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  1. #11
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    I agree with others - there is nothing my budget does that you can't do yourself. My sister was going to see them recently but I sat with her instead, and for the first time ever she has $9k in savings since Feb! My advice - get a spreadsheet and write down all your expenses - include things like birthdays, Christmas, school fees, etc - really you should be able to account for every cent you spend. Maje sure you include some budget for your own persinal
    Average all costs over whatever your pay frequency is and then set up seperate bank accounts (ie: savings, social money, bills account, presents & annual expense account etc. have your pay modified so that the appropriate amount if your Kay goes directly into each account so you can't be tempted to touch it... Sometimes just by knowing where your money is going is powerful to enable you to control your spending & saving. My budget goes all the way out to 2017 - I can tell you today what we forecast to have in the bank by then so can plan holidays/pool/rebid around this...
    Last edited by Juzz; 07-07-2014 at 21:38.

  2. #12
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    Another useful thing is an app called trackmyspend by smart money (Australian securities & investments). It's a great budgeting tool and is quite easy to use. You can do your own budget and easily keep track of your expenses.

  3. #13
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    Gothel is offline Skip the drama, stay with Mama!
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    If you are with NAB, check out their online money tracker. You can look at all your income & expenses, categorise and track everything. It's very useful to see exactly where your money is going, which them makes it much easier to see where it *should* be going

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  4. #14
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    Thanks for all the advice have decided not to go through them. I have downloaded the budget app and will look at the one on the computer too. I have looked at our spending but with all the bills paid and shopping petrol etc there isn't a great deal left but we will manage.

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    HappyBovinexx  (11-07-2014)

  6. #15
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    I haven't used them because I haven't had the need to.. but when I met my DH he was awful at managing money and had been in a lot of debt in the past, so I worked up a few spreadsheets that we use together that track everything budget related.

    My main tip would be to learn the difference between your theoretical budget (monthly income against expected monthly expenses) and your cash flow forecast (when those expenses are expected in relation to your income). If you are living pay to pay or close to, the big bills coming in are what hurt, even if they should be covered in your theoretical budget. This is where having a cash flow forecast works wonders.. you can anticipate the times when money is tight and foresee your approximate bank balance and therefore know not to spend on anything but the essentials at that time and in the lead up.

    Hope that makes sense, best of luck paying off your debts and regaining control.

  7. #16
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    I work out all our bills 4 the year from our mortgage n groceries right down to the dogs rego, divide by 52 then by 2 and we each put that much in2 a bills bank account every week. All our bills come out of it and it works really well. No arguments n no unexpected surprises. We're doubling our mortgage repayments at the moment to try and get ahead for if we get pregnant.

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    Chillies  (15-07-2014)


 

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