A Financial Reset + Giveaway

Afternoon All,

In Australia – our financial year runs July to June and I LOVE it! This gives me a chance to have a financial reset. It’s an opportunity to reassess my situation and have a ‘fresh’ start for the new financial year.

This year I have decided, I want to treat my personal finances like a business. I found myself wondering if we were to be more aware of our own relationship with money, and choose to ‘own’ it, would we be more successful with our finances?

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Automate Your Finances

Hello All,

It’s Hump Day – hooray! I hope this week has been a productive and accomplished one for you so far.

In this post, I want to discuss the expenses I automate to help regulate cashflow, this was briefly mentioned in my Minimalist Budget post. When it comes to Personal Finances, unfortunately there is no ‘one size fits all’, so this is based on a single income, home owner, living in Australia with no children (I do have furbabies.. if that counts). I would love to hear about the expenses you can automate in your circumstances or country.

This list, I hope, will provide you a chance to think about which expenses you could automate to improve your cashflow. When discussing finances with friends, I’ve found very few concentrate on cashflow – they simply pay the bills as they come (I would be a stressed mess, so kudos to you all!). I’ve also included the expenses that are Direct Debit, to help show how this improves cashflow.

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Financial Goals

Happy Sunday!

A huge interest of mine, more so since studying, is personal finance. I’ve always gravitated to numbers, tracking, statistics it seems. I’ve watched YouTube videos, read books, listened to podcasts and followed many blogs and Instagram pages on personal finance. I have familiarised myself with both Dave Ramsey and Barefoot Investor methods. Unfortunately, I found neither of these particularly resonated with my way of living (or wanting to live). I think this is because I wanted something sustainable or practical to follow. Much like health and fitness or weight loss goals, I wasn’t looking for the quick fix, or a quick way to lose my debt. I wasn’t even looking for a one size fits all solution.

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Tracking Spending Results // Week Edition

Afternoon All,

I have decided to post this a day early. My reason being, I can’t spend tomorrow if I’ve already posted this! As promised, this post shows the results of the Tracking Spending Challenge that I posted on Instagram and Facebook. I didn’t change my spending habits whatsoever for this challenge. I’m not too sure if I picked a good week or an awful week to track spending. This was an out of the norm week that ended up being quite expensive. My cat was due for his annual injections and I hosted family night (which was 2/3 of my grocery expenses).

Nevertheless, here are the results.

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Minimalist Budget

Afternoon All,

When it comes to money, everyone has their particular ways to stay on track, even if simply that means just to survive. If it works for you, that’s fantastic. I can only speak on how I manage my own finances. I would say I hold a pretty Minimalist Approach overall. Why do I say this? In the simplest explanation, I minimise spending and maximise cash flow.

I will be very honest, I don’t follow the Dave Ramsey Process, or even the Barefoot Investor process. In order for myself to stick to something, it needs to be relevant and show that it works in a relatively short time period. I can’t claim ‘I paid $XX,XXX in 6 months’. I am still very content with the progress made. I haven’t had to make extreme sacrifices. However, I have learnt the benefit of becoming aware.

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The Rule of 2

Evening,

In a world where spending money has become easier than ever, I ask you the question, what rules, mantras or guidelines do you have in place to ensure you don’t end up with a debt disaster?

Personally, I told myself to stick to the rule of two. I told myself the maximum number of debts I could manage was at most two. Anything more than two debts and I would be living above my means or living in a state of constant worry.

Well, at least I thought I stuck to this rule. Until more recently, when I took a closer look at my relationship with money. I now realise, I had a lot more than two debts at any given time. From the age I could apply for debt, I’ve turned to debt solutions for my wants and needs. In hindsight, I don’t regret this. It has helped form a good credit score.

At the mere age of 22, I have dealt with the following debts:

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No Spend Challenge | Weekend Edition

Afternoon All,

I challenged myself to a no spend weekend. And here’s how it went…

I started Thursday evening, telling myself I could spend again Monday. I was relatively confident, with fuel in the car, groceries in the fridge and no plans involving money.

Friday was easy – as working took up majority of the day. For the evening, I stopped by at my parents for the weekly catch-up over a drink and nibbles (supplied by them, thank you!) Once I was home, I decided I’d do what I could to make the evening go quick to avoid me thinking of ways to spend money over the weekend. I put on some washing, cleaned my bedroom, worked on some new content for the upcoming week.

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