The interest rates have gone up again. This would be the sixth increase since I took out my home loan in August 2009. When I first started paying it off, it was already limiting my savings and now it’s beginning to feel very stifling. The difference from the first month’s repayment and next month’s is about a couple of hundred dollars.

This may not seem like much but added up over a year that’s over $2000 – that’s a nice holiday that I have been enjoying every year since I’ve started working or a nice beefy laptop to replace my aging desktop. And it also means that if a rainy day ever comes, it better not rain for too long because my savings now won’t last me very long.

I’m already very stingy with myself but every little sum piles on. There’s things like the cost of my car and medical insurance, public transport, car registration and fuel, daily lunches and phone bill. There’s also the costs associated with being a property owner like the council and water rates – on a piece of land that I don’t live on no less.

And then there’s going out which is something I’m not willing to cut back on because I don’t spend that much as it is, and with my high pressure job, I need it to decompress. Which is just as well that I’m not dating anyone because I really don’t know how I’d cope. And even if I was dating someone, they would probably not be impressed with how stingy I am, right? Hah!

I have thought about selling the land but an empty plot of land won’t appreciate as much as one with a house on top of it. Then again, even if there was a house on it, now would not be the best time to sell because the housing bubble have started to correct itself.

Although I might have to seriously consider it if interest rates go up again and by how much – there might be two more increases this year, in August and in November.

Because I really hate this feeling of having little to no buffer in my finances and not being able to save for contingencies, much less to spend on nice things for myself. Until then, my only luxury and indulgence is going out with my friends. You guys better make it worthwhile for me. Hahah!