Money chat

Let’s talk money! Right now I am a little nervous, although in some ways we are in a good position with me doing some part time work and my husband working away the last few months have been a challenge. I have to add we are in a fortunate situation and doing ok with money but we could do better, and if we don’t reign it in could be a lot worse. Through roster changes, sickness and other likes we have ended up earning less than standard. This has resulted in a bit of a credit card bill.

$4500 to be exact.

Now $1500 was a deposit for the new built in robes which we will use my tax return for.

$500 was for payment for car mechanics as a result of an accident which is being claimed back. Note done!

There are also a few medical claims I need to lodge. Must do this.

But the rest is just spending. We have budgeted this year for our tax returns and mid year bonus and money from selling a car to go towards certain items- namely renovating the house, the birth of the next baby ( we are private) and having a savings buffer of at least $10k.

It’s not that we waste a lot of money, honestly we don’t eat out much, we don’t shop heaps but things do slip through the net. So I am challenging myself to a $150 shopping budget per week ( sounds a lot but this includes cleaning products, nappies, toiletries etc) or $100 if possible. I plan to do this using meal plans and using up items in freezer and cupboard. I may even start posting a meal plan here. I plan to start keeping track of this by using a cash in envelope method.

I have been treating myself a bit, mainly to beauty products, and whilst I don’t regret these purchases they need to stop. Each week the husband and I get pocket money to spend as we see fit. I am going to try and save at least half of mine ($50per week) and put it in savings for a new wardrobe in a year or so once i have reached my ultimate post baby goal. Again I plan to use a cash in envelope method for the money I can spend and not touch the rest. Into my savings account I will also put money I make from selling any items I am not truly going to use on eBay. Any beauty products I have got and never used I may also sell.

Honestly we are pretty well set up our supers are in order, we have insurances and we pay a little extra on our mortgage every time but now my husband works away our goal is to
save routinely from his paychecks ( however little). In not getting accustomed to the money we are not tied to a fifo life.

Whilst I know we only are on less for a period of time until I am back to working full time in a couple of years. However, that doesn’t mean we are in stalemate right now- no siree we can still creep forward at the pace which suits us at the moment!

Are you budgeting? Have you got savings goals?

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