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Monday, July 1, 2013

Happy New Financial Year

I don't know that my bank balance would agree with the title here but it is the new financial year and I am bound and determined to make it a happy one financially and in general too. I overhauled our budget a month or so back and things have certainly improved for us. I went from a rather laissez-faire system (that would be no system at all)  to using the tried and true envelope type of system.
 
It is all relative though. When I look at our situation, it is actually rather good and we are grateful for what we have and how we live.
 
a calendula which has nothing to do with finances.
 Our bills are mostly paid by direct debit or I write cheques and so our cash needs are down to four  envelopes plus our pocket money.

Petrol: $60 per week
Pocket Money: $20 per week
Chook food: $10 per week (I think I need to tweak this amount a little)
Tim's work 'syndo': $4 (this is for tea, coffee, milk etc)
Groceries: $150/ week

So far, it is working for us. I'm not sure how the $150 per week for groceries will stand up with Tom at home but I'll try.

I have found that it is easier than I thought it would be and apart from the chook food and 'syndo', there is generally some leftover lolly in the envelopes each week. We had become too accustomed to just going to the ATM and taking out more cash whenever we wanted. Certainly having only $10 pocket money each for the week makes you think twice before you buy a cappuccino.

Menu planning is also key. Without it the system wouldn't work for us at all.
Snow peas which also have nothing to do with finances
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Our other costs are fairly well fixed and I think we have the best deals we can for phone, insurance, electricity etc. But I'll keep working on it.

Last month I took a big step and gave up my terrible(and embarrassing) addiction to cola. And this month I am adding chocolate to my banned substance list. I'm not sure how easy that will be but my body can only be better for it I'm sure.

Tracy

5 comments:

shez said...

its great having a budget to work to and i had to laugh i have the same addiction as yours,here's to a great new financial year.xx

Lisa said...

Well, I wish you well with your new plans, Tracy. (chocolate can't be so bad, can it??)

Our Neck of the Woods said...

It's great that you are on a budget! We have set amounts that we try to stick to each month as well for our grocery bills. We need to revisit our budget soon because we haven't looked at it in a little while. It's always great to get a handle on your expenditures!

Joolz said...

When you say groceries, do you just mean food stuffs or does that include cleaning products and personal care items? Some weeks, I can spend $40 in the cleaners/shampoo aisles alone! I try to buy stuff on special but often I run out of everything at the same time. Frustrating!

End Of Financial Year means lots of paperwork and reconciling for me - yuck!

Anita said...

I try to stick wtih a budget - try LOL.
I find having all the bills paid by direct debit has been the biggest help to our finances. Never have to worry - oh where will i get the $1000+ for council rates - again!
Oh and I wish I could give up the same addiction too LOL