I'm doing the same MrsTW! We have a few late bills that will be paid before I put it in place properly though.
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15-08-2012 11:19 #31
15-08-2012 11:34 #32
Re: Tell me your budgeting strategy...
15-08-2012 11:36 #33
Yay for you RR . Its a good feeling taking control of all this. How is your partner involved, are you doing it together? I'm a bit nervous cos Dh has always taken care of the finances but his strategy is 'just don't spend' lol. That just doesn't work for me obviously lol, hence we are going backwards.
15-08-2012 11:39 #34
How is she involved? I tell her what to transfer me when she gets paid
She's useless with money, so I do it all. I did go through it with her though and she's happy with it.
I've always taken care of finances though - most things actually. If I didn't call and cancel DPs phone contract, she'd still be paying two phone bills
15-08-2012 12:09 #35
Re: Tell me your budgeting strategy...
Lol sounds like a good strategy, gimme all your money
15-08-2012 15:32 #36
Best thing I did was set up a savings account where money gets direct debited from my every day account. At the moment it's just $50 a month because I am on sh!tty Centerlink payments, but once I get a job I will change it. I am lucky, I am back with my dad and I just have to pay for my own food and petrol, mobile etc, but so I can save a bit more if need be. As long as you can save something, even just a small amount each month or each pay day then you'll be ok.
15-08-2012 16:49 #37Senior Member
- Join Date
- May 2012
OP if you can afford it there is a really good company called 'my budget' that does it ALL for you for a fee of around $30 a week.
They helped us get bak on our feet and now i do it on my own.
Also getting rid of credit cards is the best idea, its no good spending money you don't have.
I have one that was going to be used for emergency's $1000 later it was all used on bits of this and that, I have $200 to go to pay it off and i am goinf to chop it up into a million little peices and never get another one EVER !!
21-08-2012 16:24 #38
What we do is sort of a variation of a few other posters, but slightly different.
We get our salaries paid into a joint account. Mortgage payment is debited automatically from this each fortnight, and car loan is repaid monthly when I get paid. We pay a third of our quarterly bills as soon as I get paid (using past bills as a guide), and then leave the remaining money in there for groceries, petrol and spending.
We also opened a U bank account (free, online, high interest savings backed by NAB). We then set up a few sub accounts, like gifts (birthdays, Christmas, mothers & fathers day), car rego, baby savings, Uni fees (trying to avoid a HECS debt), etc. I've set up direct debits from our joint account into the relevant ubank accounts on 15th of each month when I get paid. "Out of sight = out of mind" really does work for us.
08-05-2013 17:36 #39Member
- Join Date
- Apr 2013
Just to add, ING or the like accts are good in the sense that to spend you need to transfer money back to your normal acct, which takes 24-48 hours - enough time to rethink 'do I REALLY need this!'
i have several set up, incl a savings account for my son, an Xmas fund, and a rates/big bills account
08-05-2013 18:02 #40
I have an excel spreadsheet so I can see exactly where I have to put my money every week. I have two accounts - a main and an 'emergency/noncontrollables' account. The second one is obviously for bills and savings and things that come up that I can't control. The first is for groceries, stuff for bub (nappies/wipes/etc when she's here, atm that is going to savings to buy carseat and pram) and my entertainment (take away, treats etc).
It's really handy to have it written down and in front of me all the time.. makes it solid/set in stone.
EDIT: Oh hey this is an old thread lol.
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