2nd Monthly Financial Summery for 2015
Here is my second period summery for February .
I have updated my Excel finally so here are the figures for last few months I have been quite busy here.
This for period of 28 days each as I work on 28 day cycles, my dates may be out to calendar months so here are the figures that will bring it up to date as its very near the end of next 28 day cycle.
Reviewing my monthly daily living allowance
Review for February budget.
These are the categories for this challenge.
Items === Approx. Budget===Spent
Fares== ====$15 ======$20.00
Gifts & Donations ==$35
Medical & Diabetes Expenses ===$70====$42.70
Personal Allowance =$90 ===$63.45
Note only one amount is a No Spend
No Spending Days 16 of 28 days
Budgeted for this period $550 spent $224.46 under by $347.41 on general spending.
This saving went into some of my huge bills over this period.
Personal allowance covers health drinks, lotto, books, stamps, craft and hobby supplies.
Eating out including meals out with family and friends, we all go Dutch.
My credit cards are still paid in full each month; it was $825 this period.
Grocery allotment $125 for each period it was under by $79.64 this period.
Strategy - Try to buy brand name groceries on special when you can at 40% off or better.
Viewing the 'Seniors %' Category
2nd Monthly Financial Summery for 2015
2015 will be Living Lean year as I can and being on age pension. My goal and challenge is Living Lean on a Pension.
I have no other extra income other than my pension, so I have to be as crafty as possible to make it my dollars s-t-r-e-t- c -h further than before.
I do have a little amount put aside for rainy day. Which I use when I need to and pay this rainy day account back out of my saving I can find in my frugal living challenge and any saving I can make on getting low bills which of late are increasing instead.
I will try cut back on my food, entertainment areas and personal allowance. I do better with challenges by focusing on certain areas than trying to do it over all challenge in all areas at once.
I will try to reduce my spending on what spend in the supermarket and on treats in personal allowance areas to start with.
I still wish to go on holidays this year, that about 4 months way. I will try to keep expenses down to minimum as I will be staying most nights with family.
Supermarket Spend Challenge - Try to spend less than half over the next 15 weeks.
Normal amount allowed = $472.00 - Target $230 over 15 weeks starting on Friday when my next monthly period starts. Note all my budgeting periods are 28 days in length.
Personal allowance and entertainment will try cut by 30% for now and go lower if I can do so.
So my motto will stand for another year or two.
It's real hard to come up with $1000 but it's easy to find 1000 ways to save a dollar or two!
So let's go and find those 1000 ways to save a dollar challenge and see what's amount is at the end of 12 months.
With each bill rising, some by $36.67 per month, I think I will need to add an extra amount on to annual bill money and find saving elsewhere. That can only be from my daily living allowance area. By how much I will have to wait and see but it s over $700 for the year so far!
My last water bill was $148.25 but my water usage per was $4.80 for the quarter or 17 KL of water, not a lot by any standard, on this bill you have sewage charges too! Power has gone up by 22% on the last year. I have some solar panels so my cost are less than the norm but it will go up somewhat too! The list goes on so I will budget for around $1000 extra and put aside any extra for next year s hikes.
Today I had a senior coffee for free and penny pitcher Carmel Sundae for $1.20 at full price these would have cost about $6.40 for both, I ended up paying only $1.20 for the Sundae.
I did pay my annual Chiro bill the other day and it was the same as last year $540.00 for 12 visits. The normal pensioner/ student price per visit is $50.00 so I'm saving $5.00 per visit now as I get a refund $19.40 from health fund whether I pay $50 or $45.00 per visit. Thatís a saving of $60 per year or 10% off which no bank interest can match anywhere. So save money by paying early.
I had my heart value check again this year had to pay for specialist visit, ECG and Echo test. Total came to $337.00 of which Medicare (GOV) refund came to $252.90 and out of pocket cost $84.50. As there was no change in heart value and the doctor thinks I could have been born with this defect or have had it for a very long time. So I will need to budget for these tests each year to see if there is any change. So same time next year appointments have been made. More tests in a few weeks for something my mother died from. It's a test that I don't like having. Plus I have to see my eye specialist this year too! So more money to the medical sector is in the pipeline.
It's lucky that I can afford to do these tests but then I will pay kept myself healthy as I possibly can. Some pensioners here can't afford do them and are playing the price in pain and stress and years of waiting for free tests and operations.
Strategy - Ask about any discounts and donít worry if you forgot to ask about it, worse they can say is NO if you go back and ask.
I wrote about this in these blogs
Review of my spending plan for Bills!
Hereís a list of some things that was planned and how I went after the six months has pasted.
Only two things that I planned within this six month period are now held over until March -August period.
My chiro is not due until mid - March and fares for my trip to Adelaide $400 are still not booked yet!
Trips - Sydney wedding and visit to my sister later next year but fare need to be paid in this period. (both are interstate.) Estimate $2000
Estimate $1600 Sydney trip cost was $920 saved $680 here on estimate
Out of pocket dental that canít be put off. Estimate $2000 - Dental - $1915
saved $85 here on estimate
Car service that is well overdue so approx. $500
Paid $189 for car service card but still need pay for parts for major service? Had my car service done and tyre fixed $254 = total cost $443 so saved $57 here on estimate.
House & Car Insurance due (these were the ones that I was worried about) Estimate $2700
Both insurances came in $2145 saved $555 here on estimate
Rates and water bills, power, medical fund annual fee, phone & internet fees, car rego. Approx. $5500
- Totals $4305 saved $1195 here on estimate
Over all I did estimated for around about $12,300 with my Age Pension over this time frame under $10,000 so where did I end up with my over estimates and removing air fare to Adelaide from the list.
September to February Bills
Item ====Estimate =====Cost ====Saved
Wedding - $1600 =====$920 ==== $680
Dental --- $2000 =======$1915====$85
Car service ---$500 =====$443=====$57
General bills $5500======$4305 ===$1195
All bills are paid in full with credit on Credit Cards.
Daily Living expenses outside these bills came to $2547 for this period which had to come from savings.
To think I will need to do this all again at the end of the year but less the dentist bill this time.
Planned expenses for next six month estimates is a work progress.
Strategy - Donít spend your forward bill money on trivia, itís been put aside for a purpose and keeps you stress free.
Strategy - Review your bills every six months that you are still saving money with your changes that you made since renewed or changed bill companies. Change your habits if you canít change the company.
Strategy - Put in writing what you are worried about and see the figures then work out an action plan.
Finally I can pay my insurance bills that I was worried about! I spoke about them in these posts.
Tomorrow I will going to the city, can pay up all these and no long worry about them then start saving again after I pay the last two next month.
Review of my spending plan for Bills!
One quote that I set my upper limit at was $650 higher than the final bill. Some households can't just afford to pay insurance on their houses, and after the last flood last week, it may only get higher again next year.
Well my house and contents insurance bill came in $349 above last year about 29% rise. I do have a very low risk of ever flooding here as I am the same height as the hospital helicopter port which is about six stories high on top of the hospital.
My car insurance which is due only 2 weeks earlier has a rise $43 about 9% up on last year. Value has gone down through. But as I get discount by having them all with one company and a senior discount on top this, so I will stay with insurance for another year and review again next year.
As for other bills I will paying my dental bill that I put on my credit card last month and advance payment on the IP bill as I need to make sure that all my bills are paid before the 14 February as I may not be available to pay any after that date and tomorrow is my last day in the city before then. All I need to do now is make sure there is enough money in the bank to pay all these.
I will do a final review of this Bill Challenge in another post. Then will set a new challenge for the balance of the year.
Everything has to go on hold from February 14 as I will not know what I will be doing for a few weeks even I may not be able to come online either. Nothing to worry about either just civil duty service work that I am not too old to do!
Both have a water theme, leaking water to be correct. One was just a simple tap washer that I was able to get my neighbour to fix, I do have a lot of taps washers here so I donít have go out and buy some to do the job, as getting someone to do the job more of a problem. Hot water shower was dripping like mad when I came home yesterday.
The day before I had another drip but this one was a major one, water dripping from a power socket, on a weatherproof switch not good, I turn the switch off to see where the water was coming from and found coming out of the one of the socket for the power plug in part from my solar hot water unit this is the power that pumps the water to the roof for the solar panels the unit and itís not 3 years old yet. I phone my Home Assist people to order an electrician to look at it. With the flooding it will be up to week before they may come out. I was told. Within two hours the electrical company was on the phone and they would have someone out that afternoon, the young guy arrived he looked a teenager to me mostly likely in his early twenty.
He never seen as much water either so we checked the tank and when he pulled on a cord from the switch water came running out of the tank element area it was rusted in so had to be replaced a long with the power switch unit. So it costed 2 hours labour $176 and parts $100 less my senior discount of $88 for one hour labour. Total came to $188.00 all up. Thatís why I rang Home Assist so I could get my discount for how long this service will last I donít know as our state government is cutting cost in all areas.
As had good and friendly service all round so I paid the bill next day. For bad service they would have had to wait full 14 days before I paid it!
Last time I used my washing machine the power point wouldnít work as it stopped in the middle of a cycle. As my washing machine is 1985 vintage I thought that I would need a new one, I do have that money invested so was just about to start looking for new one! Then I decided that I should put the washing machine on power lead to another power point to check if it was still working and it was. So no need for a new one just yet!
I phone my Home Assist Service for pensioners which will pay part of the bill for you thatĎs $88 off bill. Today he came to check my power points in the laundry and fix a light there too! I had the light fittings so only needed to pay for the new power points he had replaced two, I donít like iffy things if thereís a problem its gets fixed with too many house fires with faulty electrical around the place. The total cost of out of pocket expensive was only $36.50.
He also set my mind a rest on the power spikes that I get from time to time. Itís my solar hot water power unit starting up it only goes for a few minutes and not all day at 3500 kWh I will have to learn to live with that.
Strategy - If it can be fixed then repair it, but use the less than half rule on replacement costs rule.