monthly spendings

Financial Report: June 2017

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

June Financial Report - Big Kid Little Adult

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…

  1. 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.
  2. 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!
  3. I work as a teacher and due to school budget constraints, I often purchase resources for my students out of my own pocket.
  4. “Other” expenses for this month include personal clothes shopping, my personal mobile phone bill, petrol and parking for the car.
  5. “Groceries” include for our cooking purposes and also eating out.
  6. We went to Melbourne for a weekend.
  7. 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 BankΒ 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…

Bathroom goal tracker

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!

7 thoughts on “Financial Report: June 2017”

  1. That’s such a tidy report πŸ™‚ Is the 20% mortgage the interest only, or the P&I? Either way, great work!

    I know how you feel about the bathroom. We need a new toilet, and have since we moved in three years ago… I’ll get to it, I swear… I just don’t to do the toilet and leave the rest of it with the ugly granny colour scheme :p

    1. It’s P&I. I have to admit I never even knew you could do interest only till recently. That said, I do hope I never have to make the hard decision whether or not to stay P&I or just pay interest only. I want to get rid of this mortgage asap!

      And yes, that’s precisely it. If I have to replace most of the fixings (it’s the sink, toilets, showerhead and all the tapware for me too) then I’m going to do it properly so I can at least feel happy about the whole thing. But still, 25k!!!

      1. 25k hurts – y’know what hurts worse, a toilet that splashes on your toes when you flush πŸ˜‰ just the tiniest of tiny bits – but that shows how utterly lazy I am, three years of this!

  2. I was surprised to find out how much teachers spend on essentials for their students. It’s a huge out of pocket expense. And it drives me crazy when people justify it by saying “oh, its tax deductible.” Well yes, but it’s still costing them 60% to buy things that should be supplied.

    We had our bathroom done 4 years ago, and I really do still appreciate not walking into the peach and brown colour scheme of old!

  3. June was a month of wins for you, congratulations! That interest rate reduction is so good, well done! You’ll be mortgage-free sooner. πŸ™‚

    Speeding fines aren’t cheap. My partner used to get a few in a year (Victoria makes a lit of money from speeding fines) but he started driving slower because he realised how much money he’s wasting.

    How was your stay in Melbourne, btw? I hope your not-carpal-tunnel is getting better. I also hope it doesn’t hurt to the point that you can’t sleep at night (my SIL has it and she said it’s super painful that she stays up all night unless she takes pain killers).

    1. Ah thank you! And yes, that is indeed the plan – to be mortgage free sooner. As soon as I can, really!

      I think all our oz states make a ton from speeding fines. When I used to live in Vic, I got hit with parking fines a lot. This was my first speeding fine in over 10 years of driving, hopefully my last. I once got hit with a red light fine too (I was behind a bus and couldn’t see the lights coz of the bus and assumed wrong). Now that was a crazy expensive fine. It was nearly $600!!

      Melbourne was great. We used to live in Melbourne for about 10 years before moving away so it’s always great to go back and see how the city has grown. My not-carpal-tunnel isn’t as bad it used to so no more pains at night but it has its good days and its bad days. It’s argh!

Leave a Reply

Your email address will not be published. Required fields are marked *