So, the end of the 2019-20 financial year has come, and it's time for my half-yearly net worth update. Things are looking only slightly different compared to six months ago. The impact of the coronavirus pandemic on the share market has had a rather unpleasant impact on my superannuation balance; compared to where it was … Continue reading Net worth update June 2020
Well, this is it! My twelve months is up - achievement unlocked! This process I've followed of running a proper budget and tracking everything I spend has been a really interesting, if sometimes tedious, exercise. It's certainly brought sharply into focus those areas where I knew I was probably wasting quite a bit of money … Continue reading Savings rate challenge results – June 2020 and overall year
Eleven months down, one to go! Finally, as mentioned in April's savings rate challenge post, I hit one of my financial goals in early May - I now have 6 months' full pay saved in my emergency fund! Boy, it's nice to hit this one. It's interesting how achieving a goal like this significantly reduces … Continue reading Savings rate challenge results – May 2020
A change of heart ME Bank's CEO, Jamie McPhee, issued a statement on their website and on Facebook on 8 May 2020 to advise that anyone who has had their home loan redraw limit reduced can request that it be changed back, and has acknowledged that their actions were "poorly communicated". He has also stated … Continue reading “Despicable” ME? – an update
The dangers of the redraw facility So, who else got caught out by ME Bank's "amortisation error correction" late last month? No doubt many of you saw the recent media articles about an unannounced adjustment that ME Bank made to approximately 20,000 of their home loan customers' loan accounts, where money that had been available … Continue reading “Despicable” ME?