Angela's 2010 money challenge

**mopples** · 01-09-2010, 05:34 AM

The last 6 months has resulted in quite a change in my lift, in many ways. I got into University to study nursing and also ended up changing jobs, from being an EA for a financial planner, to working as a ward clerk at one of the big nearby hospitals. This change has also resulted in a paycut of $8,500.

As a result, the extra payments on my loan have been put on stand by! Hopefully ill be able to claim my uni fees on as a tax refund which will then be put onto my loan, if not, then it will take a little longer to pay off.

My debt payment goals for this year are:

Personal Loan:To consistantly pay $250-$270 per fortnight off my personal loan and get it under $20k.

Store Finance: Get the store finance under $300 balance.

Credit Card: I have learnt to use the cc as it should be, paying off what i use in reasonable time. I just aim to keep doing this has i have some big things this year and for the next few year, trips to Darwin for uni residential schools, text books etc.

These are not hard or life challanging goals, but simple things to keep me on track and tack unneeded stress out off my life whilst i am studying.

**miss_thrifty** · 01-09-2010, 10:26 AM

I know u can do this. You'll get through even with the paycut.

**NikoSan999** · 01-09-2010, 11:16 AM

Good luck with your goals. You'll get it done. Sounds like you have a good head on your shoulders. Post your progress.

**Debbie-cat** · 01-09-2010, 11:28 AM

Good luck! You have a reasonable plan and will be successful ! Keep us informed on how it's going.

**mopples** · 01-10-2010, 05:53 AM

Thank you

I just really need the motivation to stick to a budget. Im currently spending $15 per day on coffee and lunch which is quite a dent, so starting this week im making an effort to take lunch with me which will not only be cheaper, but healthier.

I just realised that by the end of July, i will have paid off the extra $5,000 (+ 2 years of interest) that i added to my personal loan 2 years ago when we went to europe. I had to take this out as i found out 8 weeks before leaving that work were going to make me take leave without pay - they had let me believe for 5 months that they would give me annual leave. As of July, I will be back where i was 2 years ago, but such is life!

The big paycut is definitely worth it. Im now employed by the public service so i get some other perks such as ADO's (allocated days off) and a 17% loading on top of my annual leave when i take it. There is also a lot less stress and I can just go home and switch off. We also get occasional overtime shifts which comes in handy, however the next lot are going to be in the lead up to my exams so i wont be able to take any.