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  1. #191
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    Wow. I just went though some stuff trying to do a budget. We pay $20,000 a year for all insurances, rates and utilities. OMFG. No wonder we don't save anything.

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    DT75  (29-04-2016)

  3. #192
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    Quote Originally Posted by babyno1onboard View Post
    Wow. I just went though some stuff trying to do a budget. We pay $20,000 a year for all insurances, rates and utilities. OMFG. No wonder we don't save anything.
    When I looked at my figures it was a real eye opener

  4. #193
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    Quote Originally Posted by babyno1onboard View Post
    Wow. I just went though some stuff trying to do a budget. We pay $20,000 a year for all insurances, rates and utilities. OMFG. No wonder we don't save anything.
    With bills such as insurance & electricity, it's really beneficial to shop around, get quotes from a few different providers & ask your current provider to beat the quote. Lots of people have every type of health, life, income protection, funeral insurance under the sun - it's quite a personal choice which insurance you feel you need. We only have home & contents & cars insured - no PHI, & life insurance only through our super. Council rates vary so much according to location. We pay $2600/year for council rates. I always find ways to cut expenses out of our budget when I need to, but I always have things I will be happy to compromise/let go (such as PHI), & some things I will not compromise on,because they are too important (such as private school fees). Different for everyone!

  5. #194
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    Default If your a sahm/dad how much income?

    Quote Originally Posted by cheeeeesecake View Post
    With bills such as insurance & electricity, it's really beneficial to shop around, get quotes from a few different providers & ask your current provider to beat the quote. Lots of people have every type of health, life, income protection, funeral insurance under the sun - it's quite a personal choice which insurance you feel you need. We only have home & contents & cars insured - no PHI, & life insurance only through our super. Council rates vary so much according to location. We pay $2600/year for council rates. I always find ways to cut expenses out of our budget when I need to, but I always have things I will be happy to compromise/let go (such as PHI), & some things I will not compromise on,because they are too important (such as private school fees). Different for everyone!
    That is the bare minimum for us unfortunately. No cutting left Basic hospital cover for PHI as it's cheaper than the Medicare level surcharge. No income protection insurance. No life insurance.

    Oh and when I say utilities that's just for the council charges! Doesn't even include gas and electricity, which would be another $2,000. Sorry I'm ranting.

  6. #195
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    DH and I recently redid our life & income protection insurance, and other than a small fee it's paid annually via super.

    Personally I think it's essential.

    Else if an emergency hits, you end up crowdfunding, which I think is quick tacky as an adult. (Not saying everyone will, but my FB feeds seems to be filled with it!)

    People don't bat an eye paying insurance for their health, car etc, but don't plan for death or illness.

  7. #196
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    Default If your a sahm/dad how much income?

    Quote Originally Posted by Hollywood View Post
    Jesus, that's a huge mortgage! Ours is only $1300! I'm guessing that a lot of high income earners are fairly maxed out with mortgages, and that's where the money is going.
    $5000 is not our minimum repayments it's how much we pay towards our mortgage so that we can pay it off in 10 years instead of 25 or 30. I guess I should have clarified haha!

    ETA we live in Perth
    Last edited by TeaM; 29-04-2016 at 09:31.

  8. #197
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    Quote Originally Posted by TeaM View Post
    $5000 is not our minimum repayments it's how much we pay towards our mortgage so that we can pay it off in 10 years instead of 25 or 30. I guess I should have clarified haha!

    ETA we live in Perth
    actually come to think of it this is what we are putting on ours each month too.

    min payment per month is $3098 and we pay an extra $500 per week onto it. we settled a year ago (pretty much to the day lol) and are $20k ahead. hoping to keep this going and have it knocked off sooner rather than later!

  9. #198
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    Quote Originally Posted by babyno1onboard View Post
    Wow. I just went though some stuff trying to do a budget. We pay $20,000 a year for all insurances, rates and utilities. OMFG. No wonder we don't save anything.
    God I don't even want to do that...considering we pay about 55,200 on child support and stuff for my step kids, to their mother (based on 1200 a week, minus our 'half' of school hols- 6 weeks).

  10. #199
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    Quote Originally Posted by babyno1onboard View Post
    Wow. I just went though some stuff trying to do a budget. We pay $20,000 a year for all insurances, rates and utilities. OMFG. No wonder we don't save anything.
    When you add up essential bills, it's a crazy amount!

    All families too have their "essentials" or things they won't get rid of. For us it's health insurance, house/car/life insurance plus dedicated savings. Probably school fees in a few years. Every year when I do our budget I start with the essentials and work top down, then you can see which other areas you might be able to trim. Life is expensive!

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    Default If your a sahm/dad how much income?

    Quote Originally Posted by DT75 View Post
    God I don't even want to do that...considering we pay about 55,200 on child support and stuff for my step kids, to their mother (based on 1200 a week, minus our 'half' of school hols- 6 weeks).
    Haha yes we pay about $50K for CS and school fees for stepkids too.

    I slashed out yesterday and got myself a $12 tshirt from Temt and some new clothes from the Target bargain bin for DD 😂
    Last edited by babyno1onboard; 29-04-2016 at 11:17.

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