I am SO excited to write this post, you guys have no idea. End of Financial Year has come – the Christmas of personal finance!
To see how previous months spending and net worth is, click here.
This has been my most anticipated post this month and I couldn’t wait to close the books and see the progress. The 30th June marks the end of the financial year, half way mark of the calendar year and the close of the month which saw a big improvement in changing my mentality towards spending and understanding which direction I want to go in my career.
There were some BIG frugal wins this month:
- Half way through finishing personal finance classic book ‘Your Money or Your Life’ which revolutionised the way I value my time and ‘life energy’. I truely value my time and energy now that I can quantify how many hours of work every purchase equates to and I’m already seeing a change in my spending without doing anything.
- Secured a new job in a field which opens a lot more doors and more mentally challenging. New job in the right direction!
- Prioritised the categories that I want to spend less on and the categories that I want to spend more on. I realised that the things I always wanted but thought I couldn’t afford have always been within reach if I change my spending to reflect my values and prioritise the things like I care about.
- I automated my rent, bills AND discretionary spending coming in and out of my bank account. By seeing less available spending money in my bank account, I’m actually spend less!
- Spent barely anything on coffee this month as I’ve been drinking fancy gourmet tea at work which costs a 50c a mug instead of $3.50 for coffee and makes me less jittery.
- I posted 6 posts this month, a big improvement on last month. Read the posts here:
- Three Frugal Ways to… Buy gourmet groceries like a NY hipster while on a budget
- The Top 5 Money Lessons My Frugal Parents Taught Me
- The 5 Money Lessons I Wish I Knew at 18 Years of Age
- The True Cost of Having a Job: Is it really worth working the 9-5?
- Why I’m not repaying my debt, and you shouldn’t too.
- Are your friendships breaking the bank?
- I’m spending less money on junk and cheap thrills and I don’t feel deprived at all. In fact the opposite – I feel liberated from mental clutter.
- I made $287 profit by selling my old clothes on eBay!
… and a few frugal fails!
- Paid $18 interest in bank overdraft and ATM due to an overspend post May holidays. Frugal people aren’t meant to pay interest! Naught naughty.
- Barely went to the gym this month due to zero motivation, yet paid full gym membership fees. Fail!
- Weather became very cold/ I was regularly running late to work/feeling lazy and took public transport to work instead of walking 30 minutes so spent more on public transport than normal and didn’t get any exercise.
Where did all my money go this month? Let’s find out!
To sum up this months spending, I spent an average amount eating out and almost all spending was on catchups over brunch and work farewells. Most days I brought lunch to work so when I did go out for lunch at work I made the most of it. I’d prefer to cut down this section further however and put more of my spending towards high quality, designer clothes. I spent $525 in clothes this month however made $286 in profit from selling clothes online so spending closed on $238 – bargain!
And now it’s Net Worth time!
And, my net worth has increased! I forgot to add in my bond for my rental which I expect to get back, so this has bumped up my net worth. Superannuation contributions increased but my share portfolio gains were flat. Overall, winning!
It’s great seeing the positive impact of small lifestyle changes on my net worth. In 8 months, I’ve increased by net worth by more than $11,000!
How did your June and financial year go? Did you overspend or underspend on your budget? What areas of spending are you wanting to change? Post your comments below!
xx Miss Piggy
Cover illustration by Kelly Smith