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Browsing tag: money

  • February 5, 2010

    Insurance – the necessary evil

    It’s official: I’ve decided to stay with AMI for both our car and contents insurance. I could save a very small amount by changing providers for our contents (T doesn’t have the best of driving records, so we don’t have much choice for the latter), but I’ve decided it’s easier to stay with one company. I initially got all excited because an online quote suggested I could save almost $100 a year on our policy, but when I actually called their line? Not so much.

    And of the three or four companies who promised to respond to my request for a quote? ZERO replies in a week. Huh. Not impressed.

    Once our car insurance rolls over in a few months, we should qualify for a no claims bonus for the first time (huzzah!) as well as our discount for having two policies with them  – something like a measly $20 off each. Insurance is one of those things that is a pain to pay for, but it’s worth it for peace of mind. We pay less than $1000 a year for both policies, which I can live with.

    In other news, we made a whopping $19 for T’s inherited coin collection (going straight to savings) and I got $50 phone credit for taking part in a research group after work one evening (not bad for less than an hour. It was really interesting to see how precisely they tried to hit a range of different ages, genders and races). That should cover my costs for two months; it’s true, Prepay customers are the least lucrative of all. Telecomms companies spend a fair bit on these sessions, but I guess it’s cheaper than taking a punt on a new initiative and bombing!

  • February 4, 2010

    January roundup

    Clothes and grooming: $12 of this was for a new bottle of face wash, and the rest got me two jackets and a pair of shoes! Bless you, Trademe (it seriously is the best place to score quality shoes in mint condition. As long as you know your size and stick to known brands). More below.

    Debt: Slowly knocking down T’s car loan, with nearly an extra $100 more than usual going towards it.

    Dining: Still way too many fast food purchases, mostly of T’s doing. (His penchant for Wendy’s is second to none). Includes just over $60 of reimbursable meals. With that taken into account, we’re spending just over $50 a week on eating out. And considering that’s our main entertainment spending, I don’t think it’s too bad – but again, I’m trying to go for QUALITY here, and we kind of failed this month. BUT, we did discover the gem that is Jai Jalaram Khaman on Sandringham Rd – affordable, tasty Indian food. Aside from that, we had Chinese on New Year’s, and again a couple of weeks ago, but nothing memorable.

    Entertainment: Snorkelling, our monthly Fatso subscription, and stuff associated with T’s weekend away this week (including buying a fishing rod. Slightly costly, but healthier than hanging out with our loser flatmates who have nothing in their lives except smoking and drinking, at least. Hey, I live with them, but I don’t have to like em!)

    Holidays: From New Year’s. T was meant to pay for this out of the money he made on New Year’s…only he STILL hasn’t been paid. Instead, I took it out of my travel/holiday fund. I’m about to book our Waiheke getaway package that I’ve been looking forward to for months before summer ends, so hoping that comes through ASAP! If not, we should be okay, as my side job is due to pay me before then anyway.

    Groceries: is really high, there’s no getting around it. I did cheat a bit and count our post-New Year’s picnic food as groceries rather than eating out, but still. Ideally this should be more like $500, or $550 max.

    Savings: doesn’t take into account approximately $300 towards LT savings, but mostly consists of my extra payment towards Kiwisaver (because I was a dumbass and messed up).

    Vehicle and transport: is lower than I thought. Just over $135 of that is for my bus passes! So our gas expenditure is pretty low. I did have a $50 petrol voucher which we used, however.

    Utilities: is a little higher than usual, because our quarterly water bill was due. I’m also continuing to classify our cellphone costs here, because that makes a hell of a lot more sense than under entertainment.

    You know what’s frustrating! As I’m going back through transactions, I ALWAYS find mistakes. Always. It’s way too easy to miscategorise something, and then that screws up my whole graph. I’ll get better at this…maybe.

    For February, getting back on an even keel after New Year’s, I really want to track everything by hand. It’ll give me a more realistic picture, and I’ll be able to decide if our categories are on the right track proportionally. Gotta watch the food spending, and aim to save $100 a week into the bills account (so we’re not scrambling come time to pay the car insurance). I doubt that will happen, but even if we can regularly do $80 or $90, that would be awesome.

    NEW WARDROBE PURCHASES

    Blazer: $5 plus $4 postage. Basically wanted to replace my brown military jacket, because the colour is horrendous on me – not to mention a couple of the buttons have gone AWOL.

    Shoes: $10 plus $6 shipping. Score! They’re real leather, are virtually pristine and would retail at Hannahs for $80-100. (Why are expensive shoes always so narrow?) Compare with my old flats, which are literally RAVAGED.

    Jacket: $15 (plus, I think, $6 for postage?) Am not thrilled about this. It’s real leather, and a great colour. BUT, the fit and sizing leaves something to be desired. Compare with the photo from the listing, on the bottom – we are obviously not quite the same size. It’s my fault for leaping at the bargain without checking the measurements.

  • January 27, 2010

    I’m still here…

    Busy weekend. Busy start back at work. Doesn’t mean I forgot about my January challenge – all four days worth! (I was kind of tempted not to post my sloppy weekend attire, but seeing as I went to the trouble of actually taking snaps… and yes, that’s also what I wore running on Sunday). Tuesday is coming…once I get around to hooking up my camera to the laptop.

    My main goal this week is to shop around for new contents insurance – AMI is raising our premium, and an online quote at a competitor suggests I could save a decent amount by switching, even without a multi-policy discount. I’ve put in requests for quotes from three or four places, but none have bothered to get back to me. (So much for ‘within two days’; don’t they WANT new business??)

    In other news, I decided I’d had enough of the box of junk that’s been hanging around for…four months now? Basically, T’s mum gave him some old silverware, coins and antique dolls (unfortunately in very poor condition) among other things, with the idea that he’d sell them and keep the profits as a birthday present. He drove around to a few dealers, bought some silver polish, and…never got any further.

    So I’m taking over *sigh*. We got a whopping $19 for all the old coins – mid 20th century British currency – and will probably tackle the silverware next. For the coins, I went to a specialised dealer, but I’m thinking with the silver spoons it might be better to get them appraised and then list them on TradeMe. Maybe. It’s really hard to figure out how much collectibles are worth – any tips?

    Saturday/Sunday/Monday:

  • January 23, 2010

    The money shuffle

    Since I created two new accounts (bills and travel) the dashboard on my internet banking is starting to look a little unwieldy.

    ASB
    Cheque
    Fastsaver (me)
    Fastsaver (T)
    Visa (plus a true rewards card, on which I accumulate points – it shows up as its own account)
    Bills account
    Travel account

    Raboplus
    Savings (high interest)

    Every Wednesday I make sure there’s enough in checking to cover rent and other autopayments which go out Thursday (I’m paid alternate Fridays, so this could possibly be streamlined when we move, and if our rent day changes. This used to work well enough when I got paid on Tuesdays). I work one paycheck ahead, so I pull 400 from savings into checking for the week, and sweep my full pay back into savings when it’s deposited – that then comes out later on to cover the next two weeks’ worth. It makes sense to me in my head, though it might not quite come across that way…

    I put a set amount into the bills account every week, and my travel account is funded solely by my side job. If that ended, well, I guess that fund would too (or at the very least, go on hold).

    I’m happy with how my system’s working, BUT I want to move the majority of my money to Rabo, as the interest rate is slightly higher (3.5% vs 3.15). I need to strike a balance, though – once I figure out how much I’m comfortable having tied up (no instant access) versus on-call in case of emergency, then I can make the transfer. I’m thinking $2000-3000 would be a suitable amount to keep on hand. All up, I currently have enough to cover three months of living expenses. Woohoo!

    Thoughts? How much would you want to keep easily accessible just in case? (Bear in mind I don’t keep a cushion in my cheque account).

  • January 21, 2010

    Easy-peasy yum cha savings with the click of a mouse

    Last year I went out for all-you-can-eat yum cha on my birthday at Ocean City restaurant – not the most impressive of places, but the restaurant was massive (very popular) and most importantly had TONS of food for laughable prices ($12.90, as I recall… I mean, is there anything better than an invitation to stuff yourself silly without worrying about the cost? I imagine it’s how Becky Bloomwood would feel if we let her loose in a mall with a black AmEx.)

    Sadly, I think it’s closed down now. However, Ming Court at Sky City also does a darn good yum cha buffet. There is fried rice, BBQ meat and kuay teow out on the tables, along with fruit and various little goodies like pastries and those supercalifragilistic egg tarts :D.

    The actual yum cha comes around in stacks of metal trays on trolleys, and is just westernised enough for my tastes: ie, no chicken feet or other scary animal parts. The selection did feel a little limited, but the buffet changes over to a dessert buffet which is also included in the price. Again, nothing icky like red bean soup, but cakes and other sweet goodies abound.

    The cost? $22.95 each, or $19.95 with a Sky City action card. A what? Yeah, I know.  It’s a big draw for those who actually go to gamble, but me, I just want the restaurant discounts! And you only need one card per transaction, which is a nice bonus. So take it from me – don’t write off the small print. Just google those mysterious rewards cards or you could be throwing away some easy savings.

    Thursday’s outfit:

  • January 21, 2010

    Some relief, please

    There are two finance stories that I’m following with one eye in the news.

    One, the deal that is allowing retailers to charge customers fees for paying by credit card. As if it’s not bad enough I can’t pay my utility bills by Visa without either giving them access to my card, or paying a nasty convenience fee.

    Don’t start on me with the arguments about how CC users have been subsidised by cash payers, and how the fees are totally warranted. I get it. I can’t even really disagree, except to bitch and moan about how it’s going to be darn near impossible to to rack up rewards points from now on if this carries on.

    I personally haven’t encountered any gas stations who are charging the extra fee, but surely it’s only a matter of time now that they have free rein. (And it’s REIN in this instance, people, not REIGN. Always gets my nerve up when the phrase is misused. Think horses, not monarchy.)

    Two, speculation about the official cash rate – will it go up, or hold steady? Apparently low inflation may convince the Reserve Bank to leave the rate as is. But you know what? I was at Lincoln Rd Pak n Save this week – probably the cheapest supermarket in Auckland – and milk was back up to height-of-the-recession prices. Psssh.

    Anyway, PLEASE hurry up and crank those rates right up. I need to start making some better interest on my savings accounts. Much appreciated.

    Wednesday’s outfit:


  • January 20, 2010

    When you assume, you make an ASS out of U and ME‏

    Don’t assume anything.

    I’d been waiting patiently for my Kiwisaver deductions to start so that I could see exactly how much I would be contributing, and so I could start watching my (and my employer, and the government’s) money grow.

    After two fortnights and still nothing, I emailed my provider to find out what was going on.

    Apparently new signups are still meant to fill out a KS2 form because although providers handle most of the legwork, they don’t deal directly with employers – they only inform the IRD. And I was told that it could be up to 3 MONTHS before the IRD, in turn, informed my employer to start making deductions.

    Imagine. I could have gone for three months without my deductions ever starting!

    (If you’re merely switching providers, that’s not a problem. They’ll take care of all the details.)

    So, I’m not out by much – just a couple of paychecks, or around $100. What I’m going to do is make a manual payment direct to the IRD once that’s all set up (hopefully I’ll get some sort of confirmation). I’ve been putting all my extra pay straight into savings, so that’s not a problem.

    Lessons to take away from this?

    One: Resist the urge to spend the extra. I transfer out $400 a week to live on and the rest stays in the bank. Period.

    Two: Never assume anything – there are no certainties!

  • January 14, 2010

    Checkout remorse

    Do you ever get to the checkout and decide against buying something because you’ve gone overbudget?

    It’s a little bit embarrassing to say “I might not take this” or “I might put that back”, and it’s not something we make a regular habit of. (I bet the checkout operators hate it too: it just creates more work for them when they have to put our unwanted items back on the shelves!)

    But I really couldn’t justify buying a cheesecake for more than $5, when it would have put us over budget and let’s face it, we don’t NEED cheesecake. Especially when I’m trying to expand my baking repertoire…

    Today’s outfit:

  • January 12, 2010

    Is mystery shopping worth the time?

    Last month I took one of my good friends out for dinner (tab: paid for by a mystery shopping assignment).

    “I wish I could do that for a full time job,” he remarked.

    I explained that it’s just not the kind of thing you can do fulltime: rather, it’s a great thing to do on the side. But is it worth the time put in?

    Now, I don’t track every dollar, but I went back to try and nail down roughly how much I’ve made through surveys.

    DECEMBER 169.22
    NOVEMBER 339.83
    OCTOBER 275.00
    SEPTEMBER 150.00
    SEPTEMBER 150.00
    AUGUST 0.00
    JULY 50.00
    JUNE 50.00
    MAY 150.00
    APRIL 92.00
    MARCH 118.50
    FEBRUARY 80.00
    JANUARY 197.00

    TOTAL = 1671.55 (Seriously, it took me something like five goes to add that up and get the same answer twice. I fail.)

    And as for how much I spent, I came up with a rough total of $468.50. At the most, I’d say a margin of error of $50.

    What did that get me? Prescriptions, food, alcohol, petrol and beauty products :). The actual money earned mostly went to irregular expenses or savings.

    I really couldn’t say how many hours a month on average I spend on surveys, but for over $1000 net for what is very much a spare-time gig, I think I’m definitely coming out ahead. This year, I want to keep a tight rein on this income – keeping a record of all purchases, and closely tracking payments and reimbursements every single month.

  • January 8, 2010

    Eeek!

    As great as this week was, it didn’t come cheap! We’re over a hundred dollars in the red, which means some tightening up for the rest of the month. (Didn’t help that we already went over during Christmas, thanks to a last minute present and work lunches for T). As a first step towards making up for it, I’ve cancelled two secret shopper assignments – both with no payment, just reimbursement for a purchase I really don’t need and would have to spend over the alloted amount for at least one of them.

    Let’s add up the damages:
    $90 plus on food alone (waiting for a couple charges to clear)
    $17 on mask and snorkel hire for me (we borrowed most of the gear from a friend)
    And we stopped in at the honey centre, where we bought a $3.95 jar (but wow, SO much fresher and cheaper than the supermarket stuff!)

    Plus of course the $153 hotel, plus $10 parking… and $123 on groceries.

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