Danners Posted September 11, 2013 Share Posted September 11, 2013 Hi there, been running the numbers (or trying to) and would really appreciate a view on whether I'm being aggressive enough on some of the 'bigger' items. Family of four (kids 3 and 1) with one car, modest home about 45 mins train ride from the CBD. Me = working in the city, wife = currently stay at home mum. Thoughts welcome - thanks! [TABLE=width: 402] [TR] [TD][/TD] [TD]Monthly[/TD] [/TR] [TR] [TD]HOUSING[/TD] [TD][/TD] [/TR] [TR] [TD]Mortgage/Rent[/TD] [TD]AUD 3,200[/TD] [/TR] [TR] [TD]Home Insurance[/TD] [TD]AUD 125[/TD] [/TR] [TR] [TD][/TD] [TD][/TD] [/TR] [TR] [TD]UTILITIES[/TD] [TD][/TD] [/TR] [TR] [TD]Electricity, heating, water, refuse[/TD] [TD]AUD 250[/TD] [/TR] [TR] [TD]Phone and Internet[/TD] [TD]AUD 50[/TD] [/TR] [TR] [TD]Phone mobile[/TD] [TD]AUD 80[/TD] [/TR] [TR] [TD]Cable[/TD] [TD]AUD 120[/TD] [/TR] [TR] [TD][/TD] [TD][/TD] [/TR] [TR] [TD]GROCERIES[/TD] [TD][/TD] [/TR] [TR] [TD]Groceries (food & household goods)[/TD] [TD]AUD 867[/TD] [/TR] [TR] [TD]Dining/Eating Out[/TD] [TD]AUD 433[/TD] [/TR] [TR] [TD][/TD] [TD][/TD] [/TR] [TR] [TD]TRANSPORTATION[/TD] [TD][/TD] [/TR] [TR] [TD]Car Insurance[/TD] [TD]AUD 108[/TD] [/TR] [TR] [TD]Fuel[/TD] [TD]AUD 217[/TD] [/TR] [TR] [TD]Bus/Taxi/Train Fare[/TD] [TD]AUD 520[/TD] [/TR] [TR] [TD]Registration/License[/TD] [TD]AUD 50[/TD] [/TR] [TR] [TD][/TD] [TD][/TD] [/TR] [TR] [TD]CHILDREN[/TD] [TD][/TD] [/TR] [TR] [TD]School Fees[/TD] [TD]AUD 650[/TD] [/TR] [TR] [TD][/TD] [TD][/TD] [/TR] [TR] [TD]ENTERTAINMENT[/TD] [TD][/TD] [/TR] [TR] [TD]Hobbies[/TD] [TD]AUD 500[/TD] [/TR] [/TABLE] Link to comment Share on other sites More sharing options...
Quoll Posted September 11, 2013 Share Posted September 11, 2013 You might want to add in medical expenses/private health insurance plus contents insurance (in addition to home buildings if you have a mortgage) plus perhaps income protection insurance? Add road service for the car. What about clothing? You may also want to consider a salary sacrifice into superannuation for your old age. Then add holidays on top too. I've no idea where it went but excluding mortgage/rent and paying everything off on a credit card each month, my average spend for two oldies running two cars close to the centre of a city was $5k and that was a couple of years ago (no expensive vices either just a preference for organic foods). Your groceries may be a little low IMHO but you can probably economy shop and keep it down to that. Link to comment Share on other sites More sharing options...
Danners Posted September 11, 2013 Author Share Posted September 11, 2013 You might want to add in medical expenses/private health insurance plus contents insurance (in addition to home buildings if you have a mortgage) plus perhaps income protection insurance? Add road service for the car. What about clothing? You may also want to consider a salary sacrifice into superannuation for your old age. Then add holidays on top too. I've no idea where it went but excluding mortgage/rent and paying everything off on a credit card each month, my average spend for two oldies running two cars close to the centre of a city was $5k and that was a couple of years ago (no expensive vices either just a preference for organic foods). Your groceries may be a little low IMHO but you can probably economy shop and keep it down to that. thanks, I have health through work and superannuation. But I'll up my food estimate I think, as you're not the first to suggest I might be a little low there. I'm on a 457 so no point in income protection as I'll be shipped out if things go bad! Appreciate the feedback! Link to comment Share on other sites More sharing options...
dmjg Posted September 11, 2013 Share Posted September 11, 2013 Which city? Link to comment Share on other sites More sharing options...
dmjg Posted September 11, 2013 Share Posted September 11, 2013 These are our numbers current as of Jan this year. http://www.pomsinoz.com/forum/money-finance/173796-our-budget-worksheet-victoria.html Link to comment Share on other sites More sharing options...
Danners Posted September 11, 2013 Author Share Posted September 11, 2013 These are our numbers current as of Jan this year. http://www.pomsinoz.com/forum/money-finance/173796-our-budget-worksheet-victoria.html Thank you. We are going to be in Sydney and my budget shows outgoings of 8500 (using pretty aggressive estimates) a month so looks like I'm in the right ballpark. Much appreciated Link to comment Share on other sites More sharing options...
wolvesaussie Posted September 11, 2013 Share Posted September 11, 2013 u must have expensive tastes if ur going to spend 8500 a month.. I dont think car insurance will be that much. I just got car insurance for a learner driver and myself with no claims for only $400 a year.. small car though but i bet it wuld be £1000 in the UK Link to comment Share on other sites More sharing options...
Danners Posted September 11, 2013 Author Share Posted September 11, 2013 u must have expensive tastes if ur going to spend 8500 a month.. I dont think car insurance will be that much. I just got car insurance for a learner driver and myself with no claims for only $400 a year.. small car though but i bet it wuld be £1000 in the UK Hi, I absolutely don't have expensive tastes I'm hoping I've aggressively overestimated, to be honest. For the car insurance (likely a 3-4 year old safe family car) I've tried to account for registration and everything (someone told me it's 400 on top of the fully comp insurance, or something) plus insurance for a little scooter. just realised two things. 1) I've double counted the reg fees, 2) I've grossly overestimated the train fare. Sweet, that brings it down to about 8k Link to comment Share on other sites More sharing options...
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