ShanShan's Diary - Debt Free Gonna-be!

ShanShan_2

Hello everyone!

It's ShanShan here, short time lurker, long time Debt Free Wannabe. I love reading everyone's diaries so I thought I'd make one of my own. My friends and work colleagues are sick of hearing my financial rambling so it should be fun to tell someone who actually cares.

Here's my current life/financial situation:

I am 19 years old, currently living with my parents (somewhat out of necessity but mostly due to wanting to save to buy rather than 'waste' money renting). I work full time in retail.

I've recently bought (ordered) a brand new car - it's due for delivery some time during the last week of November. I had originally saved the full amount to purchase it but then decided to finance half of it rather than put my whole life savings into a car. So I've got a 10k loan. I'm selling my current car for $3k and since ordering the new car have saved a further $1k for it, so that brings my loan to around the $6k mark. I am hoping to pay this off by the end of 2014. I will post more about the loan when I actually receive the car and start paying it off.

I'm also trying to save for a house deposit. I have $10k saved towards that already (the money that was originally going to pay for the car). I would like to save at least another 6k towards a house deposit by the end of the year.

Oh and I am from Australia, in case you're wondering!

That's all for now guys. Wish me luck!

ShanShan_2

Hello again!

Just wanted to drop by and mention that the manufacturing of my car has been delayed, which absolutely freaking sucks . So I won't be getting the car for at least a couple of weeks now.

Oh well, it's not all bad I suppose. Because the car has taken longer than expected, I have been able to earn bonus interest on my savings account for this month (you lose the bonus interest if you make a withdrawal). That's an extra $60 bucks in my pocket for the month so I can't complain about that.

I've been selling my old text books on eBay and so far I have made $200 and I should make at least another $200 by the time I've sold them all (assuming they sell of course).

I've been considering upgrading to the iPhone 5s as my current contract is up. I originally decided I would wait until my current iPhone 4s died before I would get a new one but I keep seeing advertisements for the 5s. The 5s would only cost me an extra $2.50 a week so I am seriously considering it. I will see how long I can hold off I suppose.

That's all for today. I will be sure to post an update as soon as something interesting happens.

ShanShan_2

Good morning everyone! Is anybody reading this? If you are please say hello

Well I am still waiting on the car which is boring. I'm not sure when I'm ever going to get the bloody thing. My banker is nagging me as obviously he would like the loan to go through asap so that he gets his money.

I feel absolutely exhausted and my work day hasn't even started yet. We have a new manager at work who is stirring things up a bit and upsetting a few people. Although none of it is affecting me yet it's still a bit stressful because everyone is complaining about it to me (I can't do anything about it!) and I am wondering what he will do next.

Anyway, that's it for now I suppose. I am off to get ready for work.

Doodles1971

Hi just read your posts so far well done on your savings. Keep going

ShanShan_2

Good morning! Happy Friday everyone!

I got a call from my car salesman today and he says that my car will be ready and I can go and pick it up next Saturday. I do have to work that day at 12pm that day so if I can't get someone to swap shifts with me I will just have to race down in the morning and get it and then speed back in time for work. Oh well, either way it should work out okay. I am very excited.

Well it's Friday today and I have the weekend off so I am very pleased about that. Tomorrow I am going Christmas shopping with my friend from work. It's a 2hr drive down and back to the nearest place that has decent shopping malls so it will cost me a fortune in petrol. I've been saving up so my money for Christmas shopping is sorted.

That's all for now, I'm off to get ready for work and then go to work.

Netwizard

g'day mate :beer:

I was about to wonder what you were doing in the debt free wannabe forum when your buying a brand new car :eek:

However, it sounds like you have your head well screwed on (Your living somewhere much nicer and much warmer than me so you must have your head screwed on!) :T

What car are you having? I'm a big petrol head. Like my Holdens (Monaro!).

On the savings front, it sounds like you don't need much help with that and have a nice balance between enjoying life and rewarding yourself, whilst keeping a bit of $$ back for a rainy day, so fair play to you

spudsofa

Hi Shan....why iphone 5s ? Stick with the 4s and get the iphone 6 when it comes out. Go sim only and save the money.....because once you move out, you will be responible for ALL the bills. Trust me and it is a lot!

You seem to have a pretty steady head, but I would advise you to save up much more before buying a house/flat. At 19 you are still very young and all to look forward in the future like BFs/marriage. Don't party hard because it left me with £30k debt before I started to tackle it.

W

ShanShan_2

Netwizard wrote: »

g'day mate :beer:

I was about to wonder what you were doing in the debt free wannabe forum when your buying a brand new car :eek:

However, it sounds like you have your head well screwed on (Your living somewhere much nicer and much warmer than me so you must have your head screwed on!) :T

What car are you having? I'm a big petrol head. Like my Holdens (Monaro!).

On the savings front, it sounds like you don't need much help with that and have a nice balance between enjoying life and rewarding yourself, whilst keeping a bit of $$ back for a rainy day, so fair play to you

Yeah, I know it's a bit weird for me to be in the DFW forum as I am in a pretty good financial position but I am more aiming to become debt free and stay debt free (with the exception of a mortgage on a house one day) and I think the DFW section is a good area for me because it focuses on the areas that I want to focus on.

Also I'm glad you like Holdens because I am getting a Holden Cruze.

spudsofa wrote: »

Hi Shan....why iphone 5s ? Stick with the 4s and get the iphone 6 when it comes out. Go sim only and save the money.....because once you move out, you will be responible for ALL the bills. Trust me and it is a lot!

You seem to have a pretty steady head, but I would advise you to save up much more before buying a house/flat. At 19 you are still very young and all to look forward in the future like BFs/marriage. Don't party hard because it left me with £30k debt before I started to tackle it.

W

Not sure why the 5s, just feel like getting a new one, and I've found that the 'S' models tend to be better than the original ones. Don't really want to go sim only as I need to be with Telstra due to my location and they are a rip off either way.

I will definitely save up more, my goal is to have a $50k deposit at least. $6k is just my minimum goal for this year. I am in no real hurry to move out of my parents place for at least a few years. I had a few rough years with my mum when I was younger and now that our relationship is much better she doesn't mind having me around (I think she is making up for lost time) and I pay my own way so she is not bothered. The cost of housing where I live is absolutely ridiculous and almost totally impossible to live on a single wage, so at home I will stay for now.

Debt_Free_Guy

Wow you are organised! I always love to hear stories of people who have developed a savings habit. I understand what you mean about your car, however taking out any type of loan will cost you more in the long term, although I can understand why you wouldn't want to tie up all your cash into your car. Great job working towards your house deposit, I have no doubts that you'll save enough to get onto the property ladder.

Sorry to hear about the delay with your car. Hope it arrives soon!

ShanShan_2

Debt_Free_Guy wrote: »

Wow you are organised! I always love to hear stories of people who have developed a savings habit. I understand what you mean about your car, however taking out any type of loan will cost you more in the long term, although I can understand why you wouldn't want to tie up all your cash into your car. Great job working towards your house deposit, I have no doubts that you'll save enough to get onto the property ladder.

Sorry to hear about the delay with your car. Hope it arrives soon!

Thank you for you lovely compliments. So glad someone finally (somewhat) agrees with me about the car loan thing.

ShanShan_2

Well I had a good day today, went Christmas shopping with my friend. Didn't actually buy anyone anything for Christmas, I more so just investigated items and prices and now I will buy them online for cheaper. (Evil, I know).

I did however buy a heap of stuff for myself. I bought some pyjamas, nail polish, random toiletries and some stuff from The Body Shop for fun. I also bought an exercise bike. Yes that's right, I am going to start exercising! Wish me plenty of luck on that one.