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Starting over with budgeting and saving again!

September 1st, 2012 at 02:17 am

To find the money to do all that I need do from now on, I diffidently need to start saving and cutting back on my spending for a few months. I am planning to review my needs and wants from now on!

If I have already earmark a project and booked it then I will go ahead with it. Some things canít be stopped but others are just plans that need be saved for so will need work out which needs to done and what can be left for the future like new kitchen indoor painting and floors.

I went over what I need to do in next six months and found that I am short on funds by $5000 on an age pension this is a worry but the pension it will cover most of my bills over this period. Itís the living expenses that will take the hit. So letís see how far I can cut these expenses for now.

Some things have been over estimated so there will be a savings found in some places.

Hereís a list of some things plan in near future.
Trips - Sydney wedding and visit to my sister later next year but fare need to be paid in this period. (both are interstate.) Estimate $2000
Out of pocket dental that canít be put off. Estimate $2000
Car service that is well overdue so approx. $500
Rates and water bills, power, medical fund annual fee, phone & internet fees, car rego. Approx. $5500
House & Car Insurance due (these are the ones that I am worried about) Estimate $2700 but could be more.

Planned expenses for next six month estimated about $12,700
Age Pension over this time frame under $10,000

So living expenses will be almost nil for next few months, itís lucky that I do have savings to fall back on if I need too! I will try not to spend too much of it though.

2 Responses to “Starting over with budgeting and saving again! ”

  1. crazyliblady Says:

    You do a great job keeping track of your expenses and income and staying within your budget. I try to emulate you by stretching the resources I have (such as food I already have in my freezer or cupboards) and using it as effectively as I can. This enables me to have extra money for debt payments and home repairs that I need to get done. Thanks for the inspiration.

  2. Tightwad Kitty Says:

    I think I could go a number of months before I did a major supermarket shop.

    I do have a large stockpile so I am planning to check there first before I do any shopping other than fresh Fruit and vegetables, rolled oats and skim powdered milk. Live off my cupboards first.

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