And now the bad news

Well, with the good comes the bad. My financial tracking has clearly been down the tube this past month. I just worked out my money in/out for the month, and my net worth has fallen in real dollar terms. Here’s why:

  • I paid the venue deposit on behalf of the graduation committee I’m on, because we hadn’t sorted out the account access yet and the venue had to be paid to hold the date. One month later, we are finally getting account access – and my cheque will be sorted out today. Of course the $550 came out of my e-fund. I won’t make that mistake again. I always knew my money was coming back, because only I had the account statements showing the current balance and I was the oly one with alll the items needed to access the account. But it’s taken a long while to get the signatories changed and has cost me a little bit in interest too. Not good. Worse, it left me without the resources to fix up my other mistakes (see below).
  • We overspent on the party. I’ve alluded to this already, but it was worse than I thought. It was mainly due to miscommunication between my husband and I about how much he was paying for things he’d organised; and because I spent too much on alcohol we didn’t need or use. Drink, anyone? We’ll have a full fridge for a loooong time. But this can be good too, because we have a ready stock if we go to a dinner party, someone comes over unexpectedly, or we need a gift for someone.
  • I haven’t billed the university for more than 24 hours of work I’ve done for them over the past semester! And it’s nearly the end of the financial year. At $30/hour, what’s wrong with me? I have to get a form to someone and then get a password to log on to do it. I think I’ve been more focused on the car debt and not taking care of the bigger financial picture. Consequently, I have about $800 on my credit card that I’m now getting close to having to pay interest on. In my defence, the vast bulk of that is the money for our relative’s recent function. So it was a budgeted expense that was going to be paid by my work at the uni. I’ll rocket that pay claim in today too.

So what am I going to do? Well, I’ve put my usual $500 car payment towards the credit card instead, and when the cheque comes from the grad committee, I’ll put that towards the car loan. I’ll use the money from the uni to pay off the last of the credit card debt, and then worry about whether there’s ANY left for the emergency fund.

I guess this is a lesson to me. Money isn’t money until it is in your pocket. And, DON”T TOUCH YOUR EMERGENCY FUND UNLESS THERE’S AN EMERGENCY (Duh!).

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2 Comments »

  1. choke2509 said

    I never heard before for “Money isn’t money until it is in your pocket.” but I think so. Once I wait money tranfer from my friend that he borrow me. One week ago he didn’t give it back to me. How can I say “Money is money”. May be your sentense “Money isn’t money until it is in your pocket.” I shold say instead.

  2. Yup I agree…

    Money isn’t money unless you’ve got it in your tight little paws.

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