Just... Sometimes with a bit of a struggle due to years of living it up and partying with plenty of disposable income and it's taken us a while to get used to living on one income. We have loans and a fair few bills to pay off but we make it work and we don't go without. We are lucky DF gets paid well but he does work his butt off 6 nights a week, if he didn't work nightshift and get the extra overtime it would be much harder..
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07-11-2013 21:24 #51
07-11-2013 21:52 #52
I have to watch my money a lot being a single mum and not working at the moment.
My CC went $300 over the limit so i had to take out a Centrelink loan to put it back under but I also with that loan I bought the book pack for my prep next year. I really want to get my cc's limit down to $1000 instead of $2000. So I'm going to try not to use it unless it's an emergency.
I always try to put away $10-20 per fortnight away in a seperate savings account. Then I put $10-20 on electricity and now the CC I will put at least $10 on it.
I really hate renting!
Single mummy to a wonderful DS (Born 11/12/2008)
07-11-2013 21:55 #53
Yes we do, because I'm very strict with our budget. Nothing goes into savings right now as I'm not working and my ppl/FTB haven't started yet. I hate not putting $$ into savings, it stresses me. However my credit card is paid off and only used for emergencies, and I have a nice $1k buffer in our bills/rent account, and don't touch our other savings account ever.
We rent, but car etc we paid for outright.
07-11-2013 22:01 #54
We don't have any credit cards but have a car loan.....but we only use DH to support ourselves and never have to borrow money. I guess we just pick and choose what's important.....DH isn't very good at it haha so I have to nudge him in the right direction
07-11-2013 22:09 #55
Yes I do.
When I was married our income was over $160,000 a year. Now I'm a single mum I'm on less than $50,000 working part time. My ex quit his job so I receive no child support.
I actually have much more freedom with my money and can save wonderfully on my own.
I Bpay bills fortnightly, menu plan, shop to a specific grocery list & cook things from scratch. My grocery budget is $150 a fortnight for 1 adult and two kids and I rarely spend that. We also eat very healthy meals - but I never had a scrap of wastage. I've not thrown out a single piece of fruit or veg that's gone off since I've been single. When I was married I used to buy new stuff each week - too much of it - and throw sooooo much wasted produce in the bin. I'm just much more conscious and aware of things we need.
I also have private health insurance, gym membership & have regular coffee outings with friends.
But I'm very budget conscious. I also sell off everything we don't use anymore (outgrown clothing, things I haven't used in ages).
I managed to save $13,000 for a surgery I had last month.
I also have a savings account I don't touch and I have money automatically deposited into there each fortnight.
I have a credit card but I use it well. I never put anything on there that I couldn't pay off that day. I pay for everything with it to accumulate points to cash in for gift cards (I've just received a $100 WISH woolies/Big W card and a $100 Coles/myer card that I'm using to buy Christmas presents for my boys). I have never had interest charged and I've never got a 'balance owing'.
I actually get a bit excited over budgeting and being smart with money. I's love to get my hands on the paperwork behind some of my friends who often have bills unpaid or struggle with money. I'd love to help sort them out. It's such a rewarding and freeing feeling.
Last edited by Theboys&me; 07-11-2013 at 22:12.
07-11-2013 22:10 #56
My mum gave me this good advice
"If you cant pay cash for it, you cant afford it"
Obviously things like home or car loans are the exception. But i believe it applies to anything else.....
The Following User Says Thank You to SoThisIsLove For This Useful Post:
07-11-2013 22:11 #57
07-11-2013 22:14 #58
07-11-2013 22:16 #59
07-11-2013 22:17 #60
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