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I'm a newbie

July 21st, 2018 at 07:14 am

Hi, I'm new to this site and blogging in general. I have been reading some of the stories and blogs on here and I'm hoping to get some hints and tips and support along my journey.
We have no debt, and we are just starting to save for a house deposit..we need around $30,000 for a 3% deposit so that is our goal and I am hoping to achieve that in the next 18 months...we have accounts for seperate things which are as follows

daily account - for money to go into

splurge acct - "mad money" to spend on what we want

ice account - this is for emergencies (usually sits at 2000)

annual bills - this is for all our ins etc that come out yearly we put monthly amount away for these

house deposit - where we put our savings for our house

we always have bills paid on time and we live on a cash budget for petrol (gas) and groceries.

we have 1 CC but we only use for emergencies and owe nothing on it.

we currently have approx $900 in our house deposit acct

that is a general run down, hope i haven't forgotten to add anything

6 Responses to “I'm a newbie”

  1. LuckyRobin Says:
    1532208102

    Welcome. 3%? Or did you mean 30%?

  2. mumof2 Says:
    1532222092

    no that is 3% they have around $20000 or more in fees that you have to pay with the deposit so $30000 is 3% deposit (they minus the fees) thats why it is so hard to save for a deposit and their is no a lot of alternatives like they have in America...with the different loans and rents are really high here so paying rent and saving a deposit can be hard...but we are determined

  3. shiela Says:
    1532249044

    Welcome. I'm looking forward to read more of your story.

  4. rob62521 Says:
    1532287304

    Welcome to SA!

  5. Tabs Says:
    1532391502

    Hi, and welcome!

  6. mumof2 Says:
    1532402305

    Thankyou everyone who has welcomed me...I appreciate it...feels weird to sit down and write things out for strangers to read but I think I will get use to it.

    Had a medical expense we weren't expecting this week so our house savings went from $900 down to $133 but it is still something and it is a one off so although it will put us a little behind we will get there....its payday this week so will be nice to see it grow a little.

    our ice account is still at $2000 so haven't needed to use that and still no debt or needed to use the CC but my mom did break the inside of our door handle so need to get that fixed so hopefully won't be to much but it has all the electrics for the window so we will see

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