Monthly Archives: July 2018

Killed the credit card

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The credit card is now fully paid off. I ended up just paying it out from the redraw to get rid of it. Although it puts the redraw balance up a bit, I’m just glad to have it paid off. Now I just need to not use it except for travel or emergencies.

The mortgage interest was $487 this month – its finally under $500. This morning I’ve made an extra payment of $1500 which takes the mortgage balance down to $145,367.

I have my tax almost ready to go to the accountant but yesterday in the mail I got a GST form sent about my SMSF. This makes no sense at all as my super fund is being wound up and there is no GST on savings – its very confusing, so I have to try and chase that up today and work out what is going on.

 In the meantime its really cold here at the moment. minus 3 degrees C overnight most of this week and its only going to get colder. When I retire I think I’ll join the grey nomads on the annual pilgramage to chase the sunshine!

Killing the credit card

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A few quiet days at work  and few good nights sleep and I feel quite energised this morning!  I’ve been up cleaning and sorting out paperwork this morning. Today I need to ring up and try and sort out these missing rates payments.

Its time to really tackle the credit card which we were using for points and to leave money sitting longer in our offset account to reduce interest. I’ve reached the point where I just want to stop using it for day to day purchases. The reality is that I spend more easily, and lately as I’ve been tired out, I’ve used to too much buying snack foods and coffee etc.

 So this morning I have removed it as an automatic payment for anything (paypal, a few subscriptions & online shopping sites). I pay off the last months balance each month, so that means the credit card should be at $0 by mid August. Then it will only be for emergencies or travel.

To Do List for July:

  • get completely caught up with paperwork at work
  • finish eating out freezer and defrost
  • complete decluttering in lounge room
  • sort paperwork on kitchen table and clear table
  • set up new files for finances 

this and that

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Another Monday rolls around again and this week I will have a much quieter week at work as its holiday time for the students. For me it will give me a chance to get a lot of paperwork done so it should be a good week.

On the money front –

I have automatic payments set up to pay my rates and its always worked well until now. They have changed the BPay number and so I need to find out where my payments have been going for the last few months! Its $383 that is not showing up as being paid.

I’ve stopped using the credit card for grocery shopping and am starting to transfer some of my regular payments from the credit card over to my everyday account. By the end of they year I want to be not using it all and have a balance of $0.

Right now I’m preparing our paperwork for the accountant. I’m just waiting on my group certificate which I should get this week. I expect a big tax cheque this year which will all go towards debt reduction.

… plodding along!