New Posts New Posts RSS Feed - Budgeting tips please
  FAQ FAQ  Forum Search   Events   Register Register  Login Login


Forum LockedBudgeting tips please

 Post Reply Post Reply Page  123 4>
Author
myfullhouse View Drop Down
Senior Member
Senior Member
Avatar

Joined: 29 July 2007
Location: West Auckland
Points: 2944
Post Options Post Options   Thanks (0) Thanks(0)   Quote myfullhouse Quote  Post ReplyReply Direct Link To This Post Topic: Budgeting tips please
    Posted: 15 September 2010 at 2:59pm
Ok I have been thinking about this for a while and then seeing Sez25's thread I thought it was time to start a thread.
We are doing OK at the moment but there really isn't any spare. I work a few hours from home but really we live off DH's salary. I have been following Babe's blog and I alreay shopped monthly to try and reduce the bill. I have been trying to reduce other bills too.

But I need some advice/tips on budgeting. How do you keep track of your budget? Do you spreadsheet? Use a computer programme? Put $$ in envelopes?How do you make sure you stick to it?
Lindsey


Back to Top
Sponsored Links


Back to Top
kebakat View Drop Down
Senior Member
Senior Member


Joined: 01 January 1900
Location: Palmy North
Points: 10980
Post Options Post Options   Thanks (0) Thanks(0)   Quote kebakat Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 3:18pm
I use a spreadsheet..

It has all our bills on it and the exact amount of them where I can (like for insurance) and an approx amount (like for power) and whether its monthly/fornightly etc. Then have another column that has how much I need to put away per fortnight to cover them all. If its a monthly bill I divide the amount by 2 so then I will always have just a bit extra in that account. I also have a couple that get paid via credit card and I note that so I know how much MUST go on the credit card each month.

We use bnz total money meaning we can have up to 10 accounts. Our "expenses" account has all our bills coming out of it. We have sanity money accounts for each of us. We have a general acc which is for house stuff and random bills that show up. And 2 savings accounts, christmas acc, road user charges acc (I have a 4wd).

Whatever money was left over I divded up between the acc's and put automatic payments on it so that it all gets done on payday.

I've set my spreadsheet up so that if a bill changes (like say phone goes up) then it automatically adjusts the figures for me and then I just have to go in and adjust the payments.

We have a tough sh*t policy, if you want something and you don't have the money in the acc, tough sh*t.

We changed our eftpos cards so that cheque became our sanity money acc, savings became our general acc and credit was credit.

It works well for us. I have a budgeted amount for groceries per fortnight which gets done on credit card. If we wanna get takeaways we have to spend less that fortnight to afford it unless we wanna pay for it out of our sanity money
Back to Top
jazzy View Drop Down
Senior Member
Senior Member
Avatar

Joined: 16 January 2009
Points: 8858
Post Options Post Options   Thanks (0) Thanks(0)   Quote jazzy Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 3:58pm
What do people prefer, paying fortnightly an amount on bills, like power, phone etc or putting money away to pay when bill comes in.
Back to Top
kebakat View Drop Down
Senior Member
Senior Member


Joined: 01 January 1900
Location: Palmy North
Points: 10980
Post Options Post Options   Thanks (0) Thanks(0)   Quote kebakat Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 4:05pm
I put it away, that way its earning us interest sitting in our account rather than in the billers account and it makes a difference for us on the interest that we earn monthly over our accounts.
Back to Top
IVFGirl1111 View Drop Down
Senior Member
Senior Member
Avatar

Joined: 01 January 1900
Location: New Zealand
Points: 2162
Post Options Post Options   Thanks (0) Thanks(0)   Quote IVFGirl1111 Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 4:19pm
With your sanity money - do you both have eftpos cards or do you get it out in cash type thing?

And can someone please give me the link to Babe's blog?

I REALLY need to tighten up on our budget - or lack of at the moment!

Edited by Booboo
TTC 6 years
IVF it is
IVF/ICSI round one
10 eggs, 8 mature, 3 fertilised BFN
IVF/ICSI #2 = 22 eggs!
20 mature, 15 fertilised, 1 fresh transfer and 2 frosties
BFN
2 Frosties still in freezer thank god
Back to Top
kebakat View Drop Down
Senior Member
Senior Member


Joined: 01 January 1900
Location: Palmy North
Points: 10980
Post Options Post Options   Thanks (0) Thanks(0)   Quote kebakat Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 4:38pm
http://simplehomekeeping.blogspot.com

With our sanity money its in a seperate acc on our eftpos cards. We can have up to 10 accounts so its up to us to control our own sanity money accounts.
Back to Top
caliandjack View Drop Down
Senior Member
Senior Member
Avatar

Joined: 10 March 2007
Location: West Auckland
Points: 12487
Post Options Post Options   Thanks (0) Thanks(0)   Quote caliandjack Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 4:41pm
We use easy pay for our power so its a fixed amount each fortnight coming out after DH's pay goes in.
We also set up our rates to be paid the same way by direct debit each fortnight.

Phone bill is pretty much the same each month as we don't make many toll calls, and I set Dh up as my best friend on vodafone so I don't pay anything to call him outside peak call times.

Our biggest flexible expense is our grocery bill. I've found doing more baking and cooking stuff from scratch has saved me heaps.

[/url]

Angel June 2012
Back to Top
amme_eilyk View Drop Down
Senior Member
Senior Member
Avatar

Joined: 30 September 2009
Location: Feilding
Points: 978
Post Options Post Options   Thanks (0) Thanks(0)   Quote amme_eilyk Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 5:40pm
how do you decide how much sanity money to have. I always feel guilty about allowing for it instead of saving it, but then I tend to splurge instead.
Back to Top
jazzy View Drop Down
Senior Member
Senior Member
Avatar

Joined: 16 January 2009
Points: 8858
Post Options Post Options   Thanks (0) Thanks(0)   Quote jazzy Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 5:44pm
We don't do sanity money.

I pay most bills fortnightly & keep most in credit.

Our biggest expense would be food & we don't always stick to budget on that. So I want to plan meals & stick to it & use up what we have. Do more baking & keep the crap out.
Back to Top
myfullhouse View Drop Down
Senior Member
Senior Member
Avatar

Joined: 29 July 2007
Location: West Auckland
Points: 2944
Post Options Post Options   Thanks (0) Thanks(0)   Quote myfullhouse Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 6:26pm
OK maybe I need to change my spreadsheet as it is done retrospectively.

I pay alot of our bills at the beginning of the month a few days after DH is paid. I pay our land rates weekly as it is easier than getting a big quarterly bill and I am less inclined to dip into the savings. I might look at averaging our power bill and paying the same each month once summer comes and our bill goes down.

I like the 10 bank accounts idea but as we have some of the mortgage on revolving credit it probably wouldn't work. But I may be able to use the 3 accounts we do have

I set a budget for all our birthday and mothers/fathers day presents as we have heaps - in May alone we have 3 Mothers Day (incl me! ) and 3 birthday presents to buy. I divided it evenly and have put away money each month

Might have to employ the "Tough s*it" rule!"
Lindsey


Back to Top
HoneybunsMa View Drop Down
Senior Member
Senior Member
Avatar

Joined: 01 February 2009
Location: NZ
Points: 1724
Post Options Post Options   Thanks (0) Thanks(0)   Quote HoneybunsMa Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 6:43pm
Linzy If you've been with the same power company for awhile they'll be able to put you onto the average account where you pay the average each month for the year. Otherwise I would just make a set amount each month say $100 each month and you'll go into balance over summer. Do you get the vector pay out? (can't think of what its called) Do you automatically put that on the power bill?


Back to Top
Shine View Drop Down
Newbie
Newbie


Joined: 07 September 2010
Points: 18
Post Options Post Options   Thanks (0) Thanks(0)   Quote Shine Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 6:53pm
We also use the tough sh*t rule for things that we want but do not need.

If we want something then we make sure that all the bills are paid that month and that we are happy to take that money out of the savings account (if it is a big amount)
Back to Top
kebakat View Drop Down
Senior Member
Senior Member


Joined: 01 January 1900
Location: Palmy North
Points: 10980
Post Options Post Options   Thanks (0) Thanks(0)   Quote kebakat Quote  Post ReplyReply Direct Link To This Post Posted: 15 September 2010 at 6:58pm
Im too lazy to work retrospectively. I like that everything is now automatic and I don't have to worry about it. For rates I set aside a bit every pay for that so it sits in our bills acc earning interest until the bill arrives so I don't have to find the money for that now either.

Linzy - thats why I have a christmas acc, to pay for all presents so we don't have to look for the money. Just a little each pay into it, we don't notice it but come xmas time we don't have to go looking for money to buy presents.
Back to Top
IVFGirl1111 View Drop Down
Senior Member
Senior Member
Avatar

Joined: 01 January 1900
Location: New Zealand
Points: 2162
Post Options Post Options   Thanks (0) Thanks(0)   Quote IVFGirl1111 Quote  Post ReplyReply Direct Link To This Post Posted: 16 September 2010 at 10:57am
Cool - so Stace you and DH both have a eftpos card each?
TTC 6 years
IVF it is
IVF/ICSI round one
10 eggs, 8 mature, 3 fertilised BFN
IVF/ICSI #2 = 22 eggs!
20 mature, 15 fertilised, 1 fresh transfer and 2 frosties
BFN
2 Frosties still in freezer thank god
Back to Top
kebakat View Drop Down
Senior Member
Senior Member


Joined: 01 January 1900
Location: Palmy North
Points: 10980
Post Options Post Options   Thanks (0) Thanks(0)   Quote kebakat Quote  Post ReplyReply Direct Link To This Post Posted: 16 September 2010 at 11:44am
Yup. DH has a eftpos and credit, I just have my credit card which I've had set up so that I don't need an eftpos card. But our cards don't have access to the bulk of our money, certainly not our savings. I don't like having to get cash out so thats why we have our own accounts for sanity money and have set them up on our card.
Back to Top
jazzy View Drop Down
Senior Member
Senior Member
Avatar

Joined: 16 January 2009
Points: 8858
Post Options Post Options   Thanks (0) Thanks(0)   Quote jazzy Quote  Post ReplyReply Direct Link To This Post Posted: 16 September 2010 at 12:23pm
Originally posted by HoneybunsMa HoneybunsMa wrote:

Do you get the vector pay out? (can't think of what its called) Do you automatically put that on the power bill?


I don't think Vector is out west. But it is due out in a few weeks as it was Sept last yr we got it & not sure how much it is for this yr as it did not say on the letter but that is a nice little payout
Back to Top
T_Rex View Drop Down
Senior Member
Senior Member
Avatar

Joined: 07 March 2007
Location: PN
Points: 2896
Post Options Post Options   Thanks (0) Thanks(0)   Quote T_Rex Quote  Post ReplyReply Direct Link To This Post Posted: 16 September 2010 at 12:41pm
Lol, tough luck rule applies here too. Works well. Our house and our degrees are the only things we've ever bought on credit.

We do use our credit cards for most purchases but then pay them off in full each month so we never pay interest.

We don't have sanity money as such, but we do budget for a few items that are mostly just for fun. Like chook food for my vast collection of chooks . Anyone in Palmy want to trade fruit/veges from their garden for free-range eggs? I'm getting about a dozen a day atm!
Back to Top
popcorn View Drop Down
Senior Member
Senior Member
Avatar

Joined: 31 October 2007
Location: Auckland
Points: 2164
Post Options Post Options   Thanks (0) Thanks(0)   Quote popcorn Quote  Post ReplyReply Direct Link To This Post Posted: 16 September 2010 at 4:07pm
wow thats some impressive chickens!
wish I lived in Palmy! ha!

What sorts of things do you eat for breakfast/lunch/dinner/snacks?

I think thats where we majorly fall down
Back to Top
myfullhouse View Drop Down
Senior Member
Senior Member
Avatar

Joined: 29 July 2007
Location: West Auckland
Points: 2944
Post Options Post Options   Thanks (0) Thanks(0)   Quote myfullhouse Quote  Post ReplyReply Direct Link To This Post Posted: 16 September 2010 at 9:20pm
Elle we are with Mercury Energy. They actually reviewed our power plan recently, changed it and gave us a $100 credit! All I am going to do is work out our average bill over the last year and pay that amount, well once it goes down in summer, at the moment we are paying close on $300/mth

OK so I have set up my spreadsheet and will utilise our 3 accounts, I have even worked out how much I need to put away each month for kindy, PC and swimming fees. Will start next month.

Originally posted by popcorn popcorn wrote:

What sorts of things do you eat for breakfast/lunch/dinner/snacks?
I think thats where we majorly fall down

Breakfast - weetbix for all of us, sometimes fruit too
Dinners - I meal plan for the month although I don't allocate a meal for each day, just enough meals for the month e.g. 4 sausage meals, 4 lasagnes etc. I have stopped buying things just cos they are on special and now don't have things sitting in the pantry for ages
DH's lunches - baking (muesli slice and cookies/muffin/cake), ham and cheese sandwich, 3 pieces of fruit (down from 7!!), a picnic pie or pieburger
Jack and Ben - sandwiches, fruit, baking (muesli bars, cookies), pikelets, dried fruit, luncheon, yoghurt, crackers
Me - baking (muesli slice and cookies/muffin/cake), sandwich

I enjoy baking, like knowing what we eat and I think it is a bit cheaper than store bought biscuits etc.
I don't buy any soft drinks or juice - I drinks buckets of tea and DH and the boys have water - this is a big saving.
I stopped buying packets of things e.g. small bags of chips/crackers etc, they are really expensive.
I buy from the local butcher, he is more expensive than supermarket specials but I don't end up with have my mince containing fat and water. I cut our portion sizes down to about 300g meat per meal, cheaper and you don't actually need to eat much. Baked Beans or grated veges are great for bulking out mince dishes plus you can hide veges from the boys and DH!

Edited by Linzy
Lindsey


Back to Top
lilfatty View Drop Down
Senior Member
Senior Member
Avatar

Joined: 22 August 2007
Location: Waitakere
Points: 9799
Post Options Post Options   Thanks (0) Thanks(0)   Quote lilfatty Quote  Post ReplyReply Direct Link To This Post Posted: 17 September 2010 at 12:01pm
$300.00 for power .. that would be a cheap month at our place!
Mummy to Issy (3) and Elias (18 months)

I did it .. 41 kgs gone! From flab to fab in under a year LFs weight blog
Back to Top
 Post Reply Post Reply Page  123 4>

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.05
Copyright ©2001-2022 Web Wiz Ltd.

This page was generated in 0.781 seconds.