Well, the grocery shopping got done and it was a slight blow out! $83.38 to be precise! Admittedly it was a bit of a stock up on the pantry, however, I now have only $123.09 left to last me until the 31st of March. Impossible i hear you say, I'm determined to make this money stretch as faaaarrrrrr as I possibly can.
On another note, I accessed an online financial planner today to see how I can make sure we are set up for life and how to best use the freed up money I will have once the CC debt is all paid off. My dad has always said to me that my generation seem to be asset rich and cash poor, and he certainly wasn't wrong. However, if I didn't payout $1700 a month in repayments (excluding the mortgage), then we would have so much more to invest for our future. The other important thing that was highlighted, was my lack of emergency fund, indicating that I should have an emergency fund of around $20,000. This does seem extreme, but in reality it is probably quite accurate. So I guess this is something I should attempt to work on whilst concurrently paying down the CC debt. In case your wondering, the emergency fund should represent about 3-6 months worth of expenses. Obviously if you are significantly in advance of your mortgage, you may be able to exclude that amount from your emergency fund, and just allocate the amount for all of your other living expenses/repayments.
Anyway, must go, sun is shining and there is plenty of washing to be done! a new batch of muffins is in order today also!
Happy making & saving!