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How do we get ahead financially?

Answered 5 years ago

We’re not going backwards but I feel money is always a struggle. There’s things we need to do around the house and car repairs piling up but I just can’t seem to find the money.
Is this how everyone lives?
I’d love to stop worrying about money.


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ANSWER
5 years ago
I was hand to mouth for years, but no debt but no savings. We had a bad run and ended up with a bit of debt, but then realised we couldn't actually pay the debt off.
I declared the next six months to be tight wod months.
The first thing is getting your partner to agree and that is the hardest part.

First get bills down, look around for cheaper everything.
Be that annoying person nagging about lights being left of and doc kids pocket money for leaving lights on. You don't all need to be in different rooms with lights on, only two rooms can have lights on. No heating or cooling unless extreme temps. No internet or pay tv, and limit how much devices can be used.

I gave myself $120 a week for food shopping, 2 adults 2 kids. Made very cheap meals and only meat three times a week and small portions. Kids didn't eat dinner they went hungry I wouldn't tolerate any waste. I made all snacks and meals from scratch.

Saying no was difficult, no birthday parties, no to friends and family wanting to go out for a meal, or anything with a long drive. It all adds up.

Obviously no spending on non essentials.

We found free local things to do on weekends.

It worked, we struggled but got used to it and payed off the debt and then had a bit saved up.

Replies

REPLY
5 years ago
$240 fortnight
Is that only for food ?

REPLY
5 years ago
I spend $240 pf on food always, 3 kids one adult...

ANSWER
5 years ago
We save 20% of my husbands wage and 100% of mine. Savings are extra loan payments, funding for emergency, holidays and investments. We all get $75 a week for personal spending.

ANSWER
5 years ago
Get cheaper ph plan
Stop buying take away coffee
Cook more
Stop washing all the time
Cancel pay tv

Replies

REPLY
5 years ago
Good advice actually

REPLY
5 years ago
No OP but i have cheap prepay on old phone. I cook every night. Wash clothes when dirty, never buy take away coffee and don't have pay tv. It's insurances that crush our budget. Home health cars.
What's your advice for me please? Been racking my brain...

REPLY
5 years ago
If you havnt already, get iselect or similar to check all your insurances (i did this, got a better deal on everything!), also use them to check if you are getting the best deal on your broadband, gas etc.
If you have a health care card/pension card and a car $5000 or under you can get really cheap car insurance from AAI -
Shop at Aldi
If you have a low income and not eligible for a payment of any kind you can still apply for a health care card.

REPLY
5 years ago
Get a better job

REPLY
5 years ago
^useful advice thank you.
And no thanks our jobs are fine. Idiot.

REPLY
5 years ago
If your jobs are fine you can’t manage your money loser

REPLY
5 years ago
Loser? Nothing loser about wanting to save more and spend less. But thanks for the insight 😂

ANSWER
5 years ago
Spend less than you earn. Go through your bank statements and work out where your money is going, then prepare a budget and stick to it. Average out your bills for the year and pay an amount off them each pay. Meal plan.

ANSWER
5 years ago
Your life sucks

Replies

REPLY
5 years ago
Not as much as yours!! By the way, your village is looking for you.

ANSWER
5 years ago
Get the Petrol Spy app.
Yesterday I saved $24 when Fueling the car.

Then, I never buy anything from coles or woolworth without checking Half price app. So, worth...

Replies

REPLY
5 years ago
I didn't know this was a thing

ANSWER
5 years ago
In WA (maybe elsewhere too - Google it) Step Up loan ... low interest loan for people on low incomes for essential things like car repairs

ANSWER
5 years ago
Aim for at least 3 $0 spend days per week.... As in 3 days per week where you dont spend anything...

ANSWER
5 years ago
Pay yourself first.
So decide how much you're gonna save each week, even small amounts $10/20/50 etc, pay that into your savings account before any other bills or shopping. Hide that account from your viewing so you won't spend it. I swear if you check in a few months time you'll be surprised how quickly it adds up and you'll want it to grow! Otherwise it's a good start towards repairs etc that need doing.

ANSWER
5 years ago
Find free things to do that get you out of the house.

ANSWER
5 years ago
Cut down what you don't need, be conservative and frugal. Don't over indulge. You'll be amazed at how much extra you'll have