It’s time for June’s financial report in BKLA land!
I have been looking forward to this all month as I’ve built a custom tracker spreadsheet (read: Mr BKLA did, I just demanded.) and have had the most fun actually tracking expenses. It’s a weird feeling. I tried tracking expenses years ago, I hated every minute and it fell by the wayside very quickly. But it is a whole different ballgame now as these numbers actually mean so much more now.
So last month I did my first ever tracking post. Since then I have done a lot of thinking as to how I want these posts to look like so this month’s will look very different. In fact, let’s get right into it.
June 2017’s Financial Report
Comparisons from last month…
As a couple, last month we used $1686.18. This month, we used $$2109.9. I’m not actually fussed because I actually think my ad hoc manner of tracking in May resulted in mistakes within the financial report so we will see how we go next month before I start worrying.
On my personal expenditures front, last month I used $1724.39, this month it came in at $2345.91. Of which $652.52 of that was on work resources and $226 on a speeding fine.
A few things to note…
- This represents my personal expenditure. Where we had joint expenses, I have half’d it before entering it into my tracker to make sure that I was only tracking my own usage.
- This month’s saving percentage is crazy high because my pay cycle just managed to sneak in to the end of the month. So we had 3 pay cycles (per fortnight) which inflated my saving percentage right out. I know that trying to beat this next month is practically impossible!
- I work as a teacher and due to school budget constraints, I often purchase resources for my students out of my own pocket.
- “Other” expenses for this month include personal clothes shopping, my personal mobile phone bill, petrol and parking for the car.
- “Groceries” include for our cooking purposes and also eating out.
- We went to Melbourne for a weekend.
- Extra expenditures that weren’t planned for: a speeding fine ($226, ouch), an Ultrasound for my not-carpal-tunnel (it’s a long story), and lots of medicine for Mr BKLA as he was quite ill this month.
In other financial news…
I couldn’t talk ANZ down on my mortgage rate, so I gave them the flick and refinanced. Settlement is sometime very soon, but I will be very much looking forward to a reduced interest rate! From 4.55% to 3.87%. I will maintain my usual above minimum payment to the mortgage however, in a bid to pay this down asap. In addition to that, also didn’t have access to any offset accounts before this so I was really losing out on all ends, really. I wanted multiple offset accounts to continue my bucket system, and after much thinking decided to go with Beyond Bank at the advice of my mortgage broker. Which by the way, if you need a recommendation, I was really pleased with her services. If you need a referral let me know so that we can both earn a bit of moolah.
Financial Goal Report…
This is currently the biggest financial goal for us as a couple. This is my share of the bill that we will have the pleasure of incurring. Originally we were going to head to London or Japan. (The bill for that would have been a lot less too) but after changing our plans a few times, we ended up agreeing that the ensuite was in dire need of attention and never being one to do things in halves, I decided the whole thing would be gutted out and the layout of the ensuite entirely redone. Yes, you read that right, it is going to cost us $25k.
Is this a wise investment into this black hole of a house? Many will argue that it is not, and that I will never see that money ever again. And this is most likely true. For a long time I grappled with the decision, but at the end of the day decided to go for it. I think the reasoning for buying a house / doing the renos that I have done is worth a post so I will post about it another day!