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  1. #21
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    Quote Originally Posted by yadot View Post
    After all bills are paid inc money into savings etc what do you allow your family for one week?

    For groceries, petrol, small activities/ outings etc

    We are x2 adults x3 kids 6 years and under (only night time nappies for x2 and no formula)

    I try to stick to $500 per week but always seem to go over!

    What's your weekly budget?

    Budget for what exactly ?
    Because your topic makes no sense.
    You saying you "budget" After bills are paid? and rest is spent on groceries and whatever ? If so, that is not how you do a Budget.

    Your a family of 5... how are you spending $500+ After bills are paid ?

    I am a family of 6, we can do groceries of $150-$180 a week and that is eating very well.
    Knowing how to shop = mass savings.

    Where is rest of your money going too ??

    Just blowing it because you have it ? How much are you actually putting into savings per week, if anything at all ?

    We save in our savings account per week around $200, every time we hit $1k it goes into a term deposit

    We shop wisely, spend what we need, we dont buy coffee's and lunch and other junk to keep other people better off in their pockets, we think long term and spend less then we ever need too so we have a larger amount for whatever we may need it for.

    We once used to just spend the weekly hard earnt money without thinking - pay rent, buy food, have x amount left, buy this and that just cause... nup those days are long gone now.

    And thankfully so, we wouldnt have a better financial life now if we kept doing stupid things and not thinking how much we could save per YR by making smarter changes and spending money cause we need too not cause we want too or can and then oneday end up in a situation there is no work or not enough and no money or savings because we spent it on stupid things, coffee, lunches, alcohol etc, useless toys, clutter stuff... that is used 1-2 times or shelf stuff collecting dust.

  2. #22
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    Default What is your weekly budget?

    Quote Originally Posted by Sensational View Post
    Budget for what exactly ?
    Because your topic makes no sense.
    You saying you "budget" After bills are paid? and rest is spent on groceries and whatever ? If so, that is not how you do a Budget.

    Your a family of 5... how are you spending $500+ After bills are paid ?

    I am a family of 6, we can do groceries of $150-$180 a week and that is eating very well.
    Knowing how to shop = mass savings.

    Where is rest of your money going too ??

    Just blowing it because you have it ? How much are you actually putting into savings per week, if anything at all ?

    We save in our savings account per week around $200, every time we hit $1k it goes into a term deposit

    We shop wisely, spend what we need, we dont buy coffee's and lunch and other junk to keep other people better off in their pockets, we think long term and spend less then we ever need too so we have a larger amount for whatever we may need it for.

    We once used to just spend the weekly hard earnt money without thinking - pay rent, buy food, have x amount left, buy this and that just cause... nup those days are long gone now.

    And thankfully so, we wouldnt have a better financial life now if we kept doing stupid things and not thinking how much we could save per YR by making smarter changes and spending money cause we need too not cause we want too or can and then oneday end up in a situation there is no work or not enough and no money or savings because we spent it on stupid things, coffee, lunches, alcohol etc, useless toys, clutter stuff... that is used 1-2 times or shelf stuff collecting dust.
    I never said I budget after bills are paid. I said "after all bills are paid inc money into savings what do you have left for groceries, petrol, activities etc."

    I don't get what part of this doesn't make sense?

    I budget fortnightly. Mortgage, savings, rates, utilities, car expenses, savings etc all comes out first. I know how to budget. I was just curious what others allow for groceries, activities etc AFTER all bills are paid.

    And you assuming we are blowing our money every week is pretty rude. DH has a pretty decent salary. It hasn't always been like this but now that he earns more and our children are older we like to spend a bit more on them. Spending money on spending time with our kids is important to us. Day trips, movies, other activities all cost money.

    (I realise you can go to playgrounds for free which we do as much as we can. And I don't like clutter or 'spoiling' my kids with heaps of toys they don't play with so that isn't an issue in our house at all)

    We are taking our family to Disneyland this year and that is where the bulk of our money is going at the moment. Again, NOT blowing money imo.

    Anyway, thanks to everyone else who understood my post and replied!
    Last edited by yadot; 08-04-2017 at 06:46.

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  4. #23
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    Quote Originally Posted by Sensational View Post
    Budget for what exactly ?
    Because your topic makes no sense.
    You saying you "budget" After bills are paid? and rest is spent on groceries and whatever ? If so, that is not how you do a Budget.

    Your a family of 5... how are you spending $500+ After bills are paid ?

    I am a family of 6, we can do groceries of $150-$180 a week and that is eating very well.
    Knowing how to shop = mass savings.

    Where is rest of your money going too ??

    Just blowing it because you have it ? How much are you actually putting into savings per week, if anything at all ?

    We save in our savings account per week around $200, every time we hit $1k it goes into a term deposit

    We shop wisely, spend what we need, we dont buy coffee's and lunch and other junk to keep other people better off in their pockets, we think long term and spend less then we ever need too so we have a larger amount for whatever we may need it for.

    We once used to just spend the weekly hard earnt money without thinking - pay rent, buy food, have x amount left, buy this and that just cause... nup those days are long gone now.

    And thankfully so, we wouldnt have a better financial life now if we kept doing stupid things and not thinking how much we could save per YR by making smarter changes and spending money cause we need too not cause we want too or can and then oneday end up in a situation there is no work or not enough and no money or savings because we spent it on stupid things, coffee, lunches, alcohol etc, useless toys, clutter stuff... that is used 1-2 times or shelf stuff collecting dust.
    Your assumption that the OP is blowing her money is rude.

    Instead of going off on your own little tangent about how you are so much better with money than anyone else, why didn't you just answer the question or move on.

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  6. #24
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    Default What is your weekly budget?

    Quote Originally Posted by yadot View Post
    After all bills are paid inc money into savings etc what do you allow your family for one week?

    For groceries, petrol, small activities/ outings etc

    We are x2 adults x3 kids 6 years and under (only night time nappies for x2 and no formula)

    I try to stick to $500 per week but always seem to go over!

    What's your weekly budget?
    We don't really budget. Terrible I know but my husband earns good money and we have decent savings in our offset and $12k in our mortgage redraw.

    We are a family of 5 plus a 45kg dog and I would estimate that I spend an *average* of $300 week on groceries. Sometimes it's less than $200 and sometimes it's well over $300.

    I work part time and I my 3 kids all have extra curricular activities. I could be more frugal but honestly could not be bothered going from shop to shop buying all the specials. I shop for convenience at my local supermarket because it's not in a busy shopping centre and it's closest to home. Sometimes I have them deliver or do click and collect.

    In these times of low interest rates, a term deposit is a waste of time. Much better putting any savings in an offset to reduce interest and pay off the mortgage more quickly.

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  8. #25
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    Quote Originally Posted by BigRedV View Post
    We don't really budget. Terrible I know but my husband earns good money and we have decent savings in our offset and $12k in our mortgage redraw.

    We are a family of 5 plus a 45kg dog and I would estimate that I spend an *average* of $300 week on groceries. Sometimes it's less than $200 and sometimes it's well over $300.

    I work part time and I my 3 kids all have extra curricular activities. I could be more frugal but honestly could not be bothered going from shop to shop buying all the specials. I shop for convenience at my local supermarket because it's not in a busy shopping centre and it's closest to home. Sometimes I have them deliver or do click and collect.

    In these times of low interest rates, a term deposit is a waste of time. Much better putting any savings in an offset to reduce interest and pay off the mortgage more quickly.
    This is us. I work almost full time and DH works interstate. I spent years as a SAHM chasing the cheapest deals for groceries. I'd rather pay more and invest the time with my kids now I'm at work 35hrs per week. Our kids also all have after school and before school activities.

    Our savings go on to our mortgage (re-draw option), and would not waste time with a term deposit account either.

    We don't budget our spendings. We're on a decent combined wage, and yes we plan for the future, but we're not spending the next 30 years working and not living at all to save a bit of money. If we needed to to get by then sure we would, but we work hard and earn enough that we can enjoy some luxuries as well.

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  10. #26
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    Some interesting responses! For those who feel like they earn reasonable money do you have income protection/life insurance/trauma etc? We have extremely good insurance products in place in case the worst was to happen. We also have our children insured so if god forbid one was diagnosed with a serious illness we would be paid out a lump sum to cover medical expenses.

    These cost us quite a bit (also funded through super) but definitely worthwhile. Anyone else have the same?

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    Quote Originally Posted by Chippa View Post
    Some interesting responses! For those who feel like they earn reasonable money do you have income protection/life insurance/trauma etc? We have extremely good insurance products in place in case the worst was to happen. We also have our children insured so if god forbid one was diagnosed with a serious illness we would be paid out a lump sum to cover medical expenses.

    These cost us quite a bit (also funded through super) but definitely worthwhile. Anyone else have the same?
    We have life insurance, not income protection. For us income protection is not worth it...I know that sounds crazy, but we can live without my wage, and for DH...he is the CEO of a company. He has investors that would buy him out if he was unable to work and we would have enough to cover medical expenses, be debt free and have a chunk of money to put in to savings. Someone would need to take over from DH. If it was just a temporary thing (like a few months not permanent), he can work from home if it was an injury that prevented him getting to and from work etc.
    We've weighed up the options and decided not to fork out money for extra insurances.

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    is your life insurance held personally or through your super?

  13. #29
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    Quote Originally Posted by turquoisecoast View Post
    is your life insurance held personally or through your super?
    Both.

  14. #30
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    Default What is your weekly budget?

    I love these threads, so interesting to hear what people spend/budget! Until recently, we haven't had to worry much about budgeting. But a year after upgrading to a bigger house with a bigger mortgage I have had to leave work to better support my 2yo son who has some additional needs. So we're back down to 1 income and have the added expense of therapies. So we'll need to get a bit tighter with our budget.

    I spend about $200-250 on groceries per week (family of 4, one in nappies and my kids eat loads!), probably works out to be about $40 per week on petrol per week for 2 cars, and we order takeout once a week. There are loads of other expenses that we need to look at like activities for the kids, clothes, other extras that we haven't really had to think much about until now.

    And yes we have savings, agree that term deposit is a waste, we have an offset account and also an investment that brings in about $800 per month.
    Last edited by Cue; 08-04-2017 at 17:56.


 

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