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The Answer to My Question

Finally the answer to my question in my first post.

Just twelve months ago I started this blog asking myself a question that I been wondering about for sometime. My Question was this “What is the true value of my lifestyle now that I am living on a pension?” and still living within my means.

As I have never included my other saving accounts in this challenge only what was money banked into them. The main aim of this challenge was to write a daily account of my life style and living solely on my pension and cash reserves (by this I mean any money that I get within the hour) without going into to my investments. I did start with a small emergency fund as a back up and two credit cards at zero balance and no debt.

After crunching the numbers, I am better off than I was when I started this challenge with the door finished and adding $6000 to the value of my home. I am still debt free as I have the money there to pay any money that I owe when due!

My motto for this challenge.

“Its 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.

So here are the numbers to this question.

I’ve crunched My Challenge numbers. I spent an average of $498.75 a pay, on living expenses, including the major project –Door, over the year after savings but I don’t pay any tax. My Credit Card is balanced now $55.00 in the No % period.

At the end of 365 days these are the totals showing up. That if I was the one who paid original full price for everything that I use, ate or bought in that year, my income would need to be around $24149 and not $13312 that I get in the way of my pension plus some cash gifts and interest.

Here are few numbers to look at.

Pension Income $13312.00
Cash gifts & Interest $1050.00
Banking in $2020.00 & out $1400.00
Major project $1690.00
Money Left $881.00 + Water Tank Money $1540.00
Senior % $3423.49
Other % $8045.38

To recap
My Real Spending Total : $12968.04
+ 2006 - 2007 Total $-t-r-e-t-c-h Savings Tally: $11469.07
= Full Price (RRP) Income Challenge: $24149.11

So that’s a saving of 47.5% on RRP & Senior Discounts savings overall. ($11469)
My senior discount ratio 30% other savings 70%.

Looking at savings and senior discount numbers

Total Savings at following weeks.
4th wk $1343.50
8th wk $2826.02
12th wk $3427.84
16th wk $4590.28
20th wk $5814.26
24th wk $6645.21
28th wk $7521.90
32nd wk $8304.36
36th wk $8886.27
40th wk $9629.66
44th wk $10,018.97
48th wk $10,473.01
52nd wk $11469.07

Senior Card Discount & Senior Rebate Amounts

Rates ___________ $855.00
Car _____________ $322.28
Insurance 55over_ $125.00
Coffee free ______$92.10
Lunch ___________ $79.31
Medical _________ $1309.80
Dr_______________ $180.00
Power ___________ $120.00
Phone ___________ $120.00
Fares ___________ $58.00
Free Cheque______ $96.00
No Bank fees_____ $60.00
Movies __________ $6.00
________________= $3423.49

Power of senior card & senior pension discount rebates is averaging out around $3500 or more if I used the State Travel Voucher once this year on what I have done over past 12 months. Much more senior card discounts are available that I didn’t use 5 – 20% off different things for just showing your senior card.