Ok, some of you may remember my Boo Hoo about us bleeding money, even though I have returned to work. Anyway it become clear to me that I was struggling juggling the timing of the income with the outgoings (Dh income 1 fortnight, FTB the other and my income monthly and variable). So my whole "just put a set amount in the bill account each fortnight method" was not working, as it needed to come from both mine and DH's income.
I have now set-up in excel a full on cash flow by week. It has our projected income for the year and the projected expenses. So each week I can see the net gain or loss. Added to that are the bank account balances, so I can see if at any stage over the next year where we just wont have enough to get by without using a credit card to pay for something. It has meant that I can tweek some weeks, so that, for example, a credit card may only get a the minimum payment for that month, but catch it up a month or two later. If we over spend one month, I can see how it will affect future months.
Now it will mean that we will have to watch our money, the period of Dec - Feb is just hideous with Christmas, 3 insurances, 1 rego, new school year etc. Absolutely no going over on groceries, the Christmas budget, petrol etc.
I now have a headache. In one way I feel crappy, as I know we should be in a better position but it does feel good as well. I can now really say to DH with confidence about what we can or cannot afford. Also I can now see the light at the end of the tunnel. After March, it all starts to improve
Now to back it up, would hate to lose all my hard work.
We seem to be leaking money at the moment - paying solicitor's fees, paying bank fees - gah! I know it's temporary for moving house but we also have car insurances and taxes coming up as well as Christmas. And moving costs.
Going to be an expensive end to our year too. I'm too scared to do a spreadsheet until after we move though.
Well done!!! Good on you for being so organised!! It feels good to see the light at the end of the tunnel!!! I do our budget usually monthly where I write the month ahead out on paper and stick it on the fridge so DH can see what bills are due etc every week so we can try not to over spend! Its so hard though when my income is unpredictable!! But it works having it all layed out there to see and so like you say- you cna tweak things or arrange bills for certain weeks. It feel good to have it all organised too- almost as good as when they are all actually paid
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Cashflow done!
but it does feel good as well. I can now really say to DH with confidence about what we can or cannot afford. Also I can now see the light at the end of the tunnel. After March, it all starts to improve
I do our budget usually monthly where I write the month ahead out on paper and stick it on the fridge so DH can see what bills are due etc every week so we can try not to over spend! Its so hard though when my income is unpredictable!! But it works having it all layed out there to see and so like you say- you cna tweak things or arrange bills for certain weeks. It feel good to have it all organised too- almost as good as when they are all actually paid
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