Your Cheapskates Club Newsletter 30:17
In this Newsletter
1. Cath's Corner
2. In the Tip Store - Cleaning the Fireplace Glass Door; Key to Togetherness; Get Your 'Wish' Shopping for Less
3. Share Your Tips
4. On the Menu - Swedish Meatballs with Cream Sauce
5. The $300 a Month Food Challenge - Guerrilla Shopping Part 3: Go Generics!
6. Cheapskates Buzz - Cheapskaters are talking in the Forum and on Cath's blog
7. Member's Featured Blog - My Challenge
8. Last Week's Question - How do we budget on a single, irregular income with young children
9. This Week's Question - Is a Costco membership worthwile?
10. Ask Cath
11. Join the Cheapskates Club
12. Frequently Asked Questions
13. Contact Details
1. Cath's Corner
Hello,
Thank you all for your patience while I worked on the forum this week. There were some much needed upgrades to be done and it meant the forum was up and down (more down than up over the weekend) but now it's back and running even better.
Not being technologically savvy some of the upgrades were a learning experience for me, teaching me new skills.
Every day I read tips and suggestions from you and you can bet your bottom dollar there will be something I haven't thought of, or haven't tried, or a variation on something I'm already doing, and I've learned a new way to do something or think about something and our life is just that little bit better.
Learning is always good, whether it's how to do a forum upgrade or cook a new recipe or save money or something else, we should never stop learning and never think there is nothing new to learn.
Happy Cheapskating,
Cath
PS: Love our site? We love referrals! Send a note to your favourite newspapers, magazines, radio stations, TV stations, friends and relatives, and tell them about us!
2. From The Tip Store
Cleaning the Fireplace Glass Door
Cath's tip in the newsletter on how to keep your fireplace bricks and tiles clean inspired me to share my tip on how to keep the glass door of your slow combustion fireplace clean. Simply dampen some paper towel and dab it into some of the fire ash. Wipe this over the inside of the glass door in sections, repeating where necessary to loosen the soot on the door. Use a clean paper towel to wipe clean. No elbow grease required. A clean door allows more heat to be generated into your home and therefore your fireplace will burn more efficiently. Remember safety first, only do this when your fireplace is not lit and is completely cool!
Contributed by Sara Law
Key to Togetherness
Isn't it annoying when your measuring spoons separate and then they get lost in that drawer...! I have several sets, but the rings holding them together eventually break and the spoons all go their separate ways. That's where all those extra keyrings (souvenirs perhaps?) are really handy.... all my measuring spoon sets are back together again and easy to find.
Contributed by Pauline Edwards
Get Your 'Wish' Shopping for Less
Buying nice presents for people can be expensive. Shopping online is a great way to get good bargains but one of the best online shopping marketplaces is Wish. A lot of their stuff is free and you only pay for postage. The rest is extremely cheap and postage is excellent. For example, I got a rose-gold nurses watch with cubic zirconia free and I only paid $3 postage. The catch is you wait 3-4 weeks for delivery. So, if you're prepared, you can save tons!
Contributed by Emma Seabrook
There are currently more than 12,000 great tips in the Tip Store
3. Submit your Tip
The Cheapskate's Club website is over 3,000 pages of money saving hints, tips and ideas. Let's get together and make the Cheapskates Club Australia's largest online hint, tip and idea library. Share your favourite money saving, time saving or energy saving hint and be in the running to win a one-year membership to The Cheapskate Club. We publish a Winning Tip each Thursday, so enter your great money, time or energy saving idea now.
Share your favourite hint or tip that saves money, time and energy and be in the running to win a one-year subscription to The Cheapskate Journal.
Remember, you have to be in it to win it!
Submit your tip
4. On the Menu
Swedish Meatballs with Cream Sauce
This is one of my favourite winter meals. It's cheap, can be prepared or made ahead and either cooked or reheated when needed and it tastes great.
Serves 4
Cost $6.33
Ingredients:
750g mince $5.25
1/2 cup fresh breadcrumbs .30c
1 onion, grated .30
1/8 tsp allspice .05c
1 egg, beaten .18
1 cup beef stock
1 tsp cornflour .05
1/2 cup cream .20
Method:
Combine mince, grated onion, allspice and egg until well combined. Roll teaspoonfuls into balls. Chill for 30 minutes. Brown in a lightly greased fry pan until browned all over and cooked through. Set aside to stay warm. In a small saucepan whisk the beef stock and cornflour and bring to the boil. Whisk in the cream and simmer, stirring continually, 3 minutes. Pour sauce over meatballs and serve with mashed potato.
This week we will be eating:
Sunday: Roast Beef
Monday: Swedish Meatballs, noodles
Tuesday: Refrigerator Lasagne
Wednesday: Sweet chilli chicken tenders, fried rice
Thursday: MOO Pizza
Friday: Tacos
Saturday: Stuffed potatoes with cheese, coleslaw, pineapple, sour cream
In the fruit bowl: mandarins, limes
In the cake tin: Sultana cake, date loaf
There are over 1,500 other great money saving meal ideas in the Recipe File.
5. The $300 a Month Food Challenge
Guerrilla Shopping Part 3: Go Generics!
Be brave, don't be afraid to try new brands, even if they are generic!
I will confess to being a bit of a brand snob - for the things that matter to me.
And I struggled a little when Aldi first opened, then again with Costco, because I didn't recognise the brands. But when you are shopping on a tight budget you can't afford to not try something to find out if it is going to meet up to your standards and save you some money.
Let's face it: sugar is sugar, flour is flour. For these basics, I haven't noticed a difference in anything but the price. Try it, if you don't like the product you don't have to keep on buying it. But if generic white vinegar is $1.09 for 2 litres and the brand name is $1.89 for 2 litres you'd be nuts to be paying the extra 80 cents just for a fancier name on the bottle.
Yes, brand matters - sometimes. I have a brand of coffee that I will not budge on. I have tried others and I don't like them and frankly life is just too short to drink lousy coffee and be miserable. I stock up when it's on sale (coffee has a few sheets in my price book) so I never pay full price for it. And every morning as I take that first sip, I smile, knowing I have my favourite brew at a budget price.
It is totally OK to have a couple of favourite brands that you stick with. Savvy Cheapskaters know how to get them at rock bottom prices. But for everything else, don't be brand loyal.
Keep an open mind when it comes to brands and you'll save money.
The $300 a Month Food Challenge
The Post that Started it All
6. Cheapskates Buzz
Most popular forum posts this week
Did you Know the First Recorded Cheapskate was a Woman??!!
http://www.cheapskatesclub.com.au/memberforum/showthread.php?1989-Did-you-know-the-first-recorded-Cheapskate-was-a-woman-!!&p=30769
It's a Family Affair!!!!
http://www.cheapskatesclub.com.au/memberforum/showthread.php?1987-It-s-a-family-affair!!!!&p=30735
Savings Tin
http://www.cheapskatesclub.com.au/memberforum/showthread.php?1713-2013-Savings-Tin
Most popular blog posts this week
Everyone Should be Baking - Even on a Budget!
http://www.debtfreecashedupandlaughing.com.au/2013/05/everyone-should-be-baking-even-on-budget.html
How to Eat Organic, Even if You’re on a Budget
http://www.debtfreecashedupandlaughing.com.au/2013/05/how-to-eat-organic-even-if-youre-on.html
MOO Peanut Butter
http://www.debtfreecashedupandlaughing.com.au/p/peanut-butter-is-favourite-sandwich.html
7. Members Featured Blog
Platinum Cheapskates Club members have their very own Cheapskating blogs, and they are wonderful and inspirational and encouraging and even funny. This week's featured blog is written by Cheapskater SaverMel talking her personal freezer challenge.
My Challenge
Hi Everyone,
It is a beautiful day in Queensland and I am on week two of the lifestyle change. I had some spare time and wanted to share some of my progress.
OK...so I have received the second tip on how to be Debt free, Cashed Up and Laughing - organise my handbag and sort receipts is what I have done and I'm sure I will need to do it again at the end of the week. I have found some interesting things!
I have been looking at my receipts and decided I would like to get my grocery shopping in order and try to look at how we are eating and what we are eating. Up until now I have been a bargain shopper looking for markdown specials and buying in bulk when things seem Super Special. This does save money however as DH pointed out - we have no room in the freezer and what's in those boxes in the pantry? So, after doing some research on this site and reading a lot of advice from you lovely people, I have decided to set myself a Challenge for May. I would like to organise my pantry, freezer and create a price book.
The first step I took was downloading the Daily Spending Record and price book templates. I will look at my grocery receipts for each day of last month and work out what I am buying, how much am I paying and how am I paying for it. This is going to be the biggest part for me and I know it will take a whole month so I will do a bit each day to ensure I don't get overloaded and lose my motivation.
Whilst this is happening we will be working through the freezer stock and looking in the pantry for what we already have rather than just buying it from the shop. This will save me from spending money and it will also allow me the time to get my spending record and the first part of my price book in order. Hopefully I will find out what is in that box in the pantry...I'm sure it's not perishable.
I am keen for any words of wisdom anyone would like to share. I am looking forward to being able to report back through the month on how it is all going.
Thanks for taking the time to read my entry I hope you have a wonderful day.
Login to read more Cheapskates Club Member blogs
8. Last Week's Question
Last week's question was from Amy who wrote
"I have recently worked through the Living the Cheapskates Way free e-course - what an eye opener! I'm very keen to get ourselves free of debt (besides the mortgage... for now!) and it seems so simple. I have gathered up my bills and have a clear picture of all our out-goings. My problem is that our income is not regular. My husband works for himself and draws a very intermittent income supplemented now and then with some casual work. I am a SAHM, caring for our three children (4, 2-1/2 and 5 months). How do we plan and create a budget when we can't be sure exactly what our income will be? I'm sure I can't be the only one; what do other families with casual or intermittent work and pay do?"
Great advice and good, practical suggestions came flooding in for Amy. Here are some of them.
Mara Cvejic answered
Take 10% of your income every time you get paid and set it in a separate account with your bank - that way you start saving for the extra expense that happens. Be prepared for a rainy day - first have the 10%deducted automatically and the learn to love with 90% of your income. Simple but works!
Kate Crawford answered
My dad is a builder, which is intermittent work. After he is paid for each job he sets aside funds for materials to get him started on the next job. He figures out how many jobs he and my brother can do in a year, which is about five. The profits from those five jobs have to keep six people in food, mortgages, panic fund and investment savings. If they pick up any extra work between those five jobs is bonus money to save for when the work dries up (due to high interest rates etc.).
He knows on average how much each of those five jobs bring in, so he builds his budget around them. You can pay yourselves a weekly wage from that. Or you can prepay all of your bills and loans (you reduce your interest payments on loans by doing it this way) ...leaving the rest of the money in the bank to draw on when needed.
So, for my dad he budgets everything on a yearly basis divided by 5...and prepays one fifth of his yearly bills and loans after each job. He divides his yearly food bill by 5, and puts that amount of money aside after each job...and so on for all his other expenses.
If for whatever reason work doesn't happen by the time the next time you're due to prepay your bills, that's when you use the emergency fund that you've built up from the bonus jobs.
If things are going great and you have more than a years' worth of expenses in your emergency fund, you can think about investing some of that money. But that being said the worst time my dad had in his 50 year career while building was that he had no big jobs for 1-1/2 years...so having a big emergency fund is worthwhile!
Ann Green answered
I really feel for you. For the last 13 years we have had irregular income and done jobs that people have not paid for. What I have done has been to prioritize bills. How I have done this may not suit everyone, but it works for us.
1. Phone bill, it is hard to organise extension of time to pay or payment plans if the phone is cut off.
2. Car and house insurance and car registration
3. Power, gas and water
4. Food
5. Medicine
6. Life insurance
7. Council rates
Always keep in touch with those you owe money, most understand and will offer payment options. Where possible use free or cheap medical services. Check to see if you are eligible for a health care card as this gives discounts on water, gas, power, a car registration and if the week is really tight access to food from local charities. A bag of food can make a difference between paying a utility bill or not and grow some of your own food.
SJ answered
Budgeting when your income isn't fixed is hard Amy. I don't work for myself but I am a casual employee and find budgeting hard too due to the fluctuations of my wages. I've found the easiest thing for me was to work out what would be the lowest pay I would get in a week. For me that is 2 x 7.5 hour shifts. I then add this amount to the amount I get from my family tax benefit which gives me my base line for setting a fortnightly budget. From that baseline I pay everything that has to be paid no matter what. So, rent, utilities (I pay these fortnightly), transport costs, after school care costs and food. I can just manage these on that amount of money. So when I get an extra shift or two then I pay things that are desirable but not crucial such as money in my Christmas/Birthday gifts account, phone credit for my prepaid phone, some coins in a secret money box in my room for school things like performances, fundraisers etc. If I have a really good week (4 shifts) I save a full shift's worth of pay into my savings. I hope these tips help.
Sally Coverdale answered
Amy, I would take the income your husband earned for the last tax year and assume that he will earn at least that again this year. Divide this by 52 weeks to give you a weekly income. Use this figure as the base of your budget. Any extra income can be used for saving, emergency fund or peace of mind account. Because of the intermittent nature of your income, if the amount is less for that week, reduce across the whole budget as a percentage e.g. if the average is $1,000/week but one week it is $900 then reduce all categories in your budget by 10%. Correspondingly, if the income is larger, increase across all the budget categories by the percentage increase above the average. This should then even out over a yearly period. This is only a suggestion. Hope you find a solution. Good luck.
9. This Week's Question
Eliza writes
"Hello, I am moving into an apartment by myself, & was thinking of joining Costco. I'd like as much advice as I can get as to whether it would be worth the $60.00 membership for someone who's living alone."
Do you have the answer?
If you can help Eliza, let us know. We'll enter your answer into our Tip of the Week competition, with a one-year membership to the Cheapskates Club as the prize too.
Send your answer
10. Ask Cath
We have lots of resources to help you as you live the Cheapskates way but if you didn't find the answer to your question in our extensive archives please just drop me a note with your question.
I read and answer all questions, either in an email to you, in my weekly newsletter, the monthly Journal or by creating blog posts and other resources to help you (and other Cheapskaters).
Ask Your Question
11. Join the Cheapskates Club
For just 10 cents a day you can join the Cheapskates Club and get exclusive access to the Cheapskate Journal, the monthly e-journal that shows you how to cut the costs of everyday living and still have fun.
Joining the Cheapskates Club gives you 24/7 access to the Members Centre with 1000's of money saving tips and articles.
Click here to join the Cheapskates Club today!
12. Frequently Asked Questions
How do I change my email address?
This one is easy. Members can update their email address or any other details by clicking on "Edit Profile" directly under their membership number after they have logged in to the Member's Centre. Subscribers to our free newsletter can use the Change Your Address form (under Customer Service in the menu) and fill it out. Once you've filled it in click the send button and we'll do the rest. Please remember to include your old email address so we can find it in the list as well as the new one.
How do I know when my membership should be renewed?
When you login to the Member's Centre you will be told how many days of membership you have left once you have 30 days left. Just click on the link to renew and your membership will just continue on, uninterrupted.
What will you do with my email address?
We never rent, trade or sell our email list to anyone for any reason whatsoever. You'll never get an unsolicited email from a stranger as a result of joining this list.
Read our privacy policy
How Did You Get on Our List?
You signed up to receive our Free Newsletter at our Cheapskates Club Web site or are a Platinum Cheapskates Club member
13. Contact Details
The Cheapskates Club -
Showing you how to live life
debt free, cashed up and laughing!
1. Cath's Corner
2. In the Tip Store - Cleaning the Fireplace Glass Door; Key to Togetherness; Get Your 'Wish' Shopping for Less
3. Share Your Tips
4. On the Menu - Swedish Meatballs with Cream Sauce
5. The $300 a Month Food Challenge - Guerrilla Shopping Part 3: Go Generics!
6. Cheapskates Buzz - Cheapskaters are talking in the Forum and on Cath's blog
7. Member's Featured Blog - My Challenge
8. Last Week's Question - How do we budget on a single, irregular income with young children
9. This Week's Question - Is a Costco membership worthwile?
10. Ask Cath
11. Join the Cheapskates Club
12. Frequently Asked Questions
13. Contact Details
1. Cath's Corner
Hello,
Thank you all for your patience while I worked on the forum this week. There were some much needed upgrades to be done and it meant the forum was up and down (more down than up over the weekend) but now it's back and running even better.
Not being technologically savvy some of the upgrades were a learning experience for me, teaching me new skills.
Every day I read tips and suggestions from you and you can bet your bottom dollar there will be something I haven't thought of, or haven't tried, or a variation on something I'm already doing, and I've learned a new way to do something or think about something and our life is just that little bit better.
Learning is always good, whether it's how to do a forum upgrade or cook a new recipe or save money or something else, we should never stop learning and never think there is nothing new to learn.
Happy Cheapskating,
Cath
PS: Love our site? We love referrals! Send a note to your favourite newspapers, magazines, radio stations, TV stations, friends and relatives, and tell them about us!
2. From The Tip Store
Cleaning the Fireplace Glass Door
Cath's tip in the newsletter on how to keep your fireplace bricks and tiles clean inspired me to share my tip on how to keep the glass door of your slow combustion fireplace clean. Simply dampen some paper towel and dab it into some of the fire ash. Wipe this over the inside of the glass door in sections, repeating where necessary to loosen the soot on the door. Use a clean paper towel to wipe clean. No elbow grease required. A clean door allows more heat to be generated into your home and therefore your fireplace will burn more efficiently. Remember safety first, only do this when your fireplace is not lit and is completely cool!
Contributed by Sara Law
Key to Togetherness
Isn't it annoying when your measuring spoons separate and then they get lost in that drawer...! I have several sets, but the rings holding them together eventually break and the spoons all go their separate ways. That's where all those extra keyrings (souvenirs perhaps?) are really handy.... all my measuring spoon sets are back together again and easy to find.
Contributed by Pauline Edwards
Get Your 'Wish' Shopping for Less
Buying nice presents for people can be expensive. Shopping online is a great way to get good bargains but one of the best online shopping marketplaces is Wish. A lot of their stuff is free and you only pay for postage. The rest is extremely cheap and postage is excellent. For example, I got a rose-gold nurses watch with cubic zirconia free and I only paid $3 postage. The catch is you wait 3-4 weeks for delivery. So, if you're prepared, you can save tons!
Contributed by Emma Seabrook
There are currently more than 12,000 great tips in the Tip Store
3. Submit your Tip
The Cheapskate's Club website is over 3,000 pages of money saving hints, tips and ideas. Let's get together and make the Cheapskates Club Australia's largest online hint, tip and idea library. Share your favourite money saving, time saving or energy saving hint and be in the running to win a one-year membership to The Cheapskate Club. We publish a Winning Tip each Thursday, so enter your great money, time or energy saving idea now.
Share your favourite hint or tip that saves money, time and energy and be in the running to win a one-year subscription to The Cheapskate Journal.
Remember, you have to be in it to win it!
Submit your tip
4. On the Menu
Swedish Meatballs with Cream Sauce
This is one of my favourite winter meals. It's cheap, can be prepared or made ahead and either cooked or reheated when needed and it tastes great.
Serves 4
Cost $6.33
Ingredients:
750g mince $5.25
1/2 cup fresh breadcrumbs .30c
1 onion, grated .30
1/8 tsp allspice .05c
1 egg, beaten .18
1 cup beef stock
1 tsp cornflour .05
1/2 cup cream .20
Method:
Combine mince, grated onion, allspice and egg until well combined. Roll teaspoonfuls into balls. Chill for 30 minutes. Brown in a lightly greased fry pan until browned all over and cooked through. Set aside to stay warm. In a small saucepan whisk the beef stock and cornflour and bring to the boil. Whisk in the cream and simmer, stirring continually, 3 minutes. Pour sauce over meatballs and serve with mashed potato.
This week we will be eating:
Sunday: Roast Beef
Monday: Swedish Meatballs, noodles
Tuesday: Refrigerator Lasagne
Wednesday: Sweet chilli chicken tenders, fried rice
Thursday: MOO Pizza
Friday: Tacos
Saturday: Stuffed potatoes with cheese, coleslaw, pineapple, sour cream
In the fruit bowl: mandarins, limes
In the cake tin: Sultana cake, date loaf
There are over 1,500 other great money saving meal ideas in the Recipe File.
5. The $300 a Month Food Challenge
Guerrilla Shopping Part 3: Go Generics!
Be brave, don't be afraid to try new brands, even if they are generic!
I will confess to being a bit of a brand snob - for the things that matter to me.
And I struggled a little when Aldi first opened, then again with Costco, because I didn't recognise the brands. But when you are shopping on a tight budget you can't afford to not try something to find out if it is going to meet up to your standards and save you some money.
Let's face it: sugar is sugar, flour is flour. For these basics, I haven't noticed a difference in anything but the price. Try it, if you don't like the product you don't have to keep on buying it. But if generic white vinegar is $1.09 for 2 litres and the brand name is $1.89 for 2 litres you'd be nuts to be paying the extra 80 cents just for a fancier name on the bottle.
Yes, brand matters - sometimes. I have a brand of coffee that I will not budge on. I have tried others and I don't like them and frankly life is just too short to drink lousy coffee and be miserable. I stock up when it's on sale (coffee has a few sheets in my price book) so I never pay full price for it. And every morning as I take that first sip, I smile, knowing I have my favourite brew at a budget price.
It is totally OK to have a couple of favourite brands that you stick with. Savvy Cheapskaters know how to get them at rock bottom prices. But for everything else, don't be brand loyal.
Keep an open mind when it comes to brands and you'll save money.
The $300 a Month Food Challenge
The Post that Started it All
6. Cheapskates Buzz
Most popular forum posts this week
Did you Know the First Recorded Cheapskate was a Woman??!!
http://www.cheapskatesclub.com.au/memberforum/showthread.php?1989-Did-you-know-the-first-recorded-Cheapskate-was-a-woman-!!&p=30769
It's a Family Affair!!!!
http://www.cheapskatesclub.com.au/memberforum/showthread.php?1987-It-s-a-family-affair!!!!&p=30735
Savings Tin
http://www.cheapskatesclub.com.au/memberforum/showthread.php?1713-2013-Savings-Tin
Most popular blog posts this week
Everyone Should be Baking - Even on a Budget!
http://www.debtfreecashedupandlaughing.com.au/2013/05/everyone-should-be-baking-even-on-budget.html
How to Eat Organic, Even if You’re on a Budget
http://www.debtfreecashedupandlaughing.com.au/2013/05/how-to-eat-organic-even-if-youre-on.html
MOO Peanut Butter
http://www.debtfreecashedupandlaughing.com.au/p/peanut-butter-is-favourite-sandwich.html
7. Members Featured Blog
Platinum Cheapskates Club members have their very own Cheapskating blogs, and they are wonderful and inspirational and encouraging and even funny. This week's featured blog is written by Cheapskater SaverMel talking her personal freezer challenge.
My Challenge
Hi Everyone,
It is a beautiful day in Queensland and I am on week two of the lifestyle change. I had some spare time and wanted to share some of my progress.
OK...so I have received the second tip on how to be Debt free, Cashed Up and Laughing - organise my handbag and sort receipts is what I have done and I'm sure I will need to do it again at the end of the week. I have found some interesting things!
I have been looking at my receipts and decided I would like to get my grocery shopping in order and try to look at how we are eating and what we are eating. Up until now I have been a bargain shopper looking for markdown specials and buying in bulk when things seem Super Special. This does save money however as DH pointed out - we have no room in the freezer and what's in those boxes in the pantry? So, after doing some research on this site and reading a lot of advice from you lovely people, I have decided to set myself a Challenge for May. I would like to organise my pantry, freezer and create a price book.
The first step I took was downloading the Daily Spending Record and price book templates. I will look at my grocery receipts for each day of last month and work out what I am buying, how much am I paying and how am I paying for it. This is going to be the biggest part for me and I know it will take a whole month so I will do a bit each day to ensure I don't get overloaded and lose my motivation.
Whilst this is happening we will be working through the freezer stock and looking in the pantry for what we already have rather than just buying it from the shop. This will save me from spending money and it will also allow me the time to get my spending record and the first part of my price book in order. Hopefully I will find out what is in that box in the pantry...I'm sure it's not perishable.
I am keen for any words of wisdom anyone would like to share. I am looking forward to being able to report back through the month on how it is all going.
Thanks for taking the time to read my entry I hope you have a wonderful day.
Login to read more Cheapskates Club Member blogs
8. Last Week's Question
Last week's question was from Amy who wrote
"I have recently worked through the Living the Cheapskates Way free e-course - what an eye opener! I'm very keen to get ourselves free of debt (besides the mortgage... for now!) and it seems so simple. I have gathered up my bills and have a clear picture of all our out-goings. My problem is that our income is not regular. My husband works for himself and draws a very intermittent income supplemented now and then with some casual work. I am a SAHM, caring for our three children (4, 2-1/2 and 5 months). How do we plan and create a budget when we can't be sure exactly what our income will be? I'm sure I can't be the only one; what do other families with casual or intermittent work and pay do?"
Great advice and good, practical suggestions came flooding in for Amy. Here are some of them.
Mara Cvejic answered
Take 10% of your income every time you get paid and set it in a separate account with your bank - that way you start saving for the extra expense that happens. Be prepared for a rainy day - first have the 10%deducted automatically and the learn to love with 90% of your income. Simple but works!
Kate Crawford answered
My dad is a builder, which is intermittent work. After he is paid for each job he sets aside funds for materials to get him started on the next job. He figures out how many jobs he and my brother can do in a year, which is about five. The profits from those five jobs have to keep six people in food, mortgages, panic fund and investment savings. If they pick up any extra work between those five jobs is bonus money to save for when the work dries up (due to high interest rates etc.).
He knows on average how much each of those five jobs bring in, so he builds his budget around them. You can pay yourselves a weekly wage from that. Or you can prepay all of your bills and loans (you reduce your interest payments on loans by doing it this way) ...leaving the rest of the money in the bank to draw on when needed.
So, for my dad he budgets everything on a yearly basis divided by 5...and prepays one fifth of his yearly bills and loans after each job. He divides his yearly food bill by 5, and puts that amount of money aside after each job...and so on for all his other expenses.
If for whatever reason work doesn't happen by the time the next time you're due to prepay your bills, that's when you use the emergency fund that you've built up from the bonus jobs.
If things are going great and you have more than a years' worth of expenses in your emergency fund, you can think about investing some of that money. But that being said the worst time my dad had in his 50 year career while building was that he had no big jobs for 1-1/2 years...so having a big emergency fund is worthwhile!
Ann Green answered
I really feel for you. For the last 13 years we have had irregular income and done jobs that people have not paid for. What I have done has been to prioritize bills. How I have done this may not suit everyone, but it works for us.
1. Phone bill, it is hard to organise extension of time to pay or payment plans if the phone is cut off.
2. Car and house insurance and car registration
3. Power, gas and water
4. Food
5. Medicine
6. Life insurance
7. Council rates
Always keep in touch with those you owe money, most understand and will offer payment options. Where possible use free or cheap medical services. Check to see if you are eligible for a health care card as this gives discounts on water, gas, power, a car registration and if the week is really tight access to food from local charities. A bag of food can make a difference between paying a utility bill or not and grow some of your own food.
SJ answered
Budgeting when your income isn't fixed is hard Amy. I don't work for myself but I am a casual employee and find budgeting hard too due to the fluctuations of my wages. I've found the easiest thing for me was to work out what would be the lowest pay I would get in a week. For me that is 2 x 7.5 hour shifts. I then add this amount to the amount I get from my family tax benefit which gives me my base line for setting a fortnightly budget. From that baseline I pay everything that has to be paid no matter what. So, rent, utilities (I pay these fortnightly), transport costs, after school care costs and food. I can just manage these on that amount of money. So when I get an extra shift or two then I pay things that are desirable but not crucial such as money in my Christmas/Birthday gifts account, phone credit for my prepaid phone, some coins in a secret money box in my room for school things like performances, fundraisers etc. If I have a really good week (4 shifts) I save a full shift's worth of pay into my savings. I hope these tips help.
Sally Coverdale answered
Amy, I would take the income your husband earned for the last tax year and assume that he will earn at least that again this year. Divide this by 52 weeks to give you a weekly income. Use this figure as the base of your budget. Any extra income can be used for saving, emergency fund or peace of mind account. Because of the intermittent nature of your income, if the amount is less for that week, reduce across the whole budget as a percentage e.g. if the average is $1,000/week but one week it is $900 then reduce all categories in your budget by 10%. Correspondingly, if the income is larger, increase across all the budget categories by the percentage increase above the average. This should then even out over a yearly period. This is only a suggestion. Hope you find a solution. Good luck.
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