Jump to content
Sign in to follow this  
Dr. Cranium

Do you budget?

Recommended Posts

After a recent post in up late it seems i am the odd one out who puts money away each week for things. And people having to use their tax returns to pay for rego and what not.

 

I take what the cost of something is, ie. my car = 150*52 = 7904. I like to take around 7 weeks off a year (unpaid, use holiday pay to pay for the holiday), so i divide it by 45 = $175 and i round it up to $200 just because i can.

 

I do this for most things, each week i transfer a certain amount for each expense; phone, internet, insurance, car etc. and they are directly taken off my credit card. Use the points for fuel/cash back. Money is not something i stress about anymore!

 

Does anybody else do something similar or am i an epic nerd?

Share this post


Link to post
Share on other sites

I try to budget.

 

Bit hard with no job, and a missus who impulse buys all the time.

Share this post


Link to post
Share on other sites

I do that for all my bills... Started a little late for my rego though and couldn't maintain the higher weekly amounts so tax return is covering it this time. Heh

Share this post


Link to post
Share on other sites

your an epic nerd, i get paid monthly and i have done it so ALL my bills come out the day i get paid so the money left over i can blow on shit, i have no savings, you may be a nerd but your a prepared nerd

Share this post


Link to post
Share on other sites

i usually just spend what i need through the week and then transfer whatever is left into a savings account.

i dont buy shit unless i need it though i havent bought clothes in a year or so haha i usually just survive on what given to me for xmas/bday

 

i am constantly buying car parts though and never tend too sell my old stuff. i should have a huge garage sale of all the shit i have collected

Share this post


Link to post
Share on other sites

$1100 a month goes into a bills account for house shit (missus does the same)

$2000 a month in my normal spending account to buy whatever I want or just general waste my money. No point in working if you cant enjoy it.

 

And at a minimum I will always put around $3000 or more a month away into my high interest savings account.

 

It's taken a while to be this strict with myself and fiances but it feels good never having to worry about bills or if I want to go out to do whatever I want I can. None of this, oh I can't because I don't get paid for another week bullshit.

Share this post


Link to post
Share on other sites

I use free software called Money Manager Ex to budget properly. The missus and I sit down and work out approximately what we spend on around 10-15 different categories (income, groceries, medical, cars, clothes, all bills, mortgages etc), punch them in for a financial year and then export our bank statements on a monthly basis and import them in to the software. You can see cash flow, where the money has been spent and how your spending is going versus your income. Pretty much a necessity with two mortgages & a Wedding coming later this year. At the end of each year you then adjust the budget based on where you over\under spent and hope you get bonuses or pay increases to cover it for the next financial year!!!

Share this post


Link to post
Share on other sites

Yeah, I budget and am trying my damndest to get the missus doing something as opposed to spend it all weekly. I'd be stuffed otherwise as I spend about as much as I make currently. Trying to get rid of a few debts and then pour money into savings. Aiming to get to a point where I can have a house loan and pocket $500-1000 a month in savings. Just use an excel spreadsheet at the moment, as it does all the tracking I need but gives me the option to change things frequently.

Share this post


Link to post
Share on other sites

My missus keeps a spreadsheet of our budget, i'm the impulse buyer in my relationship :lol:

Share this post


Link to post
Share on other sites

I generally don't need to budget, I get paid monthly, bills are automatically taken out then I spend the rest of the monies 95% of the time on tyres, drift days etc.

 

I would like to budget though, think I would get much more out of it than just spending money willy nilly lol.

Share this post


Link to post
Share on other sites

My missues works for a budgeting company so she deals with it all lol

Share this post


Link to post
Share on other sites

never used to budget.. that said with my old job i was living pay to pay due to earning f**k all.

 

however now i do budget, on half decent money haha, i am however covering three peoples living expenses (myself, gf and baby)

 

each fortnight my rent comes out automaticly, we have a set amount aside for shopping, everything else is dumped into a savings account... bills come out autopmaticly. that said the savings account has taken a beating this last month.

 

once the gfs credit card is paid out ill be laughing. house deposit and japan trip within this next year... even better when the gf starts working again!

Share this post


Link to post
Share on other sites

never used to budget.. that said with my old job i was living pay to pay due to earning f**k all.

 

exactly why i dont budget together me and my wife only clear $7200 a month

$1000 on car loan repayments

$1800 on rent

$600 on food

$600 on my debt agreement

$800 on bills

 

doesnt leave much to play with

Edited by Stig Mick

Share this post


Link to post
Share on other sites

never used to budget.. that said with my old job i was living pay to pay due to earning f**k all.

 

exactly why i dont budget together me and my wife only clear $7200 a month

$1000 on car loan repayments

$1800 on rent

$600 on food

$600 on my debt agreement

$800 on bills

 

doesnt leave much to play with

 

Thats 86400 ish.

 

-57600

 

is still almost 30k.

 

Or am i missing something?

Share this post


Link to post
Share on other sites

never used to budget.. that said with my old job i was living pay to pay due to earning f**k all.

 

exactly why i dont budget together me and my wife only clear $7200 a month

 

 

id kill to make 7200 a month lol.

Share this post


Link to post
Share on other sites

never used to budget.. that said with my old job i was living pay to pay due to earning f**k all.

 

exactly why i dont budget together me and my wife only clear $7200 a month

$1000 on car loan repayments

$1800 on rent

$600 on food

$600 on my debt agreement

$800 on bills

 

doesnt leave much to play with

 

Thats 86400 ish.

 

-57600

 

is still almost 30k.

 

Or am i missing something?

 

Yeah we get about $1200 spare each per month

Share this post


Link to post
Share on other sites

never used to budget.. that said with my old job i was living pay to pay due to earning f**k all.

 

exactly why i dont budget together me and my wife only clear $7200 a month

 

 

id kill to make 7200 a month lol.

 

Yeah i forgot you were supporting 2 other people, you probably don't have as many loans and your rent isn't as high?

Share this post


Link to post
Share on other sites

ahhh.

 

rents 1340, loans 500 a month, fine payment is 200 a month.

 

i should actually sit down and figure it out properly... keeping in mind im away so much for work, my bills are cheapish haha

Share this post


Link to post
Share on other sites

I have all my expenses written out at home I write out every month so I know how much money I have left,

 

If you away from home most of the expenses you incurr are claimed back in tax right?

Share this post


Link to post
Share on other sites

I have all my expenses written out at home I write out every month so I know how much money I have left,

 

If you away from home most of the expenses you incurr are claimed back in tax right?

 

when im away i get my day rate on top of my salary.. so say. 240 a day for food/accomadation etc. if i only spend 120 bucks on food/accomadation the other 120 i get to keep if that makes sense.

 

works out well if i just be a jew out here haha

Share this post


Link to post
Share on other sites

I do mine rather different, about 70% of my monthly wage goes to a high Interest savings account.

Everything automated goes to my credit card, I then check the card every 2weeks and see what needs paying before 55days of Interest and i will pay it.

 

I dont worry about money cause in the end my Interest works for me and the more time the bank is wanting my money the more time im making money on my money.

 

Where do you move this per-calculated amount to? Do you have a separate bank account called 'Budget' where you pre-load money into?

Share this post


Link to post
Share on other sites

no budget, however if i had someone else to care for like a missus who had fk all money or child I probably would just incase.

Edited by R32GTRS

Share this post


Link to post
Share on other sites

Yeah that's alright, just live on 2min noodles and tap water?

 

honestly not to far off it... mi goreng and water mainly.. that said when im out on the rigs i get feed way, way to well.. haha

 

 

Where do you move this per-calculated amount to? Do you have a separate bank account called 'Budget' where you pre-load money into?

 

i have a seperate savings/bills account that it all comes out of thats high intrest.. so it just slowly keeps creeping higher and higher.. i rarely even check it now. the money i get left over from my day rate, is my "fun" money atm, going to start putting it away once the track cars up to spec.

Share this post


Link to post
Share on other sites

Yeah that's alright, just live on 2min noodles and tap water?

 

honestly not to far off it... mi goreng and water mainly.. that said when im out on the rigs i get feed way, way to well.. haha

 

Back when I was only earning 2700 a month I was on coles 2 min noodle ad a glass of cole cola EVERY DAY for lunch at work, no breakfast did that for 1 1/2 years, no wonder I always felt like ass

Share this post


Link to post
Share on other sites

Being a full time student, when I have money, I tend to spend it. I get a decent rate at Woolies which helps with my need of car parts. If there's something I need, I'll remind myself not to impulse buy, and keep the money in my account for that particular item. I always tend to pay my phone/rego/insurance late, either because I've forgotten, or purposely put it out of my mind, haha.

 

I planned months ago what I was going to be doing with my tax return. Which is a bulk buy from PBM. :P

Share this post


Link to post
Share on other sites

I used to budget 5 years ago.

Now with 2 mortgages I just make sure I look after all expenses, buy what I need, put away what I don't spend and have at least 1 o/s holiday a year. Life's too short to live on a budget :P

Share this post


Link to post
Share on other sites

Life's too short to live on a budget :P

 

this x11tybillion

Share this post


Link to post
Share on other sites

Being a full time student, when I have money, I tend to spend it. I get a decent rate at Woolies which helps with my need of car parts. If there's something I need, I'll remind myself not to impulse buy, and keep the money in my account for that particular item. I always tend to pay my phone/rego/insurance late, either because I've forgotten, or purposely put it out of my mind, haha.

 

I planned months ago what I was going to be doing with my tax return. Which is a bulk buy from PBM. :P

 

this.. im a full time student and im doing a double degree and i want to get my PHD so im actually trying as opposed to at high school, so i have dick all time for work..

 

lucky my parents got them selves a big ass boat so they sail places whilst i "housesit" and pay them $50 a week rent.. ;) but yeah, dont really earn much more than 350-400 a week atm so most of that is bills/rent/food, the rest gets thrown in the bank for when shit hits the fan..

 

all of the above means - tax time, i spend that shit on myself :P

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Sign in to follow this  

×