All in Budgeting
To my surprise, I’ve chalked up five years of writing this blog! And I can’t quite believe it. I thought I’d blog today about what I’ve learnt, observed and what it’s like to write a blog because there is not a single day that has gone by that I’ve not emailed or spoken with someone about what I tend to refer to with my whanau and friends as ‘blog stuff’.
Whatever it is that you are embarking on that’s always the best place to start in my opinion. The beginning. Then just follow the path, in my case, the path to financial independence and eventually not being tied to a job to earn my income. It’s a long journey but it’s one worth starting. I’m often writing emails that cover the same points over and over again, so I thought that today I’d put that information into a blog post for all of the people wondering where to start and how to string all the bits of information you have learned about money into a cohesive order.
It’s no secret that I’m a fan of budgeting in some way, shape or form and knowing where your money is coming from and going to honestly helps you get ahead faster. There is no doubt in my mind about this. And from time to time I give my budgets an overhaul and this week I made a cup of coffee and took about an hour to look over every corner of my budgets in PocketSmith. The prompt to do this was because PocketSmith have launched a brand spanking new Dashboard with heaps of new customisable features and once I started having a look around, I was like a kid in a candy store.
I’m having a muck around with one of two of our investments this week. A “re-balance” is the fancy terminology, but I’m taking the opportunity to make sure that we are sticking to our investment plan because I have a tendency to wander off track. Some people are super organised and set a date to do this once a year, I don’t, I’ve just become aware that ‘it’s time’.
As part of the Sorted Money Week, I recently asked you to send me your money-related questions, which of course you did. I’ve selected a bunch of them and given my thoughts on each, plus added in a few links and resources to round out the answers for you.
I realised recently that I rattle off financial terms, assuming that people know what they are. And that annoyed me a bit, because the reason I started blogging was to demystify financial jargon and yet, here I was, rattling off a bit of jargon! One of these terms is ‘sinking fund’. Today I thought I would quickly explain what a sinking fund is and why I use them myself.
Even though Level 2 had felt quite ‘normal’ here in Alexandra, going to Level 1 on the 9th of June did have me going “phew, we did it”. Collectively as a town, region and as a country, WE DID IT! That’s a pretty good feeling. Well done whanau of 5 million! But personally speaking, I don’t quite feel out of the woods yet. My thoughts are along the lines of “don’t relax too soon Ruth”. Therefore, I’m going to listen to my gut instinct and from a financial standpoint, I’m not done with being cautious just yet.
I got a message this week from Joe. He said that he is after some “relevant situational budgeting help” and would like to see me help out and offer thoughts on “the most basic of budgeting for the families in severe need now”. So I thought I would reach out to someone else to help me write the blog post this week, someone who I consider to be a bit of a Budgeting Queen herself. It’s none other than Bradie from @kiwigirlonabudget
So, together we have worked on this blog post for you this week.
I thought I’d keep a diary for this week, so you can see what we are doing to prepare for the months ahead in this rapidly evolving situation. Take from it what you will and discard the rest. But first and foremost when it comes to money at a time like this, whether your job is secure or you have just lost it, the absolute key thing to keep in mind is to: Always spend less than you earn
