Just wondering if it's worth the money to have a professional look at our finances to see if that helps, as we are obviously doing something wrong!
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02-07-2015 13:21 #1
Has anybody used MyBudget/online finance advisor?
02-07-2015 13:32 #2
Or can anybody suggest any other options to help us stop living week to week?
02-07-2015 13:41 #3
I have an excel spread sheet of our income and all our expected expenses then. Any remaining goes either to savings or as "back up" for unexpected expenses. If you have trouble not spending whatever money you have available, each pay try transferring a certain amount to an account you can't readily access (ie. No atm card). Treat savings like its a bill you have to pay or set up for it to be transferred automatically.
I've heard some people have found very useful recording everything they spend. I have done this before but now we're on top of it I don't record it (but I do keep a mental tallie of grocery and eating out expenditure for the week as if we are going to over spend it will usually be in these areas).
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02-07-2015 13:48 #4
If you have any form of self control, dont waste your money.
Write down all your expenses and work out how much that is each pay cycle. Set up BPay payments for this amount on your pay day.
Then set up a savings account, maybe 2. 1 for things like gifts, car maintenance etc. And one for long term goals.
Look at which liability has the highest interest rate and pay as much extra as you can off it. Cancel any credit cards.
Pm me if you want more info, I would be happy to discuss privately.
02-07-2015 14:34 #5
I've used my budget, feel free to pm
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02-07-2015 15:10 #6
Thanks everyone, I have decided against my budget after finding out their fees 😱
Until now I've just been paying bills as they come in, and setting no limit to outgoings (although I obviously try and be careful to not spend too much)
I have taken your advice and set up a spreadsheet with all my bills paid fortnightly, then transfer to a seperate account spending money for DH and I, and grocery/petrol money. Anything leftover in the original account is used for bills or (if it gains enough money) gifts and savings.
Hopefully that works! See how I go, thank you both for your advise
02-07-2015 17:31 #7
You could go to a financial counsellor. They are free and can help you to set a realistic budget. The Financial counselling assn will have links to a financial counsellor near you.
Links here https://www.moneysmart.gov.au/managi...al-counselling
Last edited by SpecialPatrolGroup; 02-07-2015 at 17:33.
02-07-2015 17:36 #8
02-07-2015 19:02 #9
I just stopped giving gifts (apart from our kids). I saved so much money. I understand heaps of people wouldn't want to do that but we were getting in over our heads.
We still have so much debt with hubby not working and only Centrelink but the financial counsellors are great and they can do lots of negotiating for you
03-07-2015 02:01 #10
I may have worked for a company thats been mentioned on here....! I think you made the right call.
Good luck :-) Don't give up!
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