Sunday, February 9, 2014

Getting Nowhere

There are days when I look at my budget and feel frustrated that we have not made any progression on saving for our next home.

We've actually gone a bit backwards. The balance of our savings account is about the same as it was this time last year, but we are now carrying a credit card balance of $4,000. This credit card balance makes me want to cry, and it's what it defeating me at the moment.

I hate debt. I hate, hate, HATE, debt. My life's ambition is to have nothing but healthy debt at any time. (Debt that was for the purpose of a growth or income producing asset).

Husband and I are on 2 reasonable incomes. We are by no means at the top of the middle incoming earning pool, but we are so much more fortunate than many other families. We rarely buy ourselves clothes, our bills are far lower than many other families I know, and there are few luxuries in our life. So why are we barely breaking even each pay and not really touching that credit card balance? I pay some, we use some.
I know if I want to turn this around, I need to focus on what we are spending money on, and not what we aren't. I've made myself a list of what is going well, what are my short term problems, and where are my opportunities.

The coming months are going to be all about focusing on our opportunities to free up more money to throw at that credit card debt. I need to keep going with the things that work well for us, and hang in there through those short term expenses.

I think I need to consider catching the train to work (yuck!) since Husband I can't coordinate our start and finish times to travel together. My train fares would only be $90 per fortnight, not to mention the petrol savings. Working from home again is not an option right now, but I will snatch that opportunity up again the minute I can.

While a $1,000 per quarter for electricity isn't too bad, I'm sure we can do better. We have gotten pretty lazy about running chargers, computers, & TVs when they are not in use, and these days there is alot of activity in different rooms whereas we used to spend more time in one room - less rooms, less lights, more sharing of heat/cooling and devices.

It's also time to bite the bullet and get Lolly full time out of nappies. We give in to her stress sometimes and let her put a pull up on, she gets upset if she has an accident. I'm hoping now that she is at a new daycare next week 3 days in a room (instead of 3 days spread out) that she will improve her toilet skills. I'm the first to admit that day care does it better than anywhere else.

We can do this. Dentist costs will pass and the credit card will be paid. I just need to get my head back in the game.

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