Editor’s note: This is one woman’s experience of budgeting with her family, not professional finance advice.
I like to make sure everything important is paid. And sorted. Before the due date. I know for someone who likes wine as much as me, you didn’t see that coming did you?
Here are my 10 tips to budget the sh*t out of life.
1. Do your research
Last month I literally saved $200 on bills by calling our phone, electricity and insurance providers and making sure they were giving me the best rates. They weren’t. Sh*theads.
I recommend everyone does this at least twice a year.
2. Write it down
I have weekly budgets on my phone in the notes section. My next six weeks are set out there. It says what money comes in and what money goes out. It doesn’t take long. What we earn and what bills are due.
I live by my notes section. Little organised yellow buddy. He’s the best.
3. Think quarterly
I also have a quarterly budget. It’s all the money that comes in and out quarterly.
Budget accurately. If you know you need $600 for birthdays a year, or $1000 over Christmas or $1000 for new clothes per year, budget that in.
It’s an extra $650 a quarter and if you don’t budget it it in it’s money you don’t have at the end of the year. Just sayin’.
I’ve been trying to get back into my floral crowning and have decided it will have to take a side seat. I’m definitely up for some custom orders and have been doing some through DMs but I am now focusing mostly on BLOGGING. I have a crazy life as a Mum to six kids- trying to give them the happiest and healthiest life possible without loosing my mind completely . If my MUM BLOGGING with the occasional flower crown and bouquets is not your thing, that’s absolutely fine!!! I’ve just had so many of you moving across to my blogging and I didn’t want to loose you all- after all most of you gave me the strength and power to believe in myself first as a home business Mum and now as a blogger- I hope you’ll join me in this journey- keep your eyes peeled for my mamma GIVE AWAY this week- it’s going to be a good one!!!
4. Price match the sh*t out of everything
Never just buy a large product. Ever.
Every single product I buy I price match the sh*t out of. Big W, Toys’R’Us, Bunnings Baby Buntings and Good Guys are just a few stores that price match.
I am not buying a $400 blender when it’s on special at another store for $235. I just can’t justify it. Price match me b*tches.
5. Eat what’s on special
We have a strict shopping budget of $200 a week. Don’t take a specific list.
You can write down essentials; bread, butter, milk, yogurt, 700 nappies. But I don’t decide on fruits, vegetables or meat until I get there.
Who knew pumpkin was going to be 80 cents a kilo? Or pork at $7 a kilo? Pumpkin soup and Pork roast anyone?
6. Buy in bulk online
Once a month I do a huge online shop that normally costs $300. Our beautiful delivery man brings it to our door, 12 bags worth, every time.
I buy things I don’t want to cart home. Awkward things like 24 rolls of toilet paper.
I go to the “half price sub section” at Woolworths and get to stocking up. Online shopping saves me so much when I only look and buy specials from it. If you spend $300 shipping is free, and sometimes they throw in products to try.
Just remember this is for eight eating family members. Yours will probably be less; you lucky bastards.
7. Say no to credit cards
I would say no credit cards, but for some of you thinking, it’s too late for that talk Krechelle – don’t worry, I hear you.
We’ve mostly all been there. So make sure you swap over cards into “no interest free” periods to pay those bad boys off. If you’re really feeling the pressure, go into your bank to discuss your options.
A personal loan with a lower interest rate or a consolidation into you home loan is always possible. Don’t feel stuck. Banks, despite their seedy reputations want to keep you as a customer and are the best ones to speak to!
8. Budget for incidentals
Budget incidentals. We have $100 a week. It’s my fun money.
Two large lattes, a Mac powder and some flowers please. Or sometimes it’s movies with the kids. Sometimes it’s “the dog ate a stone that’s too large”.
9. Go nuts on Gumtree
Gumtree. Oh how I love you Gumtree. We sell things we don’t need. And get high quality things we do need.
Just sold “unused wetsuit”. Just gained $30 rustic coffee table. Win. Win.
LISTEN: Penina Petersen feeds her family on $42 a week. Here’s how (post continues after audio…)
10. Subscribe, subscribe
Website clearances. Get the emails people. Subscribe.
So when Seed has a 40 per cent off clearance, you can get $9 jeans like I did.. or a $23 Horse watch from SurfStich. Totally worth it.
Please note: We are not rich.
We have a mortgage and a renovations loan and bills, bills, bills. And for the 4200 people that ask… no, we do not receive “government pensions” you nosy f*ckers. My husband works seven days a week. He works hard. And I work too. At home, I write and hopefully, one day soon, in radio (fingers, toes and nipples crossed).
There is a lot of planning that goes into our lives. And budgeting is essential. But the organisation of it all makes it less stressful.
Hope any of this helps. If not, disregard all of this and go with what works for you.
What tips work for your family to make sure all the bills are paid on time?
If you liked this, you might love The Barefoot Investor. We do, here are some of our favourites.
If it’s the kids that need help learning money doesn’t grow on trees, try this jam jar hack. It’s brilliant.