yep what used to be a good wage and what is now though of us average just is not enough these days
as far as mortgage so glad we don't have one but having said that its got to the point if you don't have one now that so called average income earner will never have one
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14-01-2012 18:51 #21Senior Member
- Join Date
- Nov 2011
15-01-2012 13:38 #22
Big annual bills like care rego and insurance and home and contents were killers for us as they are all due in early January. The cost of these plus Christmas and DH's and DS1's birthdays were getting us into trouble. So last year I divided the annual cost by 26 and have that amount deducted automatically into an online savings account. When they were due we had the cash instead of putting it on the credit card (as we had done in previous years) and taking months to pay it back.
It was such an emotional relief not to have the stress this year.
15-01-2012 13:52 #23
I just got a job and moved my family to a mining town. DH found a job too. This was the only way we could figure out how to get ahead. Added bonus is that we love it out here. Who would have guessed?
15-01-2012 14:05 #24Senior Member
- Join Date
- Nov 2011
did you get housing included, rental prices in mining towns are ridiculous
15-01-2012 14:37 #25
Not sure if I read it right, but I got the following figures from what you've said:
Annual fixed costs: $48,000 (=weekly fixed costs of $923)
Annual combined net income: $90,000 (=weekly net income of $1,730)
Is that correct?
If it were me, I would open a separate bank account and call it my Bill Account. Every week I would deposit $923 into it, and then leave it. That way when the bills arrive, the only inconvenient thing about them is having to process the payment.
Again, if it were me (and bearing in mind I don't know your full situation), I would take the remaining $807 and deduct the usual cost of groceries/petrol/everyday expenses from it (which I will guesstimate to be around $300), and deposit the remaining $507 into a high interest savings account.
I don't know if that is even helpful to you, but it is how I manage our finances.
to you. Feeling out of control in any situation sucks.
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our little treasures (17-01-2012)
15-01-2012 14:56 #26
I am not sure if anyone has mentioned this (sorry, no time to read whole thread ATM), but have you tried to budget a certain amount each pay to save for those annual / large bills? I opened up an online account with ANZ that I can't access with my everyday EFT card (online use only) and each fortnight I put away:
$30 for each car rego
$25-30 for water bill
$40 for house rates
....etc and this helps a lot as I don't stress when a large bill arrives.
As for Gas and Elec I have an easyway plan through TRU energy and they take out of my account around $100 for gas and elec each fortnight and depending on the season, I am in credit or debit, but it balances it out (use gas more in winter, elec more in summer...etc). They adjust your payments once you have been with them a number of months.
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