Personal bugeting

Personal Budget

This week (whilst social isolating) I had a good look at my budget. I haven’t done this for a little while because it is a task that I cleverly avoid by a variety of excuses. Naturally it’s April 2020 and like most of the world, have some spare time. Many people already do know exactly where they are spending their money and it one of the critical elements of a successful life. If you don’t have s budget here’s my update where to start.

This should not be taken as financial advice etc.. I’m not going to detail my results since  that is not the point of this series of articles. Besides everyone’s situation is very different.

I began the budget process by looking at all my outgoings/expenditure of where I spend my money. Some people say should you look at how much you earn first. I say stop avoiding and start with the real deal. The end result will be your personal cost of living or the minimum amount of money you need to have to survive in 2020 for an normal year, when not social isolating. The following is what I looked at:


Body corporate fees
Home and contents insurance
Home maintenance
Home utilities – Power, water, gas

Car/motorcycle registration
Car/motorcycle insurance
Car/motorcycle maintenance – servicing, fuel etc…
Car/motorcycle parking

Health insurance
Health products – toothpaste, vitamins, prescriptions etc…
Clothing and accessories
Food at home/work, Restaurants, Cafes and takeaway.

Children – schools fees and  admin

Internet connection
Mobile/Cell Phone connection
Internet subscriptions – iCloud, Netflix, Spotify, Xbox etc…

Savings/Investments – yes you need to budget for saving too!


Club/Social memberships
Hobbies – Football, Basketball, Modelling etc…
Good will – Red Cross, WWF etc…
Lotto/Betting – if you’re into horse racing. football etc…
TV/Computers/Trendy kitchen appliances

Logically once you’ve worked out you basic cost of living you can decide on whether you can cut back or even increase spending, after all life is for actually living.

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