Sidebar: I did a challenge on here a few years ago and it really helped me get my spending under control so I'm back with a new one!!
Background: DH and I were talking a few days ago about money and our spending habits. He's worried because he's only working like 6 hours a day (if he's lucky) and I'm still on mat leave for another few months.
While doing the dishes tonight, I was thinking of ways we can cut down our expenses and finally make a real effort in cutting down our One account. We got it back in August '09 and its basically stayed at the same number :furious:
Our bills are paid each month automatically with a number a little over what the monthly bill is so we can get a nice credit cushion if things get really though. All of our other expenses (petrol, groceries, etc.) seem to vary month to month even though I budget :dunce:
My Plan:
-Groceries*: $50 a week ($35 necessities, $15 stockpile)
-Petrol: $20 a week (regardless of amount in tank; should be around 3/4 full at each fill up)
-Savings: $34 every two weeks (so we don't have to rely on our One account)
-Retirement: $33 every two weeks
-School Fund: $33 every two weeks
I get "paid" $800 every two weeks while on mat leave. Therefore, I'll be depositing $500 every two weeks into our One account. The other $20 I need to keep around as my chq. account has an automatic savings withdraw for regular use of the account set to $5 per action. Its actually a great way to have some extra cash in my savings account for just in case purchases.
*regarding the low grocery budget amount: We have tons of meat in the freezer from last year's deer hunt. I also have a small stockpile going of the things we use most. I'm also making our bread and eventually will make our pasta as well. The $35 will cover necessities like milk, cheese, lunch meat, fruit, veggies, etc. The other $15 will go towards items we use the most like corn, flour ($12 for 10kg!! :ack: ), items on sale in the flyer, or if I find a coupon on save.ca.
I'm going to try and post on here every night (and mirror the posts on my blog).
Anywho, I'm off to bed as its uber late here!!
Background: DH and I were talking a few days ago about money and our spending habits. He's worried because he's only working like 6 hours a day (if he's lucky) and I'm still on mat leave for another few months.
While doing the dishes tonight, I was thinking of ways we can cut down our expenses and finally make a real effort in cutting down our One account. We got it back in August '09 and its basically stayed at the same number :furious:
Our bills are paid each month automatically with a number a little over what the monthly bill is so we can get a nice credit cushion if things get really though. All of our other expenses (petrol, groceries, etc.) seem to vary month to month even though I budget :dunce:
My Plan:
-Groceries*: $50 a week ($35 necessities, $15 stockpile)
-Petrol: $20 a week (regardless of amount in tank; should be around 3/4 full at each fill up)
-Savings: $34 every two weeks (so we don't have to rely on our One account)
-Retirement: $33 every two weeks
-School Fund: $33 every two weeks
I get "paid" $800 every two weeks while on mat leave. Therefore, I'll be depositing $500 every two weeks into our One account. The other $20 I need to keep around as my chq. account has an automatic savings withdraw for regular use of the account set to $5 per action. Its actually a great way to have some extra cash in my savings account for just in case purchases.
*regarding the low grocery budget amount: We have tons of meat in the freezer from last year's deer hunt. I also have a small stockpile going of the things we use most. I'm also making our bread and eventually will make our pasta as well. The $35 will cover necessities like milk, cheese, lunch meat, fruit, veggies, etc. The other $15 will go towards items we use the most like corn, flour ($12 for 10kg!! :ack: ), items on sale in the flyer, or if I find a coupon on save.ca.
I'm going to try and post on here every night (and mirror the posts on my blog).
Anywho, I'm off to bed as its uber late here!!