)

The happenings:
  • Only two more months until I move into my house!
  • It looks like interest rates are on the way down again, which means more money going towards the principal. Love it.
  • After 6 months I've made 3 years and 9 months worth of progress on the loan... would be excited if I didn't know there was another 26 years or so to go 8)
  • Finally got some income protection insurance sorted out.

Thanks again for the encouragement folks. Tracking things here is def. keeping me motivated.


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 Post subject: Re: 2012 Financial Goals
PostPosted: Tue Nov 13, 2012 2:22 am 

Joined: Fri Nov 25, 2011 1:06 am
Posts: 50
November goal update:
Mortgage principal paid: 14,090/15,000 (93%)
Travel fund: 820/2000 (41%)
Reading currently: Understanding Investments by Charles Beelaerts and Kevin Forde

  • The (year) end is in sight. Still thinking about goals and hopes for next year ... renovations ... travel ... paying off massive amounts of principal ...
  • Got a government credit I wasn't banking on, put it straight towards the mortgage. Love that.
  • I've made 4 years and 5 months worth of payments so far, hoping I will hit the 5 year mark before the end of the year.
  • If I was making the minimum payments I would have only paid off $1623.47 by now. That's nothing. Some people spend more than that on a pair of shoes.

DEATH TO ALL MORTGAGES.


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 Post subject: Re: 2012 Financial Goals
PostPosted: Tue Nov 13, 2012 5:21 pm 

Joined: Mon Aug 08, 2011 9:13 pm
Posts: 182
Location: Brisbane, Australia
$14k paid off. That's awesome!!!


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 Post subject: Re: 2012 Financial Goals
PostPosted: Tue Dec 11, 2012 12:54 pm 

Joined: Fri Nov 25, 2011 1:06 am
Posts: 50
December goal update:
Mortgage principal paid: 16,048/15,000 (106%!!)
Travel fund: 940/2000 (41%)
Reading currently: Think and Grow Rich by Napoleon Hill (not liking this much)


  • 15k goal, demolished. Not quite sure where the extra money came from this month, but I'm not complaining.
  • When my next pre-payment goes through next week, I'll be at the 5 year mark for principal payment! Not back for a loan I drew down in April.
  • I'm moving into my house next week! There's a bottle of champagne chilling in the fridge right now.
  • Saving a little bit each fortnight in a 'Christmas' sub-account has made gift buying so much easier. Definitely going to do this again next year.

Merry Christmas all!

Stay tuned for a 2012 wrap-up at the end of December.


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 Post subject: Re: 2012 Financial Goals
PostPosted: Tue Dec 11, 2012 5:36 pm 

Joined: Tue Jun 30, 2009 9:44 pm
Posts: 308
Location: Atlanta, Georgia
Fabulous news on the mortgage! Must feel great to see your term pass by so much faster than calendar time :) I hope your move goes well. Merry Christmas!


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 Post subject: Re: 2012 Financial Goals
PostPosted: Thu Dec 13, 2012 7:39 am 

Joined: Sun Apr 29, 2007 8:11 am
Posts: 1088
Location: Sunny Florida
Great job on the mortgage!!

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Sam

http://adventures-of-sam.blogspot.com
(Follow Sam's financial and real estate adventures.)


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 Post subject: Re: 2012 Financial Goals
PostPosted: Sun Dec 30, 2012 3:47 pm 

Joined: Fri Nov 25, 2011 1:06 am
Posts: 50
Thanks all.

The move was incredibly stressful and I'm flip-flopping between being excited about this whole home-ownership business to being completely overwhelmed by the responsibility and all the improvements we'd like to do. ONE STEP AT A TIME!

So, I thought I'd take some time out from stressing about paint colours and skirting boards to do a bit of a retrospective on 2012's finances.

What I achieved:
  • Bought my first home - the end result of 7 years of saving.
  • Paid a grand total of $16,548 off the mortgage, which is where I would be after 5 years and 1 month of minimum payments.
  • Took an overseas trip with money I'd saved, (had an amazing time), stayed within budget, and saved $1000 towards the next one.
  • Learned a little bit about investing and the share market, something I previously knew nothing about.

What I learned about money and myself:
  • Tracking spending, creating a million different sub-accounts and updating my goal spreadsheets has been both soothing and exciting. It hasn't made me obsessed with money or taken up all my spare time. I'm clearly a bit of a control freak, but if it only takes an hour a fortnight and it keeps me on track, I'm going to embrace it.
  • I'm blessed to have a partner who understands and shares my attitude to money and financial security.
  • I can have (almost) anything, but I can't have everything. Conscious spending on the things that matter most makes me feel rich.

Now to start a new thread with next year's goals....


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 Post subject: Re: 2012 Financial Goals
PostPosted: Sun Dec 30, 2012 5:47 pm 

Joined: Tue Apr 15, 2008 6:48 am
Posts: 526
Location: Arkansas
Quote:
an hour a fortnight


??? Maybe Im just too much of a redneck. I understand hour, but the rest elludes me

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I can not dwell over that to which I have no control...


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 Post subject: Re: 2012 Financial Goals
PostPosted: Sun Dec 30, 2012 6:29 pm 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 378
Fortnight is an old term -- it has condensed over many centuries from the original term "fourteen-night," meaning two weeks. (Kinda like "Goodbye" originally was "God be with you.") I've always thought it sounded cool. But I'm geeky that way. :)


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 Post subject: Re: 2012 Financial Goals
PostPosted: Sun Dec 30, 2012 7:11 pm 

Joined: Tue Apr 15, 2008 6:48 am
Posts: 526
Location: Arkansas
Thanks for the clarification.

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I can not dwell over that to which I have no control...


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 Post subject: Re: 2012 Financial Goals
PostPosted: Sun Dec 30, 2012 7:34 pm 

Joined: Tue Jun 30, 2009 9:44 pm
Posts: 308
Location: Atlanta, Georgia
CecilyC wrote:
Fortnight is an old term -- it has condensed over many centuries from the original term "fourteen-night," meaning two weeks. (Kinda like "Goodbye" originally was "God be with you.") I've always thought it sounded cool. But I'm geeky that way. :)

Haha, this is funny because I was just reading a comment by chasingthegoodlife in another thread that included the word "fortnight" and I planned to look it up once I finished reading all the new comments in this forum. Now I don't have to -- thanks!


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 Post subject: Re: 2012 Financial Goals
PostPosted: Sun Dec 30, 2012 8:07 pm 

Joined: Tue Apr 15, 2008 6:48 am
Posts: 526
Location: Arkansas
At least Im not the only one he tried to confuse. Now I don't feel so bad :D

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I can not dwell over that to which I have no control...


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