sarahrachel
New member
I'm 31 and on 81K a year. I've doubled my income over the last 3 year period. I'm not very clued on when it comes to anything financial. I made heaps of mistakes taking out loans and credit cards when I was younger and I'm just starting to get things under control now.
I've had a few defaults, with my last one due to come off my history upcoming August.
My partner and I want to buy our first home within a year. Just seeking some financial advice - anything to get the ball rolling.
Weekly income after tax: $1050
Debts:
Gem Visa - $2700,
Student loan - $17k,
Car - $6.5k (my grandma bought me this and I pay her interest free),
Overdraft - $2k
Outgoings:
Gym - $18 p/w,
Car insurance - $19 p/w,
Dog insurance - $10 p/w,
Car - $50 p/w,
Rent - $175 p/w
Kiwisaver - $30000k,
Savings - $1500
One thing I should note is I have a ute now with my job. I only need to pay for diesel for personal use. My little demio is sitting on my driveway. Not sure what to do with it. 2008 really tidy with 60k on it. Wondering if I should sell it.
Cheers
Edit: Thanks heaps for the input and the hard truths. Absolutely taking it on board.
Just a bit of info:
I did save about $11k this year. I spent $5k on a dental bridge and a few fillings. $3k to go overseas to visit my family (this was non negotiable I had not seen them since I was 21). $1.5k to pay off the remainder of a previous vehicle loan.
Up until 3 years ago I was in and out of study, and low wage jobs. I only had money for bare essentials, so my savings were horrible. I was also battling an ED. Which once I finally went into treatment for, when I came out I was able to focus on a career and mental health which started to make things better for myself financially.
House price: My partners parents are giving some land for us to build on as part of his inheritance. Which is why maybe the 1 year time frame seemed a bit short.
Again thank you all so much, I'm gonna get my little A into G and start pinching every penny.
I've had a few defaults, with my last one due to come off my history upcoming August.
My partner and I want to buy our first home within a year. Just seeking some financial advice - anything to get the ball rolling.
Weekly income after tax: $1050
Debts:
Gem Visa - $2700,
Student loan - $17k,
Car - $6.5k (my grandma bought me this and I pay her interest free),
Overdraft - $2k
Outgoings:
Gym - $18 p/w,
Car insurance - $19 p/w,
Dog insurance - $10 p/w,
Car - $50 p/w,
Rent - $175 p/w
Kiwisaver - $30000k,
Savings - $1500
One thing I should note is I have a ute now with my job. I only need to pay for diesel for personal use. My little demio is sitting on my driveway. Not sure what to do with it. 2008 really tidy with 60k on it. Wondering if I should sell it.
Cheers
Edit: Thanks heaps for the input and the hard truths. Absolutely taking it on board.
Just a bit of info:
I did save about $11k this year. I spent $5k on a dental bridge and a few fillings. $3k to go overseas to visit my family (this was non negotiable I had not seen them since I was 21). $1.5k to pay off the remainder of a previous vehicle loan.
Up until 3 years ago I was in and out of study, and low wage jobs. I only had money for bare essentials, so my savings were horrible. I was also battling an ED. Which once I finally went into treatment for, when I came out I was able to focus on a career and mental health which started to make things better for myself financially.
House price: My partners parents are giving some land for us to build on as part of his inheritance. Which is why maybe the 1 year time frame seemed a bit short.
Again thank you all so much, I'm gonna get my little A into G and start pinching every penny.