Hi there! I’ve sort of been neglecting this blog a little bit and for that I’m sorry. I’ve been writing for everyone else lately and not myself! Anyway to get back on schedule I’ve decided to combine both the July and August reports together.
For those of you who are new, welcome, I do these reports each month as a way for me to track all of my financials and see how I’m progressing. Each report contains the following sections and you can skip to any of them by clicking the links below:
For last months report see here.
Below is the breakdown of my spending by category as well as the relative % of my total spend for the month.
- Health & Medical consists of my health insurance & medication + any doctors visits etc. In August I also paid $49 for new glasses (my health insurance paid the rest).
- Utilities includes things like gas, electricity, phone and internet.
- Auto & Transport includes car insurance, petrol, public transport to work, parking etc. It was high for August because my yearly car registration ($740) was due.
- In July I bought a new washing machine because my old one had rusted and broken.
July and August were my most expensive months of the year so far. I did overspend in a few areas but I also saved quite a bit so I’m still happy!
Compared to 2018, I spent $3,076 in July ’18 and $4,672 in August ’18 so this August’s spend was still lower than last years. Overall so far for 2019 I have spent $23,802. The same time last year I had spent $28,493 so I am $4,691 ahead for the year so far. I think that’s a pretty good effort! That figure is based on actual monthly spend and doesn’t include any money put towards savings or sinking funds.
Below is the actual spend by month for 2019 so far (again excluding savings and sinking funds).
Savings & Investments
During July I saved $1,915 or 53% and in August I saved $5,907 or 60% of my total spend towards savings accounts. At the end of August my savings account totaled $27,902. My large savings in August was due to receiving both my yearly tax return and my yearly work bonus. See the side hustle section for more info on the extra money. I saved 95% of the side money I received.
I’ve changed the savings goal that you see in these pictures every month to $80,000 as this is the amount I need for my tiny home dream. So far in 2019 I have saved $18,134. This is more than the whole of 2018’s debt payoff and savings. I am really, really proud of that!
The share market took a bit of a hit in July and August. I also made some changes to my investments. I decided to sell my VEU (Vanguard All World Exc. US) as they hadn’t increased in value at all in the 9 months I’d had them. My other ETFs were doing a lot better so it was time to let go. Because I hadn’t made any money off them I didn’t had to pay any capital gains tax.
I then used that money from the sale to buy more VAS shares (Vanguard Australian Shares). In total in July-Aug I saw an increase of only $62, as I said the market fell quite badly during that time so any increase at all is surprising. Below shows the changes over July and August. The jump was the extra purchase of VAS. My portfolio totaled $16,747 at the end of August.
I check my score every month on three major websites: Get Credit Score, Finder and Credit Savvy. My score isn’t really changing very much month to month now which makes sense because I’m not taking on new debt or even paying off debt (since I’m now debt free). My score sits at 741 on two of the sites and 720 on the other. The difference is because they use different credit reporting organisations, two being Equifax and the other is Experian.
Do you know what your credit 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)
My balance as of 31/08/19 was $55,337. My salary sacrifice of $200/month pre-tax has really started to make my balance pick up. Mid-June my balance was $52,965 which means that’s an increase of $2,372.
I earned $865 in July and $5,063 in August above my usual monthly wage from my job through various sources including:
- Writing jobs via Get a copywriter as well as Freelance work
- Selling items through Facebook Marketplace
- Recycling my bottles and cans
- Savings account interest from my ING Savings Maximiser account
- Owed leave from my old job (they had underpaid my leave in my redundancy package)
- Yearly tax return and yearly work bonus at my new job
- Dividends from investments
How was July and August 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.