May went pretty well. I’ve continued my writing hustle, had my lowest spend month so far this year and tried to cut back on my spending on shops and food. Read on for more…
For the April report see here.
Below is the breakdown of my spending by category as well as the relative % of my total spend for the month.
Spend minus savings: $2,391.44
- Health consists of my health insurance & medication
- Utilities this month was an electricity bill. We ended up with a credit on our internet bill because of an issue so we didn’t have a bill to pay.
- Auto & Transport includes car insurance, petrol, public transport to work, parking etc
- Misc included postage of items I had sold
Things I did this month
During April I cancelled my gym membership which meant a saving of $67/month. May was the first month I didn’t get the charge out of my account. I also recently changed my contents insurance provider saving around $25/month. I had to pay a $19 exit fee for my old policy but from now on I’ll be paying around $20/month instead of $45/month.
I managed to have my lowest spend month so far this year and the lowest spend on shopping which includes entertainment, stan subscription, movies/books and any purchases such as clothing/decor. I spent $210 this month compared to an average of $377/month over the first part of the year.
Compared to 2018, I am $3,173 ahead for the year so far. From Jan-May 2018 my total spend was $17,231 whereas between Jan-May 2019 it was $14,058. I think that’s a pretty good effort!
Below is the spend by month for 2019.
Savings & Investments
During May, I put $1,170 or 33% of total spend towards my savings accounts which at the end of the month totalled $24,789 for both my emergency fund and savings (not including my sinking funds). I wanted to get to a 40% savings rate each month but didn’t realise that I had to pay 3 lots of rent before I was going to get my next pay. That happens a few times a year and it’s easy to get caught out.
I haven’t added to my portfolio in May but I plan to in June. My ETFs saw a decrease of 0.98% or -$92.91 over May. I’m in it for the long term though so I’m not worried!
As per usual I checked my score on three major websites: Get Credit Score, Finder and Credit Savvy. My score stayed the same on all three. The highest score is around 714.
Do you know what your score is? If you don’t feel free to check yours with Finder via this link for free and you’ll also get a $5 Woolworths gift card just for checking your score.
Just so you know, I’ll also get a $5 gift card too! (This is for Australia only and ends in June)
My current balance (as of 03/06/19) was $51,939. I have seen some dips lately and I assume that’s just due to investments. I continue to salary sacrifice $200/month pre-tax (I think it works out to 4%) into my super fund.
I earned $452 above my usual wage from my job through various sources including:
- Writing jobs via Get a copywriter
- Recycling my cans through Containers 4 Change
- Selling items through Facebook Marketplace
- Referral code from Up banking and a $5 Woolworths gift card
- Savings account interest from my ING Savings Maximiser account
I also signed up to two more side hustle style websites, one for writing articles and one for transcribing audio. I haven’t actually used either yet so won’t provide details in case they aren’t fantastic.
How was May for you? I’d love to hear if you saved money or paid debt?
Let me know if there is anything else you want to see in these reports.