Editor’s note: This is one woman’s experience of budgeting with her family, not professional finance advice.
I like to make sure everything important is paid. And sorted. Before the due date. I know for someone who likes wine as much as me, you didn’t see that coming did you?
Here are my 10 tips to budget the sh*t out of life.
1. Do your research
Last month I literally saved $200 on bills by calling our phone, electricity and insurance providers and making sure they were giving me the best rates. They weren’t. Sh*theads.
I recommend everyone does this at least twice a year.
2. Write it down
I have weekly budgets on my phone in the notes section. My next six weeks are set out there. It says what money comes in and what money goes out. It doesn’t take long. What we earn and what bills are due.
I live by my notes section. Little organised yellow buddy. He’s the best.
3. Think quarterly
I also have a quarterly budget. It’s all the money that comes in and out quarterly.
Budget accurately. If you know you need $600 for birthdays a year, or $1000 over Christmas or $1000 for new clothes per year, budget that in.
It’s an extra $650 a quarter and if you don’t budget it it in it’s money you don’t have at the end of the year. Just sayin’.
Top Comments
There's always a recurring theme in these articles, which is the assumption that us readers can be flexible with our menus and the brands we use. Unfortunately, some people do need to have a specific fruit/vegetable in the trolley, as eating a cheaper but in season fruit might just end in a trip to hospital. Same goes for branding, people with anaphylaxis or allergies can't always afford to buy generic or even swap one premium brand for another if the ingredients will trigger a life threatening reaction.
Even the healthiest person should strive to buy the best quality food possible, if only to save money on supplements, medication and medical treatment later on down the track.
Besides, staying loyal to one grocer, health food shop or pharmacy will pay dividends as not only can you trust that their stock is suitable for you, but you can amass savings thanks to loyalty cards and member-only deals. Not to mention the better customer service one receives as a regular!
Do agree with the budget-keeping principle, though!
Completely agree with checking regularly to make sure your with the most cost effective provider for your essentials. We are constantly comparing (probably every 2 months) internet plans, phone plans and home loan rates to bargain a better deal with our current provider. I reckon we save about $1000-$2000 a year by constantly comparing deals.