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Budget Overhaul: Part One

May 23rd, 2009 at 02:21 am

I have decided it is about time I worked out our bills budget. Actually, our budget in general. I am not the type to stick to a budget religiously, but if I have a figure in my mind, I automatically factor that into things when purchasing or choosing to spend money. Of course we go 'over' in many categories, but who's making the rules anyway? We are. So we're breaking our own rules. And if we aren't hurting anyone, or going into debt, does it REALLY matter? Everything sorts itself out in the end.

Having said that, I like to be super organised anyway. I like to have everything written out, and planned. Not that I necessarily stick to any plans, but I like to have them! Wink

I want to start putting away money each week again for our bills. While it will take away from our main account, and may mean a little bit more interest on our home loan in the process, the amount would only be very small, so I think peace of mind is more important in that respect. I just paid DF and my vehicle registration for the year, and it occurred to me that if we didn't have a nice balance in our account, the $1058 I had just forked over would worry me a bit. A year ago it would have not worried me, because I used to put a weekly amount into a bills account. Now we do not, as I wanted to have all the money in one account. But alas, I have realised I am not 'that' type of person. *sigh* I need to have atleast some things split up so I can relax a little in terms of money and accounts. It just makes me nervous to have all of our money together.

So, I endured the painful process of estimating our bills for a year:

House & Contents Insurance 69.56 monthly
Life Insurance 53.67 monthly
Phone & Internet 79 monthly
Mobile Phone 55 monthly
Electricity 240 3 monthly
Gas 100 6 monthly
Car Registration 1058 yearly
Car Insurance 478 yearly
RACQ Membership 62 yearly
Car Repairs 1000 yearly
Property Rates 1900 yearly
Bank Package Fee 395 yearly

I cannot think of any other bills at the moment. Is there anything missing???

At the moment, with the current amounts, that would mean that we spend approximately $9139.76 on bills per year. So if I were to put that away weekly, it would equal $175.76 per week. So if I rounded it up to $180 per week, that should cover everything.


4 Responses to “Budget Overhaul: Part One”

  1. gamecock43 Says:

    I'm not into the weekly accounts- but I cannot throw all money into 1 account either. I must also separate my money.

  2. gamecock43 Says:

    what will be part 2?

  3. shiela Says:

    Do you have private health insurance?
    water bill?

  4. whitestripe Says:

    shiela: no private health insurance and the water bill is in our rates. Smile
    gamecock: lol. i kind of bodged the title seeing as it isn't really an overhaul... Frown
    part two is probably going to be our savings, along with a savings plan.

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