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Saturday, August 23, 2014

Tracking my grocery and incidentals budget with ease

My budget is pretty detailed, across categories within ANZ MoneyManager, but I was still having trouble in managing spending in my bucket for groceries and incidentals on a weekly basis. It seemed to be the area I bled from. 

My budget is $345 p.w., with a notional budget as follows: 
$345.00 Week
$220.00 Week budget groceries
$125.00 Week budget incidentals
$28.85 Gifts
$4.62 Home maintenance
$40.00 Kids
$11.54 Clothing
$2.77 Entertainment
$2.31 Electronics
$15.00 Education
$11.54 Restaurants/dining
$2.31 Service charges
$2.77 General merchandise
$124.46 Total

On a weekly basis they look like small numbers, but across a year they add up. 

ASIC's TrackMySpend to the rescue! I have it as an app on both my iPhone and iPad plus website access. Over the past 7 weeks, I have a better picture on how this bucket has overs and unders each week, and I keep a running total in my budget cash flow spreadsheet. I only use it to track the $345 budget so it doesn't get over complicated. I also use it at the point of spending, not when cleared as a credit card transaction, so I know each day where I'm up to.

At this point it looks like $345 a week is unrealistic, but I've just come through an expensive month with two significant birthdays, so I'll see how it pans out over the next two months before I adjust it. 

Tuesday, July 8, 2014

My style of personal finance podcasts to motivate

Over the past 2 months I have found new inspiration in creating new financial goals from the following podcasts/vodcasts:
- The Barefoot Investor on MTR1377 - Australian Scott Pape with excellent advice to callers, and educational on saving and investment strategies
- The Barefoot Investor season 1
- The Barefoot Investor season 2
- The Dave Ramsey Show - when you need a smack to the back the head, consistent advice to callers to the show
- Stacking Benjamins - lots of interviews with other experts
- MoneyPlan SOS
- The Suze Orman Show - podcast of her TV show, easy to listen to without video, I've read her books before too
- The Clark Howard Show - the nicest, most genuine guy you'll ever listen to, 27 yrs of radio experience, everyday personal finance scenarios, info on scams as well - he doesn't judge you if you still use a credit card
- Listen, Money Matters - 2 30 something yr old guys sharing what they know and what they do with the rest of us 

I found these on the Apple Store, and they meet my need for relatively conservative advice focussing on getting out of debt, owning your own home, having an emergency fund and saving for retirement and those things that matter. The last six are US based (rather than Aussie), but still have relevance in most episodes. They are all backed up with informative websites and Twitter handles to keep up to date.