Sunday, 30 August 2015

The MoH financial fitness challenge … Day 0

The MoH financial fitness challenge … Day 0

As the MoH’s financial balance has grown, so has her waistline and hips.  Since 2010, I’ve gained around a kilo a year … at least … The reality really hit home when I was visiting my family last year and had a photo taken with my sisters.  My older sister, who has taken up distance running, looked a fraction of my size!

I thought the excess weight would shift when I had a holiday between jobs and got lots more exercise, but most of it steadfastly refused to budge.  The situation became dire this week, as busy nights at work tempted me to buy takeaway multiple times.  I’ve been too afraid to step on the scales lately, but I finally took the plunge this morning to confirm the exact damage.  I won’t publish the figures, but a change is clearly in order!  Basically, I need to lose six kilos to get back to my 2010 weight.

What does this have to do with financial fitness, you say?  Well, all this expenditure on takeaway is really cutting into my budget.  And when one thing slips, other bad habits start to creep in.  I wake up late and miss out on early bird parking, I get parking fines, I forget to use my prepaid car washes on time, I don’t speak to my broker frequently enough to optimise my portfolio …

So the challenge for September (and realistically the rest of the year) is to get things back in order, one day at a time.

This week, I will:

  • Get seven hours of exercise
  • Stick to a food budget of $50, including one takeaway
  • Arrive at work before 9am every day
  • Sort out my payment summary issues with my previous employer
  • Catch up on my August business accounting
  • Pay myself and transfer funds into my personal account before a big share purchase plan payment is deducted
  • Pay my super guarantee contribution for July and August early to try to capture lower unit prices

That’s probably enough to begin with.  I will post updates as I go … wish me luck!


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