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  1. #21
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    Quote Originally Posted by 2BlueBirds View Post
    What does he do?
    My husband used to own his own truck.
    he’s a design director. after getting let go from a job while i was on mat leave in 2016, he decided he’d try and freelance rather than accept another salaried employee post. so he’s been essentially freelancing/contracting since. first year he copped a huge tax bill then second year he made more money so the tax he’d paid during the year wasn’t enough

    he’s now doing a government appointment but he’s not employed by then directly, he’s employed by the recruiter on a casual basis. so no holiday or sick pay but he gets overtime rates, which is pretty good. he’s on a very good wicket currently, supposed to be there til july then needs to figure out his next step.

  2. #22
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    I haven't read the book, so disregard my thoughts if you wish.

    I think these targets for savings and different categories of expenses are all well and good if you earn a decent income.

    It wouldn't work with me because income in pretty well equates to expenses out. I do save money out of every pay, however it all seems to be gone by the end of the year on essentials. Christmas is a nightmare as I get around $4k in bills coming in Dec / Jan and that is before Christmas and back to school spending.

    That is with very little luxury or discretionary spending. Clothes spending is pretty well nonexistant these days. Entertainment, Birthdays and Christmas are as low as I can get them without cutting out altogether.

    All other expenses are fixed and beyond my control - eg water, rates, insurances etc. Food is the only expense I can play around with. However at the end of the day, single parent with below average income = not much wiggle room.

    If you can't get your expenses to meet BI targets, it may be a case of your income not allowing it and not an indication of excessive spending.
    Last edited by SSecret Squirrel; 11-03-2019 at 16:28. Reason: grammar

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    turquoisecoast (11-03-2019)

  4. #23
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    i think the point (we’ll how i’ve interpreted his point to be) is to get people to be more considered and deliberate in their spending, perhaps questioning before each purchase “do i really need this”. also to try and trim expenses where possible. which for us, it’s been great. i find we are way more conscious and deliberate with our spending and so much more accountable.

    but i do agree with you, if you’re only bringing in enough to cover the basic expenses, then yeah, there’s probably less room to use his predetermined %. you’re basically doing what you can to keep head above water.

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    babyno1onboard (11-03-2019),SSecret Squirrel (11-03-2019)

  6. #24
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    Quote Originally Posted by turquoisecoast View Post
    i think the point (we’ll how i’ve interpreted his point to be) is to get people to be more considered and deliberate in their spending, perhaps questioning before each purchase “do i really need this”. also to try and trim expenses where possible. which for us, it’s been great. i find we are way more conscious and deliberate with our spending and so much more accountable.

    but i do agree with you, if you’re only bringing in enough to cover the basic expenses, then yeah, there’s probably less room to use his predetermined %. you’re basically doing what you can to keep head above water.
    That was us. We're not excessive in our spending at all, and our living expenses are high due to investments in assets, but we weren't saving, which felt crazy given we both work and have decent enough wages. We don't drink, smoke, or eat out a lot as a family so it helped to see where our money was going and made us more conscious of how we were splurging.

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    turquoisecoast (11-03-2019)


 

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