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Hey Everyone!

Welcome to February’s update! This month was quite fun ?, We had some success moving forward with our kitchen, made over $200 by selling what others couldn’t be bothered listing on facebook marketplace, and generally we had a good month together ?

Highlights

  • Picking up ‘Rubbish’ via Curbside Collection and making $240
  • Getting our new kitchen reno underway
  • Renewing car insurance

Total Net Wealth = $1,086,438

Start of the month – Curb side collection! We drove around for about 2 hours looking at what people were throwing out, and ended up with some pretty awesome stuff!

2 x Bronze lamps ?️ sold for $80
1 x Glass Coffee table  sold for $100
1 x Wooden bench ? sold for $60
Total = $240!

That’s not even all of it, we still have to sell:
1 x Working Popcorn machine
1 x Working studio light
2 x Working bedroom lamps
And a few really nice plant pots which….I think we might keep, win!

Car Insurance

February was unfortunately the month where our car insurance was due for renewal, so we decided to shop around and see what deals there were. We did a huge comparison. Everyone’s situation is going to be different so I won’t post any of the details as it’s pretty irrelevant, however…what we found really interesting was that for some providers, it was actually a little bit cheaper to change from ‘market value’ to ‘agreed value’ and max out the agreed figure. We were with Budget Direct, and ended up going with Allianz for an extra $10k of car insurance for about the same price, crazy good deal. If anyone knows where insurance companies get their ‘market value’ from, let me know, as our market value was $25k and the cheapest I could find, even second hand, was $30k, so I went from stressing about being out of pocket if someone hit us, to being comfortable with finding a replacement incase anything happened, which is what insurance SHOULD be, took afew hours or research to find it though, but time well spent, so shop around people!

Value Buying

Also… even though we shop around.. we aren’t looking for the cheapest insurance, we are looking for the best value insurance. Woolworths insurance came in pretty cheap, however after spending a few minutes reading reviews, and then not actually being able to even talk to a SALES agent, well that said it all.

The last thing I want to deal with in a time of stress, is being on hold. #notworthit!

Cheap vs Value is a common misconception that we run into a lot. For those that know me personally, you would know that I buy $1 coffees at EzyMart in the city. Now… I do love a great coffee and I’m not tasteless, I am completed aware that a $1 coffee is not as good as a $5 cafe coffee, however.. a $5 cafe coffee is not 5x better, so… the value just isn’t there for me.

Let’s talk more about the finances for the month

Up 0.88% this month for a new record of 1.086 million, yew! That’s cray. Still blows my mind we hit 7 figures.. I think what blows my mind about it is not the actual fact we hit 7 figures, but more the fact that we didn’t do anything special. No lotto win, no inheritance, no bitcoin jackpot, no… anything really. Just lots of work, saving, investing and time ⏳ Slow and steady guys!

We had nearly $17k come into our possession this month, and a decent chunk of that goes straight off to tax, followed by our mortgage repayments.

The biggest expenses this were out of the ordinary were car insurance at $768, home and reno of $1750 (Kitchen Reno plus more tools) and $320 towards our easter holiday coming up soon ✈️?

Nothing to major on the financial side this month, but Mrs MoneyPlant and I have been talking about the house renovations and we calculated a rough estimate of all the renovations being completed.. and then balked our eyes out.. so.. we’re revisiting where we can be cost effective, and where we can add value.

I keep reminding myself that spending money on renovations is less of an expense.. and more like a savings account that we’ll get back later, one day… still.. that’s money we’re not putting towards the mortgage and that’s quite new to us, so a slight adjustment in our outlook and behaviour, so far so good though!

House Update

Other then that, our builder installed a half-height wall for our kitchen reno and building in a new cupboard, exciting times!

Personal Note

I’ve started helping our neighbours a lot more recently and the sense of community is really starting to grow on me, it’s really nice to know that we could ask anything from them and they’d be there to help us as well. That being said, my heart does go out to all affected by the Flooding 🙁 I’ve heard some pretty heart breaking stories, so stay safe, stay dry and help a neighbour where you can.

“Slow and Steady” – Mr MoneyPlant

Till next time…

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