2021 has been a great year so far, except for the 5 day snap lockdown in February. We have had plenty of nice warm weather for beach and parks. We have just got back from a 2 night anniversary (kid-free) holiday to Margaret River.
We do have some extra retail spending, we bought our first couch and dining table $-4,650. Not bad if averaged out, considering we have had a free second hand couch and dining table for the last 12 years!
1st Quarter Income/Expense:
Savings rate 30%
Home Loan Balance:
Amount paid down in Q1: $17,739
2 nights accommodation at Margaret River Beach Resort. Pre paid for 9 night accomodation in Kalbarri for August.
Grocery are still a bit higher then we will like but not totally out of control. Continued focus on trying minimise extra trips to shops will help as we are doing quiet well with meal planning for the bulk of the main shop per week.
Savings rate was 30% which was surprising considering the large purchase of couches and dining table. Hopefully, going forward we will have minimal retail expenses and can bump that savings rate up a little!
With low interest rate and extra payments, we continued paying down the mortgage by $17,739 this year. At this rate we will smash our target goal of $50,000 paid down for the year.
Even with the big couch and dining table purchases, we are going well towards our goals and the end of the home loan is in sight. It wasn’t that long ago that we were paying $900/month interest on the loan, now it is around $360/month!
We haven’t got much planned for the next quarter, the kids birthdays but apart from that we will just keep chipping away before a family holiday up to Kalbarri, Western Australia in August.
Next update, we will look at our Superannuation and update the home loan repayment timeline.