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Money Saving Ideas!!! Lock Rss

Im needing all the help I can get. I have a 4 month old daughter, and hopefully there will be another bub on the way soon. But both me and hubby have decided that we are going to go to uni in brisbane in 2007. During the time were at uni, were going to need to live off about $500-$550 a week. And were also wanting to save about $8,000 before we move, just to cover moving costs and basic needs while we are up there.

Any tips on cost cutting?

Jade

Mum to Sophie 11/08/2005 and Lachlan 21/11/2006

I have a separate account for putting money in for bills. I worked out on average over the year what all the bills add up to (phone, car rego, electricity etc) and then put a monthly amount in there every month (otherwise we wouldn't be able to eat the month the car rego and rates and internet bills come in all at once). Then I pay (BPay) out of that account or transfer money when direct debit/CCard payments come out. That way I know all the bills are taken care of.
I also have a budget that has food and petrol and other expenses worked out for the month (you have to think of everything you spend money on) so I know exactly how much we have left for "entertainment" etc. Then just gotta keep track of spending and try to keep DH under control tongue
I don't know about actual "cost cutting" as I've never been one for buying in bulk or anything like that. I just like to budget and keep an eye on things that way.
Although, when I was at uni I used to try to take my Lunch with me as food can be quite expensive. I cooked just a bit more for dinner and then took the leftovers.
HTH
Having moved about 5 times in the last 3years, i know moving can be a very costly exercise!! So saving $8000 is probably a very good idea.

If your needing a removalist, my advice is definately shop around!! The first time we hired one it was really cheap, but they took forever to get our things to us!! Im talking about 2months!! We werent in a hurry for them but thats not the point is it - thats a rediculous amount of time! Anyway 2nd time we moved, a freind organised the removalist for us as he had a friend that done it at "mates rates"! Turns out it wasnt mates rates at all! As the next time we moved, we had twice as much stuff, and it cost less!!

Im not really very good at saving either. So if your like me, i find the best way to do it is to set up a bank account were you cant access the money in it unless you and your partner sign, and you hav to go into the bank to get money out. Then have a certain amount come out of your account on your pay day, and go directly into the other account. That way you wont really miss the money, and the account will just keep going up. Some banks have accounts too where if you dont touch the money, you earn interest on it - like i know the commonwealth has an 'award saver' one.

As for cost cutting i dont really have any tips. But there was a thing on today tonight a while ago about cutting costs to save money and there was a website: www.simplesavings.com.au

Hope that i've helped....

When my friend moved up from Sydney she hired a shipping container. The company dropped it at her place, her husband packed it, the company picked it up and delivered to her address in brisbane. It was cheap because she did the packing and unpacking.

Money wise, I worked out how much my bills individually cost me for the month, divided that by two (fortnight) and then every fortnight paid that amount for each bill. it took me a few months to get ahead, but now when I recieve my bills I am always in credit. I do this for everything, gas, elec, phone, mobile, rego, rates. You will find that most companies will let you do this, and I now have about $80 per fortnight to spend on whatever, where as before I had nothing and still didn't have enough for bills. As for food/petrol rent, you just have to stick to a budget.

I also have $10 per fortnight direct debited from my income into a trust account for my son. It is not alot but it does help when I need to buy him new clothes for winter/summer, or something special.

hope this helps

qld,3yr old boy

My hubby and I are on roughly $650 per week, with me not working...
I do a budget every few months for the next 4 months in an excel spreadsheet, with the dates, what expenses there will be and when pays come in with a running balance. That way you can plan ahead and then check to make sure you haven't spent more than you should have.
I go shopping on days other than Thursday and Friday (when most shoppers shop), so you find more things reduced - like meat which is expensive for the amount you get.
I buy 2 or 3 boxes of nappies when on special (around $30 ea).
If we get take-away, I make sure it's somewhere that has a special deal, like red-rooster mon-wed 1/2 price chicken and chips, pizza hut vouchers for $3.95 pizzas, etc.
We have telstra mobiles, which have a 'my hour' when calls are free for the first 20 minutes of the call. We try to use this when we have long distance calls or need to give someone a quick ring - just make sure you don't go over the 20 minutes. Hang up and ring back again!
My hubby and I have $80 per fornight to spend on whatever we want (my $40 goes on the gym membership, and sometimes I use his too wink ) which is a way of not feeling deprived, and me getting into shape.
We put between $400 and $800 per month into an award saver account (depends on what expenses there are that month), and use this for any out of the ordinary expenses - new clothes, new baby things, holidays, etc. We try not to touch it very often as it only gets interest if there are no withdrawals in the month, so when we do withdraw, we make sure we've planned ahead that we won't need to again for a while. We have it more as a separate account that doesn't get used, but the interest (if any) is a bonus.

When we got married we were both still at Uni, and living only on Youth Allowance and what Hubby got from a casual job (although we didn't have a baby then) - it can be done, it's just a matter of finding a way for it to work!

All the best,

Rach.

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