Wednesday 1 July 2015

Is money the route to all evil?

Although I feel like I have been very uninspired and
not achieved much lately I have started tackling
 a few of my items on my 'better life' to do list, though.

After looking at quite a few blogs about 
frugal living [largefamiliesonpurpose]
and getting out of debt [andthenwesaved] 
I went through all our financial information, 
income, living expenses and how much we owe. 
 I formulated a weekly, fortnightly, monthly
 and annual budget and a list of all the debts we have.

During my research and investigations I 
discovered that we have been living a minimum 
of $100.00 per week below the national poverty line.  
I knew we were doing it tough, so this 
should not have shocked me as much as it did.

 

Although I am quite envious of those in 
a secure and comfortable financial situation, 
I am very thankful that I live in a country
 that has such a generous welfare system.

Since I had my children I have struggled 
with major depression. I have only recently
 started to function on a almost normal level.  
Occasional cleaning work is the only income
 I have managed to acquire in the last 9 years.

My lovely Mr G has been studying full time
 for the last 2 years to become an enrolled
 nurse and he will qualify in less than 2 months!
  I am so proud of him.  
After running our cafe for 2 years and
 working in hospitality before that, it has been
 such a blessing to have him around so much.  
It has really strengthened our family.

As I said, we are very fortunate to be able
 to pay rent, power and food costs as well as keep
 our cars on the road with the income we receive
 from the government. 

My first step was to list all our debts both 
personal and from the cafe, also money that 
we owe to friends and family.


I recorded what our income is, then I went
 through all our bank statements from the last year
 to compile a list of our regular weekly expenses, 
monthly payments and annual costs.  
Being a spreadsheet lover I calculated the weekly,
 fortnightly, monthly and annual amounts for each of 
the categories.


Then I created individual weekly budgets to record
 our income and foreseeable expenses for the 
next 6 months.  And as each week passes I have been 
recording the actual amounts that have been 
spent to keep track, accountable and focused on reducing
 unnecessary spending.


With the lovely G on placement I have had 
to factor in the additional $100+ per week 
for petrol and parking costs.
  As if our budget wasn't tight enough! 
 But we have managed to scrape through, holding
 our breath sometimes, and unfortunately
 raiding the kids piggy banks (terrible parents, I know...) 
to survive.

Actually, confronting our financial demons has
 been unexpectedly cleansing.  Avoiding to
 acknowledge our economic situation in the past
 has created an unseen burden on my shoulders,
 it has weighed me down much more than I realised. 
 Although the reality of the situation we are in 
is far from ideal, staring it in the face, so to speak,
 has made it a lot less daunting.  
There is light at the end of the tunnel.


Having the real possibility of Mr G starting
 to earn an income in the next few months, 
I would like to stick to our current spending 
habits, with a few exceptions, and start to make
 a substantial dent in our debt.  
With the aim of being debt free within the next
 5 years as well as having some savings 
accruing we can finally stop living in 
survival mode from week to week! 

There is one thought that has been lurking in the back of my mind during this process of taking the first steps to becoming financially free.  I have been dreading the thought that our spending habits will change with our growing income and we will acquire more by stepping back onto the consumerist treadmill.  The thought terrifies me.  It cements in me that now is the time to imprint these frugal living habits into the deepest and truest parts of our being when it is not a choice, but a necessity, so when we have the means available to us we are not sucked into the materialistic cycle of acquisition that we are bombarded with at every turn.  Stuff will not make us happy.  We already have too much and it genuinely controls us.  Enough is enough and I will not be controlled by the media into thinking my life is incomplete without..."X" or that "Y" will make me happier.

After the basic needs of survival have been met, 
it is within ourselves and with the ones we love
 that true contentment and fulfillment can be found.

You know how when you get that excited tingle in your gut that something significant as about to happen?  A big change is on the horizon?  I wasn't intending to post something that turned out to be profound (to me anyway), hmmm... its funny how writing about a weekly budget can evolve...

Here's to scary first steps!!!





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