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  1. #1
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    Default Budget.

    I've never really been a budgeter.

    Newly separated on not much income I'm going to have to change my ways.

    With just me and an 18 month old, after bills/rent but not food I will have around $400-450/w.

    Do you think it's possible to live and save a bit on this amount?

    I'm sure it's been done to death (that is budgeting tips) but Id be eternally grateful for any advice/input.

    TIA

  2. #2
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    I write up my budget fortnightly, sometimes I do it a few times to get it how I think it will work best.

    I always split my bills up and make 2 payments because I get paid fortnightly but you could do it weekly, I then write down the bills that are always the same and get paid first and then the bills that change ( my phone bill for example).

    I was always taught to treat savings as a bill, so I pay money into my savings account when I am paying my other bills and I make sure that account is with another bank with a different card, it just makes it easier for me to not touch it but I can still access it need be, as a single parent I feel like I really need to have money set aside for emergencies.

    I usually do one big grocery shop and then a smaller one so I don't waste food or money on repurchasing things I don't need too.

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    SpecialK  (11-05-2015)

  4. #3
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    Subbing for tips.

  5. #4
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    I think you will be ok, we are a family of 4 and survive on less then that a week. Do meal plans so you know what you need when you go shopping and you don't end up impulse shopping. I agree with treating savings like a bill work out what you can afford each week even if it's only $30 and put it away and try your hardest not touch it. With bills I budget for everything and put that money away into a high interest savings account. So for say rego I add all our regos and then divide by 52 and put that away each week, so I'm always earning a good amount of interest on my bill paying account and I always have the money in there to pay the bill when it comes in. I like this way because if I pay a little of my rego each week I wouldn't earn any interest so it's a bonus for me.

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    SpecialK  (11-05-2015)

  7. #5
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    I started a FB page on modern budgeting if you want the info just PM me and I will send you the link. Heaps of people writing in with ideas for saving money

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    SpecialK  (11-05-2015)

  9. #6
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    I realise this post is afew weeks old now. How are you going with your budget? If thats what you are left with each week after all your bills then yes, absolutely. We live on $470 a fortnight after all regular bills are paid (I bpay electricity, gas etc each fortnight)

    Of that $470 fortnight we spend 150 on groceries at Coles, 50 at butcher and fruit mart, 70-80 on petrol, save 50. Whats left is our "play" money which normally isnt much at all! If its someones birthday etc the money has to come from here.

  10. #7
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    Thats for our family of 5 and our Coles shop includes 2 in full time nappies and 1 in night nappies.

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    If u have $400-$450 a week after bills and rent your doing really well!!

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    AngelicHobgoblin  (07-06-2015)

  13. #9
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    Sorry to hear of your separation OP. It's a very hard thing to go through. But on that amount you will be A-OK, I promise! I'm single with a three year old and have approx $150 - $250/fn leftover for me. It's not easy but I get by. Having $400 sounds like a dream to me! It's understandably daunting when all this is brand new to you but just start by keeping a diary of everything you spend so you can see where it's all going & where you need to cut back, if you do need to good luck xxx


 

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