Well this is a poignant day. Today is the start of the new approach to finance in the Toombs house and I'm quite excited. I almost feel a bit stupid having never thought to do this before - and feel a bit like 'Ohhhh...does everyone else do this?? - I've never thought to' ...but better late than never... and it just never occured before. From today we are splitting back to using 2 accounts. Not his and hers but fixed bills and living non fixed costs. When money goes in at the beginning of the month it always seems to be such a nice big amount and I feel so much more chilled out and thats when spending can go wrong- I feel like budgets are fine and I'm not as cautious. By the end of the month I'm more aware of making everything stretch as the account is getting low and I've a far more realistic view of how we're doing. But fixed costs are fixed costs so they're always there, they go out on direct debits and basically they just happen to pass through the accounts. So why not clear them out of the way and then I know how much I'm actually living on??!
Our basic bills come to just over a grand. Thats mortgage, council tax, insurances, phones, gas, electric, water etc. So on pay day that amount can stay in and whats left gets transfered over to another account and THAT ONE is for petrol, food, spending, presents, school trips, clubs etc... basically EVERYTHING and ALL cheques need to come out of there. Most importantly when I check that balance I know that is all we have AND that there are no bills due to come out of that - so it should make for better budgetting. So here goes!
I have transferred over the leftovers for this month and am a little wary that we have £317 to live off for the month...and car tax is due in 3 days so thats 1/3 gone already! Looks a little frightening to be honest - but then I know that that amount is always what we have - its just normally hidden at this stage of the month amongst lots of other pennies that are promised to some company! So since its also 4 family birthdays this month too we'll be pushing the weekly shop amount to the very extremes and I'm not going till the cupboards are actually empty!!