January Finances – Quick Update

My finances for January 2017 is almost, even my cash account. No big unrecorded expenses in my income statement. Every single expense has been accounted for. How did I manage that? 

When I started with the cash account, there was N$1500 in it but N$7 of actual cash left in my wallet. I started with the receipts I kept in my wallet whenever I pay for something in cash and I don’t record it on a smartphone app. After I recorded all of those I still had a lot of cash to make up, close to N$900.

I used a smartphone app for like a week to record my cash expenses. There was something like 8 transactions but it only accounted for about another N$200.

Finally I remembered the two big cash expenses that I didn’t record, which was a N$200 donation to the church and N$400 spent on accommodation when the wife and I went camping after new years. 

There’s only a couple more transactions that I have to record like the N$200 cash I withdrew the day before yesterday, which I find take into consideration when I was reconciling. 

Last night I figured out how I should record prepayments and accruals. I get my paycheck the 25th but I’m actually supposed to get it the 1st day of each month because of use the month I get from my paycheck to pay for the expenses in the following month. 

When I do receive my paycheck, I record as normal, but at the end of each month I will debit Income: Salary and credit Prepaid Income and the first day of the next month I will reverse that transaction. 

I know there is still a week to go in January but I can’t wait to share my income statement and prepare my budget for February because GNUCash provides very nice reports. It’s a proper accounting system. 

Until next time. Thanks for reading. 

Big Financial Setback

Ten Dollar bill torn in half fixed with a bandaid.

Financial Setback

Friday morning my wife was in tears. I just got a text from her stating that she got her paycheck and it’s significantly lower than it was last month. This came as a huge surprise to me and her but we had a feeling that it could happen.


New Financial Journey – She said yes.

Starting a blog is harder than I initially thought it would be. There is just so much that goes into running a blog. There isn’t enough time in the day to make posts that I think people will take the time to write.

My personal finance blog failed miserably. Most of the personal finance blogs I read were so cool and interesting. It had all sorts of graphs and charts and I wanted to mimic that but I never had the time and patience to do it. Too many grand ideas that were never executed.

My personal finance journey wasn’t that bad though. I didn’t need all the apps. I didn’t need the spreadsheets. I didn’t need most of things. All I needed was a budget. That’s it. Most months I didn’t even write down my budget because it was the same every month. I paid my rent and my debt first. What money that was left was reserved for food and entertainment.

Now I am back to studying and my place got broken into a couple of weeks back. Now there are expenses that I never planned for. I didn’t have insurance or an emergency fund. I am also engaged for 11 days now and the wedding will be in December (if it stays that way).

Now another journey is about to start. Things was much too easy for me the past 3-4 months. Life handed me some serious lemons.



Pretty good day

Happy Minion

I know in my last post I said that I would make a half yearly update next but I’ve had such a pretty good day today that I wanted to share it with my readers.

I recently quit my job and accepted a new offer from another company. The new company has new owners and it’s financial department was outsourced to another country. Now that the new owners took over, they decided to have the financial function here. That’s where I come in. I am part of a new five man financial department. I am at the bottom of that food chain but plan to work myself up if I enjoy working for the company. The pay is very good but the offices look a bit dark and dingy. The offices are located inside the warehouse and the warehouse is in an industrial area.

Here comes the good part. I don’t own a car and public transport sucks here in Africa (first I revealed I’m in the Southern Hemisphere, now I revealed the continent. Stick around for more clues). The best means of transport is taking a cab. I use to drive with my girlfriend to work in the mornings so I spent about $250 (+/- US$25) per month on transport. Now that I don’t travel with her anymore I could spend up to $600 per month. But my mom managed to make a few calls and she found me a cab driver willing to pick me up at work and at home for $400 per month.

More good news. The ex-employers are paying out my leave days I haven’t taken. That amounted to $1125. That’s money I never expected I would get. I totally forgot about it and I never thought it would be so much. That would definitely help me this month since my transport costs would be going up.

And the last piece of good news. My dad sent me $2000 for a new phone. I recently dropped my Nokia Lumia 620 and the screen cracked. The touch screen didn’t respond any more. Now I am operating with an old Blackberry Curve 9300. But now that I got this cash from my dad I can get a new phone. I was looking at the Samsung Galaxy Fame. It’s in my price range and it is an Android. After my experiences with a Windows phone, I swore to never go back to that crappy operating system. A friend of mine is in Beijing for a couple of weeks, so I hope he might see something cheap there and bring a phone along. Maybe a Samsung Galaxy S3 Mini. But least’s wait and see.

Wait there is more good news. Training only starts on Friday. I thought I was going to start Thursday, but I only start on Friday. That’s an extra day off. Which will give me time to work on the half yearly review.

Until next time. Thanks for reading.