Average Spending money for a month

Freaksta said:
I budget approx R4000 per month for food, petrol and entertainment(split fairly evenly with my girlfriend). Another R1000 for set debit orders, Internet, cellphone, gap cover etc.

The rest gets diverted to savings pocket and majority gets invested, from time to time I buy "****" with it. Had a bad end of year spree with a few unneeded purchases(anyone looking for an 8" windows tablet, got maybe 24 hours of use on it?).
Click to expand...

:D
 
I've only ever done a monthly budget, but a weekly one is not a bad idea. I think I'm going to try that, it might help with my unplanned splurges.
 
SaoirseB said:
I've only ever done a monthly budget, but a weekly one is not a bad idea. I think I'm going to try that, it might help with my unplanned splurges.
Click to expand...

Yearly budget, split over months, with planned expenditure and savings. I've been doing this any tracking my expenses for 10 years now. Interesting to see salary increases and the fact that inflation is about 10% p.a. for the past 5 years.
 
creeper said:
Interesting to see salary increases and the fact that inflation is about 10% p.a. for the past 5 years.
Click to expand...

StatsSA should use your data.
I've been getting inflation related increases for the past 7 years and 2014 was the toughest year for me so far.
2015?! Eish! :cry:
 
Paul_S said:
StatsSA should use your data.
I've been getting inflation related increases for the past 7 years and 2014 was the toughest year for me so far.
2015?! Eish! :cry:
Click to expand...

Unfortunately it doesn't work that way. The inflation I calculated is applicable to me, based on my 'basket'. Not to the general population. What I do know is that poor people and middle class are more severely impacted by inflation than the rich. The poor may have an inflation of 16-20% if someone is willing to analyse their basket, which consists mostly of food and transportation.
 
creeper said:
Yearly budget, split over months, with planned expenditure and savings. I've been doing this any tracking my expenses for 10 years now. Interesting to see salary increases and the fact that inflation is about 10% p.a. for the past 5 years.
Click to expand...

How would a yearly budget work? You get paid monthly though right? Benefits of doing it this way? :)
 
creeper said:
Unfortunately it doesn't work that way. The inflation I calculated is applicable to me, based on my 'basket'. Not to the general population. What I do know is that poor people and middle class are more severely impacted by inflation than the rich. The poor may have an inflation of 16-20% if someone is willing to analyse their basket, which consists mostly of food and transportation.
Click to expand...

Yeah I know but seeing as the middle class is carrying the country on it's shoulders, maybe those CPI basket weighting needs to be looked at.
If the middle class folds, the country folds.
 
Deadmanza said:
How would a yearly budget work? You get paid monthly though right? Benefits of doing it this way? :)
Click to expand...

Yearly budget is the summary of my monthly budgets. But there are expenditures eg house renovations, holidays etc that you might not know exactly when you will incur it., which is seen as extraordinary expenses and not factored into the monthly budgets. Helps to see if you will break even or save this year

I also use yearly budgets to determine scenarios eg if you want to buy a new car, have a child, new job etc.
 
Paul_S said:
Yeah I know but seeing as the middle class is carrying the country on it's shoulders, maybe those CPI basket weighting needs to be looked at.
If the middle class folds, the country folds.
Click to expand...

Then you will have to include the hidden tax like medical fund, security. Etc. think about how the number would look like then
 
creeper said:
Yearly budget, split over months, with planned expenditure and savings. I've been doing this any tracking my expenses for 10 years now. Interesting to see salary increases and the fact that inflation is about 10% p.a. for the past 5 years.
Click to expand...

I also do this. But mine is for a year and half.
 
creeper said:
Yearly budget is the summary of my monthly budgets. But there are expenditures eg house renovations, holidays etc that you might not know exactly when you will incur it., which is seen as extraordinary expenses and not factored into the monthly budgets. Helps to see if you will break even or save this year

I also use yearly budgets to determine scenarios eg if you want to buy a new car, have a child, new job etc.
Click to expand...

This.

Your salary is monthly, but you do have expenses that are set like municipal rates, life insurance, bond etc.. Then you have expenses that are not set, but you can gauge a rough estimate, by tracking your spending like groceries. I would give you a snapshot of my budget template so you could get an idea if you want to start one, but I can only add images from urls. It's very similar to the one found here: Example Budget
 
SaoirseB said:
This.

Your salary is monthly, but you do have expenses that are set like municipal rates, life insurance, bond etc.. Then you have expenses that are not set, but you can gauge a rough estimate, by tracking your spending like groceries. I would give you a snapshot of my budget template so you could get an idea if you want to start one, but I can only add images from urls. It's very similar to the one found here: Example Budget
Click to expand...

Brilliant thanks will have a look at the example :) makes more sense now.
 
SaoirseB said:
This.

Your salary is monthly, but you do have expenses that are set like municipal rates, life insurance, bond etc.. Then you have expenses that are not set, but you can gauge a rough estimate, by tracking your spending like groceries. I would give you a snapshot of my budget template so you could get an idea if you want to start one, but I can only add images from urls. It's very similar to the one found here: Example Budget
Click to expand...

Nice template. Like the division between budgeted and Actual amounts.
Something I need to add to my template.
 
15-20% of net is left over after paying for all the must haves (and budgeting for annual things like vehicle services)
 
Pho3nix said:
Nice template. Like the division between budgeted and Actual amounts.
Something I need to add to my template.
Click to expand...

Yes :) With mine, I've frozen the first column and have the other columns across for each month for a year and half. And at the bottom I have my total income - total deductibles. The balance just underneath that is a running total of my savings.
 
Don't budget for 'spending money'. Just can't really afford it atm. I am saving up for a new sewing machine though, if that counts.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X