The Most Expensive Year of Your Life

The most expensive year of your life

Research shows that age 31 is the most expensive year of your life. And it is coming up on me fast!   A British Credit checking firm, ClearScore, surveyed 3000 people and discovered that age 31 is the most expensive year in people’s life. They found that the average person will spend $81 955 that year. That means people will spend twice the average income. Statistics New Zealand shows that the …

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You Don’t Have to be Loyal to Your Bank

Banks

Living in today’s society, it is difficult not to be associated with a bank. Everyone I know has a bank account. Nearly 66% of the transaction in NZ are done electronically through banks and financial institutions. Most employers will require you to have a bank account.  Even if you were homeless and required support from the government means you will require a bank account (at least in New Zealand) Heck, …

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Learn How To Investing In The Share Market With Index funds

Investing

It’s a common thought that investing in the share market is reserved for rich people, who spend their weekend on yachts and drive nice cars. A lot of people think it is out of reach, and often too daunting to us regular car driving people. But, there is a way to invest in the share market that is available to most people, and it’s not as daunting as you might …

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What I Learned From my Parents Has Shaped my Life

What you can learn from your parents will help you throughout your life

When you grow up, you learn a lot from your parents.  There are things that they directly teach you, like tying your shoelaces. And there are things that you don’t even know they are teaching you. That’s what I think happened with finances. I was never directly taught by my parents about finance, but I now know that I learned so much from them just observing. So I thought I …

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Passive Income Report: April 2018

Passive Income report for NZ personal finance blog Passive Income NZ

There is no point in having a goal if you don’t measure whether or not you have achieved it. My current goal is to replace my income with passive income. I have decided to split my goal into smaller more manageable goals. The first small goal is to achieve a passive income of $25 per week. Once I have achieved this I will push for $50 per week, $75 per …

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4 Steps to Early Retirement Through Passive Income

the 4 steps to early retirement through passive income

The thought of early retirement for many people is an un-achievable construct. But if you are a millennial you have time on your side. See, early retirement isn’t hard in a certain sense. It isn’t like learning quantum mechanics, and trust me quantum mechanics is hard. I did several quantum mechanic papers at university, and I am still don’t fully grasp all the concepts. Early retirement is only hard as …

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Spending Report: April 2018

Monthly spending and investment report showing you how my portfolio is going and how it can help you on your journey to financial freedom

April has been a fast month for me. It seemed like it was over in a blink. April is always packed with birthdays, as nearly all my family was born in April. Along with daylight saving, and a few cold days, April has hinted that winter is coming for us in NZ.

This is the second spending report that I have posted. I post these in the hope that I actually use my spending data to improve the next months spending. The aim is to direct as much extra money as I can to invest in passive income streams for the future. Ultimately, allowing me to retire years earlier than the socially accepted retirement age of 65.

So here is April’s spending.

Again, our mortgage payments have been around 50%. This month we will have to negotiate with the bank to get a new fixed rate. Already I have asked around and currently, the Bank of New Zealand is offering 4.2% fixed for 2 years with a bonus retainer of $3000. I’m going to take that offer to my current bank to see if they can match it. I don’t want to change banks, but if the offers are better at the competition, we will have to change.

The Good

In March I opened a new account with InvestNow and deposited some money to buy some passive funds. It took me a while to decide what funds to buy, but I managed to read all the documentation and bought some funds in April. I have added another $400 to this account.

Groceries were down on March

We slashed $200 off our grocery bill was down for the month of March!

The Bad

Miscellaneous consumption

My spending has gone up for the month of April. This is because I bought a 3D printer, both for work prototyping and for making items for around the home. I have made several items for the garage. And printing items has been quite relaxing for me. I spend a chunk of that spending on consumables and upgrades for that printer.

Eating out has crept up

Since April is a month of birthdays, it is not unexpected that the dining out bill has more than tripled to $330. It is expensive, but sometimes you have to do it to strengthen your social network.

And the Ugly

Car expenses

Car expenses have gone down to in absolute terms, but in percentages, it is still up at around 12%. And I haven’t even travelling much recently. It is quite a large expense for just driving back and forth from work on my luxury sofa.

Overall, we had a loss this month of $330.89. We need to sort that out!

Goals for 2018

So I have decided to start some goals for the remainder of 2018. I am still formulating some other goals, but at this stage, I am going to aim to increase my investing this year. Over the month of April, I will look into some other goals. I am thinking about setting a monthly expenses goal but need to analyze past data to see what is actually achievable.  I don’t believe it is worthwhile setting an unachievable goal.

Increase investments by $12,000

My goal for 2018 is to increase my investments by $12,000. Since I started in March, that is around $1200 per month. In April I invested $1500, and this month I managed to invest $400. So I am currently 15% towards my goal.


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