Monthly Expenses - Excessive? How's Yours?

OzFrugie on 05/03/2017 - 22:58
Last edited 08/03/2017 - 11:07

So, nothing much on this weekend and thanks to crappy Sydney weather, I decided to do some analysis on my household expenses.
The result is rather shocking to me because it is (much) higher than I thought my household spend each month.
My household consists of 2 adults + 1 toddler.

Based on my analysis (8-month worth of data), on average we spend ~$3500/month.
The figures exclude:

Child care
Accommodation (mortgage/rents)
Council rate
Health insurance
Car insurance

but includes pretty much everything else:
1. eating out (and drinks) = $570,
2. entertainment = $90,
3. clothing = $220,
4. groceries = $510,
5. transport (petrol + public transport + parking) = $270,
6. water rates = $60
7. electricity & gas = $130
8. communication = $145
9. Health/beauty = $350
10.Car maintenance = $30
11.Education = $40
12.Gift/donations = $170
13.Home repairs/improvements = $305 (had a medium job done in Dec)
14.Tools/equipments = $110
15.Cash Withdrawal = $200 (for buying stuff at markets or at places that do not accept cards)
16.etc

I'd be interested to get some ideas from fellow Ozbargainers if my average monthly spending (or any of the categories mentioned above) looks excessive or not.
If you want to share how much your household spend each month, please comment below.

P.S. Please refrain from voting if you only use your 'impression' to judge whether it is excessive or not and/or don't have idea how much approx you spend monthly (as close as apple vs apple comparison as possible) to keep the result as objective as possible.

UPDATED 8/3 more categories added

Cheers

Poll Options

217
Yes - Excessive!
121
No - About right
44
No - Below my monthly household spending

Financial

Comments

HoneyComb on 06/03/2017 - 18:07

Mine

Single with no children

Everything you listed

Food, electricity, phone and entertainment = $1200 p/m for me.

excludes rent/mortage
- Kangal on 07/03/2017 - 00:16
  
  Me; 1 Ad 0 Ch.
  
  Rent: $1,150
  Food: ?
  Electricity: $40
  Water: $1
  
  Petrol: $40
  Travel: $10
  Insurance: $35
  
  Internet: $59
  Phone: $35
  Misc Shopping: $80
  
  Total: ~$1,450 + Food (monthly)
  Income: ~$3,450
  Net: ~ +$2,000 (minus food)
  
  I should be saving around $24,000 yearly.
  But I also spend an additional ~$2,000 yearly on other crep
  So it should be closer to $22,000 - (minus) food.
  Since I'm actually closer to saving like $14,000 … does it really mean I eat like Sluggathor?
  I mean $8,000 in food seems excessive for me, despite my 85kg size : \
  
  (Have all other expenses paid for furniture, car, technology, clothing and knick knacks)
  - doodo477 on 09/03/2017 - 03:53
    
    +4
    
    Single income, with stay at home mum, and two kids 2, 4.
    
    Break down of Revenue/Expenses Per Month.
    
    Income Wage $7,064 FTB A/B $780 Expenses Tax $1,723 Rent/House Re $1,387 Food $867 Power $314 Internet $85 Car $408 Health $393
    
    Break down for every dollar
    Tax 22%
    Savings 35%
    Other Expenses 44%
    
    Save about $33K per year.
ShortyX on 06/03/2017 - 20:52

+2

$510 a month on groceries is pretty low - well done!

You should look into YNAB and track every transaction on the go. It does help somewhat in sticking to a budget but you can 'roll with the punches' as well.
- OzFrugie on 06/03/2017 - 23:56
  
  Thanks. Actual figure will be higher though since if we shop at the market or Asian groceries for example, we use cash.
  So prob, ~$600 more accurate.
  
  I'll check out YNAB, looks interesting, thx
- Rocket6 on 07/03/2017 - 16:01
  
  Agree with Stix, your monthly shop spend seems very reasonable.
  
  My partner and I would be well and truly above that - in saying that, we live quite nicely.
- myfuturej on 08/03/2017 - 15:45
  
  I agree, $510-$600 is extremely low for groceries. But what is happening here is you are eating out and using taking away so much, and splurging on what could be unnecessary items when you should actually be grocery shopping more. For instance, you can actually get can actually get cheap and ready-made meals, clothing and health and beauty products (and gifts) from Aldi. We are a family of 4 (sometimes 5) and our grocery month costs us less than $1100 month. But that includes those things mentioned.
russkeys on 06/03/2017 - 20:59

+3

Great post OzFrugie. Really appreciate your honesty. It's good to get a feel for what others are doing.

Do you or anyone else have any good spreadsheet ideas, or templates for this kind of data collection?

I have just read The Barefoot Investors book, and think there is some very practical advice on savings, pocket money and expense management.
- OzFrugie on 07/03/2017 - 00:12
  
  I just do a basic one from scratch in Excel, nothing fancy.
  1. Export the transactions from your bank account (csv)
  2. Convert to Excel file
  3. Categorise each transactions
  4. Pivot table
  5. Voila!
JimB on 06/03/2017 - 21:19

+2

I get excited when my monthly credit card bill is under $5k.

Median is about $7k in the past year.

We have 2 toddlers. Childcare/preschool is about $1k per month.

Not sure why it's so high, we don't spend extravagantly. No foxtel, gym, etc.

We do take the kids out quite a bit. Come to think of it, kids are bloody expensive.

At least we don't have any non-housing debt.
- OzFrugie on 06/03/2017 - 23:59
  
  Hear hear.. Childcare cost is a killer!
- Pumpkin_rrr on 07/03/2017 - 09:30
  
  Time to spreadsheet yr expense JB!
  - JimB on 07/03/2017 - 12:52
    
    When I look at the credit card itemised expenses, I go 'yup, need that, yup can't help that…'.
    
    All adds up unfortunately but can't do much about it.
    
    Wife works so financially we're ok. We have 26 years of private school fees to look forward to, so will be forced to look at our budget in future.
    - OzFrugie on 08/03/2017 - 13:10
      
      You have a choice to go to public schools :) What's the reason of you decide to send your kids to private schools esp. since primary school?
      I will have this decision to make in the future as well..
    - JimB on 08/03/2017 - 17:42
      
      @OzFrugie:
      
      Why not public? Because I went to public school, prep to year 12 :)
      
      Reason for private? Mainly their peers and the other parents who have a keen interest in their kid's education. Of course the academic results are fantastic that not the sole reason.
      Also, the school we are sending them is co-ed and small and they will stay in the same campus 3yo to Year 12. The fees are cheaper than the elite private schools, but academic results are better. The high school students seem happy, confident and mature.
      
      In primary, there is 1 class per year level.
      
      There are good public primary schools in my area. Unfortunately because they are good, they have 800 kids attending in the primary school. I don't want my kids to be lost in the system.
      
      If I don't send them to private primary, it's unlikely they will accepted into year 7. In year 7 there are approximately 80 students. Say 20 will come from existing year 6 students. That means there are 60 new places in year 7. There are approximately 400 students wishing to enrol for high school each year. So I'm sending them to private primary to guarantee entry to high school.
      
      In the meantime, I drive a 10 year old car. The sacrifices one makes.
    - neostarsx on 09/03/2017 - 11:43
      
      @JB1:
      
      Good on you caring for you kids.
      But imo waste of money unless you are rich.
      Keep the cash from private school fees and but in their bank account to help buy their first house.
      Private school does not guarantee a good job.
      Many public school students have excellent jobs.
    - JimB on 09/03/2017 - 16:04
      
      @neostarsx:
      
      Definitely not rich unfortunately but I see the value of a good education and opportunities that it provides.
      
      "Private school does not guarantee a good job.
      Many public school students have excellent jobs."
      
      I agree with your statement there. However it doesn't also take into account that private school students are more likely to get into uni, which in turn gives them a greater opportunity to get a 'good' job.
      
      I think I did ok in the public system. Got into a good uni and have a fairly good job. But I wish to give my kids the best opportunities I we never had, one of which is private schooling.
      
      I'm in Melbourne, so unlike Sydney, we have very very few selective entry schools.
      
      By far the biggest factors on how your kids turn out are their parents and peers. Would I want them to hang around typical public school student or the private school student? I've seen both and I'm definitely not a snob. However growing up in a lower socioeconomic area/school, I've see the disadvantages of the public school system.
      
      The good thing is that as a parent, I have a choice. Parents who send their kids to private schools shouldn't force their views that private schooling is superior, nor should parents who send their kids to public schools decry that it's a waste of money. Only parents can make that decision.
      
      In terms of buying their first house, I can go guarantor on their loans or help with their deposit. We'll cross that bridge when we get to it. In the meantime, I have my own mortgage to worry about :D
Pumpkin_rrr on 06/03/2017 - 21:56

+1

Welldone for analysing, and sharing. Frankly I haven't got much idea of my spending but all i know is I spend very little.

One thing that strikes me is your clothing $220. Thats average for 2.5 persons per month? Onw new garnent each month at least? To me that seems ezcessive especially you are now both married, haha. Suggest you work on quality,not quantity.
- OzFrugie on 06/03/2017 - 23:45
  
  To be honest, whats under clothing not 100% clothing. It includes toys, shoes, etc.
  Having little kid also doesnt help when they grow so quickly!
  Also, when I inspected my partner's transactions, anything that says Myer, DJ, Kmart, BigW etc I put it under Clothing.. so may not be 100% accurate
  - Pumpkin_rrr on 07/03/2017 - 09:26
    
    Ok that's fine. Maybe she bought pots from Myer :-)
    Still I think much can be saved under this category, esp the little ones. Time and again I see first time parent shower their kids with new shoes/clothes/bags/toys that they end up throwing them out after two use. Have a look at Gumtree, esp during Christmas time, lots of sale on new or near new kids stuff.
    When my son was small, I love those hand-me-downs. Somehow they made me feel loved because someone save these stuff for me ;-)
spriggy on 06/03/2017 - 22:17

+1

Asking whether it's excessive on ozb you know you're going to get mostly excessive answers right?
- OzFrugie on 06/03/2017 - 23:47
  
  Hahaha yeah I know, I am expecting that most answers will be Excessive. But it's good for bit of motivation so that I can look for things to cut cost on!
  
  I believe Ozbargain community is pretty diverse also though..
  From some people that use $1 mobile plan month-by-month (see above) to people that are buying unnecessary stuff just for the sake of discounts (see when Ebay deals or Eneloop deals are on).
  At the end of the spectrum, even a guy who thinks buying $80k car is an investment visit Ozbargain
  - spriggy on 06/03/2017 - 23:53
    
    That's self-fulfilling prophecy mate :D
chriise on 07/03/2017 - 00:11

+1

2 adults and 2 under 5s. Monthly spend is just under $2k. Includes everything except rent, childcare, car insurance, health insurance.
edit: also sydney
- OzFrugie on 07/03/2017 - 00:16
  
  +1
  
  Wow! Well done! That's impressive with 2kids too.
  Need to teach me a thing or two :-)
  
  Just wondering how often do you guys go out (eating out, movies, etc)? Is there a budget on that?
  - chriise on 07/03/2017 - 00:19
    
    Very little. This isn't really typical.. we are trying. Been on this budget about 6 months now and it's killing us! We cover utilities, bills, phone/tv, and commute costs. Then budget $350 a week for groceries, eating out, leisure and any other odd bits like clothing. We will usually do a family outing on Sat, with a small meal out and visit somewhere.
    Edit: I've logged every transaction going back to October. Average spend for groceries is $170 a week. Shop at flemington and asian supermarkets. Staple items from Coles.
    - tomleonhart on 08/03/2017 - 07:40
      
      +2
      
      To Be honest at <2k a month for a family of 4. It sounds like you're surviving not living but that compared to us lol.
      
      Does it include public transport?
    - chriise on 08/03/2017 - 10:37
      
      @tomleonhart: it's included in the commute costs. The 350/week is after all those fixed costs.
- ThadtheChad on 08/03/2017 - 12:33
  
  If you don't mind my asking, what would the cumulative figure come out to be (i.e. including rent, childcare, car insurance and health insurance)?
  
  I think it is a herculean effort that your family is putting, and I wish you guys all the best. :)
  - chriise on 08/03/2017 - 13:33
    
    +1
    
    about $5k, without child care which we recently stopped.
    - ThadtheChad on 08/03/2017 - 14:03
      
      Wow… that is ~3k inc rent and all the insurance stuff. Pretty impressive.
      
      Thank you very much for sharing.
      
      All the very best chriise.
    - chriise on 08/03/2017 - 14:33
      
      +1
      
      @gearhead: insurance is meh, it's the rent which kills. thanks gearhead
mataeka on 07/03/2017 - 09:16

+1

I'm in Brisbane with a similar 2+1 situation (just a 2 year old though so that may differ)

I find your takeout/restaurant excessive But I freaked out a few years back when I looked at how much I was spending and comparatively what else I was spending that amount of money on (ie My phone was cheaper or something like that).

We are being really tight with our money atm because we are smashing our mortgage down as much as possible to reduce our interest payments. So very little to no money spent on entertainment. Also bike riding where possible to reduce our transport - that said our car is a gas guzzler from last century (heh, 1998) so two petrol tanks is your monthly expenditure!

I find $50/week on clothes excessive too - But I don't follow fashion so that may be why I feel that way. Maybe look at spending more on particular items for more quality/longevity of timeless pieces?

Your electricity and gas isn't horrendous but probably could be cheaper - we pay about $200-$250/quarter - but don't use aircon ;)

And your groceries again could possibly be cheaper - but I've definitely seen worse. We spend about $50-$75 a week for 3 people. But I really spend my time shopping around as my contribution to the household. We also have a deep freezer so I can buy things in bulk on special :)
Zondor on 07/03/2017 - 10:26

Food $200
Data $150
Rent $800
Candles $3600
Utility $150

Someone who is good at the economy please help me budget this.
my family is dying
- j4ck on 07/03/2017 - 16:43
  
  +2
  
  Seems fine to me?
- brotherfranciz on 07/03/2017 - 23:06
  
  +3
  
  $3600 on candles?!
  - Zondor on 08/03/2017 - 11:16
    
    Yes, I need them
    - 4agte on 09/03/2017 - 21:23
      
      +2
      
      Adelaide blackouts are a killer
    - doodo477 on 10/03/2017 - 18:10
      
      @4agte: Those better bloody well be hemp candles!
- SwarlesBarkley on 08/03/2017 - 16:47
  
  +2
  
  Have you considered living further away from the city and using those savings on Candles?
yoonibear on 07/03/2017 - 11:24

With your utilities and phone costs - is there any way you can call them up and see if they have better deals? Ask them if they have any direct debt deals ..etc.. or ask about bill smoothing (where you pay eg. $50 per week into the bills to bring them into credit).

With clothing wise or petrol, groceries - perhaps you could ask for gift cards when others give you gifts?

Also, try pitting companies against each other for better deals (eg; company x offered me this - can you do anything better to keep my business with you)
minniethemoocher on 07/03/2017 - 11:59

+6

Looks about right to me. I don't think realistically you could cut much out of that, but it really depends on the type of lifestyle you want to maintain eg do you want the latest phone, do you want to eat out a couple of times a week or go to the movies or have an expensive cut of steak occasionally? If the answers yes then I don't think you can cut much out. Maybe you could cut down on eating out but then your grocery bills will go up. Also if you want to cut back then you also need to consider the impact that it will have on your lifestyle. Personally I would find it depressing to work all week and not be able to go out for dinner occasionally or buy a piece of clothing I like for myself or my children. I'm pretty careful with my money, but its crazy how it all adds up. Australia is an expensive place to live especially Sydney.
- ThadtheChad on 08/03/2017 - 12:41
  
  +3
  
  Absolutely agree. When we started off, we were living very frugally and were saving a lot of money (by force of habit, being povo students). We came to the realisation that while it's important to save, it is also important to enjoy the desserts of working hard and having a lifestyle that supplements your interests and keeps you happy. So we eased up a fair bit on the frugality and have what we feel is perfect balance.
  
  On a side note, I don't see a lot of folks spending money on self-education/skilling up. Personally, I feel that money spent this way, is an investment (and also a tax write-off if related to domain), and will yield much greater dividends later. Atm, I spend about $200/month on courseware/books/subs.
m0tyrider on 07/03/2017 - 12:29

Budgets….smudgets
Trying2SaveABuck on 07/03/2017 - 13:12

Probably about standard if you are including mortgage you can always save on a few dollars here and there but i'd say 3500 for 2 adults and a child is doing alright
- OzFrugie on 07/03/2017 - 13:20
  
  The figure above does not include mortgage/rent
  - Trying2SaveABuck on 07/03/2017 - 13:34
    
    my mistake i thought it included it, yea that's pretty high entertainment is probably where some cut backs need to happen
    - OzFrugie on 07/03/2017 - 13:50
      
      when you said Entertainment.. Do you mean just Entertainment or Entertainment + Eating out (from the category stated in the original post)?
      
      Because Entertainment itself only $90/month for 2 adults + 1 kid. Do you think this is excessive?
      
      On the other hand, eating out (and drinks) can be lower, I agree.
TimApple on 07/03/2017 - 13:48

$220 for clothing. Are you a guy or a girl? I don't spend more than $100 yearly for underwear, $300 for jeans, and $300 for shirts/jackets, maybe $200 for shoes. That's $75 per month.
- OzFrugie on 07/03/2017 - 13:52
  
  To be honest, whats under clothing not 100% clothing. It includes toys, shoes, etc.
  Having little kid also doesnt help when they grow so quickly!
  Also, when I inspected my partner's transactions, anything that says Myer, DJ, Kmart, BigW etc I put it under Clothing.. so may not be 100% accurate
  
  The amount for 2 adults + 1 toddler
  - TimApple on 07/03/2017 - 15:41
    
    +1
    
    Ah cool. That's more reasonable than I thought then.
pyramid on 07/03/2017 - 14:13

+1

~$3500/month excluding Rent/Insu/Child care looks excessive. Also from 1-9 , its total around ~1900 so where do you spend rest $1600 ($3500 - $1900)? 1-9 has covered almost all the extra expenses.
- OzFrugie on 08/03/2017 - 13:13
  
  Updated the original posts with added categories.
coolhead on 07/03/2017 - 15:34

you cant do much in the following categories as these are pretty much standard, altho you need to ensure you are paying minimum for last two..
Child care
Accommodation (mortgage/rents)
Council rate
Health insurance
Car insurance

However this is excessive…
1. eating out (and drinks) = $570, — way too much per month…
2. entertainment = $90,
3. clothing = $220, — is high.. if you have no/less clothes maybe ok… but after a few months this shoudl come down…
4. groceries = $510, - probably a bot high and can be reduced…
5. transport (petrol + public transport + parking) = $270, — cant help
6. water rates, — — cant help
7. electricity & gas = $130 - — cant help
8. communication = $145 should be less, if its just phones…

hope thsi helps, same family configuration as yours..
cococo on 07/03/2017 - 16:12

Interesting! I don't have a breakdown in spending, but I withdraw my spending money in cash so I know much I spend:

Per week:
Rent = $155
Spending money (includes groceries and bills) = $130
Phone bill = $10

So I guess, per month would be 4.5x this amount =

Rent = $697.50
Spending money = $585.00
Phone bill = $45.00
Total = $1 327p/m

I do also go overseas once every six months which maybe costs about $1800 for flights and say $600 spending money which adds $400p/m bring it to a total of $1 727p/m.

My amount is low as I don't have children and am in the position where I can walk everywhere so don't have a car.
- BrewerHaHa on 07/03/2017 - 16:49
  
  +1
  
  Rent that cheap!?
  
  Mind me asking where you're from?
  - cococo on 07/03/2017 - 22:49
    
    Ah, I should have specified that I am in a share house so my expenses will be completely different to a family renting a house. I am though nearing to the age where I cannot imagine being in a sharehouse for much longer! I live in Canberra.
Yarra Warrior on 07/03/2017 - 17:19

Hi,

I am with 2 Adults and 2 Kids (8yr and 6yr) based in Melbourne. I can't really say yours look a bit excessive as we do have a bit different spending but pretty close to most items.

Monthly expenses:

Main Groceries = $500
Telco/Internet = $60
Own's expense = $500 (Assumption: My own meal on lunch/dinner)
Kid's expenses = $500
Kid's courses = $400 (Max)

Weekend meals = $500 (Max)
Charity = $400
Family support = $500 (Max)
Utilities = $175
Card expense = $500
bee-l on 07/03/2017 - 17:37

+5

$3500/month for 3 people = ~$1167/person/month. I personally spend a lot less than this (~$650/month excluding rent/car insurance/medical expenses etc, but including the occasional splurge such as my new computer), but I'm a 21-yr-old student with no kids, so no, I don't think that's excessive.

If I could, I would DEFINITELY spend more. I love good food but I'm too cheap to pay for it - if you can, good for you. If fashion is important for you or your partner, and you have the money for it, then good for you, go for it (I'm very jealous). If going to the movies/concerts/gigs etc is important to you and you can afford it regularly, awesome!

Basically, there are a million and one savings tips out there, but ultimately if you're not under any financial strain and have money saved up for unexpected expenses, then who cares? You'll just enjoy your life less. If you're just aimlessly looking to cut down on your spending, it'll be hard. Decide you want to go to Europe/Africa/one of the Americas next year, and I think you'll find it easy to take on board any of the million and one savings tips and cut down on your expenses.
- OzFrugie on 07/03/2017 - 18:01
  
  +3
  
  Wise words, young man! :)
  - bee-l on 07/03/2017 - 18:27
    
    +3
    
    *woman, but thank you very much :)
    
    From reading the comments/poll results, I suspect many people are doing exactly what you asked them NOT to do, and judging by "impression" instead of totalling up their spending and realising how expensive living is. ~$270/week for utilities/food/entertainment/misc per person really isn't excessive when you have a baby and want to enjoy your life, haha.
    - OzFrugie on 07/03/2017 - 18:37
      
      +2
      
      My sincere apology, young lady.
      Ur user name made me think 'Bryan' haha..
      Yep i didnt think I spent that much either until i did the analysis..
    - bee-l on 07/03/2017 - 20:09
      
      +1
      
      @OzFrugie: No worries haha, it's not a particularly common name!!
    - Rorschach on 10/03/2017 - 16:48
      
      Member since 2015, 3 comments, and all of them on this post?
      Honoured OzFrugie, you have!
- ThadtheChad on 08/03/2017 - 12:47
  
  +1
  
  Basically, there are a million and one savings tips out there, but ultimately if you're not under any financial strain and have money saved up for unexpected expenses, then who cares? You'll just enjoy your life less. If you're just aimlessly looking to cut down on your spending, it'll be hard. Decide you want to go to Europe/Africa/one of the Americas next year, and I think you'll find it easy to take on board any of the million and one savings tips and cut down on your expenses.
  
  +1000 XP
  
  This is the crux of the matter. :)
  
  In the pursuit for min/maxing expenditures/savings a lot of folks lose sight of the end goal. It is to live life happily, without worries, and ENJOYING the journey. Money is a means to an end, it is not the end in itself. :)
  
  If there are specific financial objectives that your family needs to meet, by all means, tighten the 'collective' belt, pull out the ramen and go for it… but let it never become the way you/your family exists.
DangerNoodle on 07/03/2017 - 17:43

+1

for electricity its about finding ways to minimise costs where you can. ie. LED light bulbs nowadays use 4.5w, which is considerably less than the old 50-100w bulbs. i analysed my computer usage and found that i was only really using it for browsing nowadays, so i swapped to a shield tv console instead, which only uses 10w at full load compared to my PC which used 200w at minimum load. whilst these do have a steep initial investment, long term savings are there.

if you dont want to change your light transformer to a proper LED transformer, look for the phillips master series LEDs, they may use a bit more power at 7w, but they are a retrofit design so you wont have to change your existing halogen transformer and 7w is still significantly lower than most halogens.

Kogan can save you money on your phone bill. As for phones, take advantage of the high aussie dollar and shop from importers.

car insurance i would say shop around. SGIC quoted me $4000, just enthusiast underwriting quoted me $900. RAA will let you adjust your premiums based on your excess.

for parking, try to prebook online. Some of them will give you big discounts for booking online nowadays.

We've tried to cut down on eating out and lunches by pre cooking our week's worth of meals and freezing them. dropped our lunch costs from $300+ per week down to $110 per fortnight.
- OzFrugie on 07/03/2017 - 18:03
  
  Thanks for the advice.
  
  Just wondering re: your a week's worth of meals, what do you usually cook that you can save in the freezer/fridge?
  - DangerNoodle on 07/03/2017 - 21:56
    
    Most things are fine in the fridge. They don't taste as perfect as fresh but still pretty good. We've done shepherds pies, tuna bakes, potato bakes, pasta bakes, pastas and spaghetti, many different stir fry variants, stroganoff with pasta, chicken casserole, stews (stews can be hit or miss when frozen), various vegetables bakes.
    
    If you shop at Coles or woollies, a dodgy trick is to split your transaction into $30 sales so you can get multiple fuel (and alcohol) vouchers, which are extra savings since you're spending that money anyway.
khomeini on 07/03/2017 - 18:04

+7

If this hasn't been mentioned above I highly recommend this budget planner which is available via the Govts Moneysmart website and is free.

It really is amazing and helped us manage our expenses. It's got calculators/functions which also works on the frequency of your expenses.

Asic Moneysmart Budget Planner

Do try it.
potm on 07/03/2017 - 19:04

+1

None of your categories look too excessive but then it doesn't add up anywhere near 3.5k. Where is the other amounts going?
- OzFrugie on 08/03/2017 - 13:16
  
  Updated the original posts with added categories.
OzTightArse on 07/03/2017 - 23:56

My budget below, 2 kids with no mortgage. PERIODIC = quarterly bills/car rego etc pro-rata per month.

It comes down to $31k /yr for the family, or $7.7k/person. Jacob Fisker from 'Early retirement extreme' lives on $7k/yr so I think my budget is not too bad. Although I really don't like seeing $530/month for transport.

I started work 10 yrs ago at $56k/yr and now making $110k. Very little change of lifestyle e.g. still driving my 21yrs old wagon (which in 4 years would be in club rego!). But kids peer pressures are hard to say no, and they have iPhone etc.

Feel free to criticise :)

MONTHLY EXPENSES

Regular Bills
Phone/hp 80
Internet 59
Parents 110
Church 20
kid allowance 50
kid allowance 50
Monthly Bills subtotal 369

Transport
Toyota fuel 60
Honda fuel 100
bike 60
Oil & Service 10
Myki 300
Transport subt 530

Shopping (Cash)
Groceries & Toiletries 650
Lunch 45
Eat-out/Dinner/movie 40
Shopping subt 735

Monthly expenses subtotal 1,634

MONTHLY + PERIODIC 2,587
wanderingeyesau on 08/03/2017 - 00:36
We: 2 Ad 2 Ch (6,2)

eating out (and drinks) = $300,

entertainment = $50,

clothing = $150,

groceries = $600,

transport (petrol + public transport + parking) = $250,

water, electricity & gas = $300

communication = $300

Health insurance = $325

Car insurance = $150
donkeydoc on 08/03/2017 - 09:22

I hope youre not paying rent! you're paying off someone's mortgage! get smarter with spending, don't eat out more than once a month, groceries seems reasonable for 2 adults plus 1. I spend around $200 a month on groceries just for myself, though I meal prep everything each week.

re-evaluate everything with your partner, if he/she is on the same page with you.

everything else seems reasonable, and rent per week? you don't need more than a 2 bedroom apartment…
Untameable on 08/03/2017 - 10:18

Nope, nothing excessive. To compare:

entertainment = $90,
$60 for video games but otherwise $400 in general spending money.

clothing = $220,
$150 for me. I'm not buying this much every month. But after tracking for three years it turns out I spend about this over time, when you factor in replacing clothes and occasional big purchases like nice new work shoes and jackets and things like that. So I budget it and it gets used.

groceries = $510,
eating out (and drinks) = $570,
$800 for me. I don't separate them. We only eat out breakfast once or twice a month, and dinner - hardly ever unless it's fast food.

Health/beauty = $350
$0 for me.

communication = $145
Me too. ADSL + mobile phone.

Education = $40
Gift/donations = $170
$0 (sure I buy a book every month or so but I don't need to budget for it), and $20.

water rates = $60
$115 for me. Not sure why it's so much compared to yours. I'm in Perth and we have reticulation.

transport (petrol + public transport + parking) = $270,
$150 + $385 for parking. Public transport would cost almost as much plus 2 extra hours per day.

electricity & gas = $130
Exactly the same as mine.

Car maintenance = $30
This seems really low to me. I put aside $92 for insurance, $60 for rego, $20 for the yearly service, and $40 for a set of replacement tyres every two years or so.

Home repairs/improvements = $305 (had a medium job done in Dec)
Tools/equipments = $110
This I don't budget for, it's too random.
Haha Hihi Hoho on 08/03/2017 - 13:11

wow that is cheap, for dining out, groceries, entertainment and cleaning stuff alone would cost us 2000 dollar. a couple with a 4 months old baby here!
- OzFrugie on 08/03/2017 - 13:18
  
  +1
  
  What's cleaning stuff? As in you pay someone to clean your house?
  - Haha Hihi Hoho on 08/03/2017 - 13:22
    
    things like soaps, shampoos, deodorants, perfumes, detergents, dishwashing soaps, disinfectant, etc. We dont really go to movies as often as before, maybe once a month. i think we spent too much on brunches and take aways.
    - OzFrugie on 08/03/2017 - 13:27
      
      Oh okay, I put that under groceries or beauty/health.
      Having 4-month old baby really difficult to find time to cook I found last time.. Either dont have the time or dont have the energy or both!
ef on 08/03/2017 - 13:42
I'm in Sydney.
I was told by loan broker that CBA calculates $3500/month as expenses when looking at loan serviceability for a 2+1 family, so your most likely around average.

I calculated I was around $2800-3000/month including insurances(health + car + home + rates) excluding rent/loan and childcare.

eating out (and drinks) = $570, heaps higher than me(but all non-drinker/smoker)

entertainment = $90, similar

clothing = $220, a lot higher than me

groceries = $510, similar

transport (petrol + public transport + parking) = $270, lower than me

water rates = $60 similar

electricity & gas = $130 similar

communication = $145 a bit lower than me. I think higher comms is ok because it helps to reduce the entertainment/eating out expense.

Health/beauty = $350 a lot higher. I go for the $8-$12 haircuts in parra
10.Car maintenance = $30 lower than me
13.Home repairs/improvements = $305 (had a medium job done in Dec), a lot higher than me. You could pay someone to paint your entire house every 1-2years for that budget.
14.Tools/equipments = $110 seems a bit high unless you started with zero tools/equip in your first 1-2years in a house.
[Deactivated] on 08/03/2017 - 14:19

I'm lucky to spend $50-100 per month on personal expenses.
grr1701 on 08/03/2017 - 15:11

+2

$570 for eating and drinking out and $510 for groceries? When I had young kids, I gave up dining out except on very special occasions. You could save a motza there, if you're keen on saving money. Some of that $570 would then be transferred into additional groceries. Budgeting doesn't get any easier as the kids progress through school and into university!
Caped Baldy on 08/03/2017 - 16:23

Thanks for sharing. Are you guys seriously spending $2500 a year on clothes? I understand weddings, and the little one etc still seems high to me
Likewise for tools.

What's the rough annual salary if you don't mind sharing that as well?
aussieaubs on 08/03/2017 - 18:54

Looks spot on for me. We're at 4,500 pm with 2A/2C in vic
- OzFrugie on 08/03/2017 - 19:37
  
  Excluding what I excluded? Rent/mortgage, childcare, car insurance and health insurance?
  - aussieaubs on 13/03/2017 - 10:15
    
    sure does
whatthecrappin on 08/03/2017 - 19:15

+1

wait till private school fees kick in :( puts me in the red for 3 months and then the cycle starts again……….
oh and holidays / meals. 2 kids is like paying for another couple each time you go out. wouldnt have it any other way though - I did after all upgrade the pc for their education ;)
dtc on 08/03/2017 - 19:57

+1

keep in mind that while the OP was after the regular expenses, the expenses left out (rates, health and car insurance) and things people are frequently not including in their calculations (home insurance, medical costs, travel and holidays, home renovations) etc probably add at least another $400 - $600 per month to expenditure. Perhaps more
srr on 08/03/2017 - 22:34

$2500 for a family of 4
lunartemis on 09/03/2017 - 07:10

2+1 (single income) Our monthly is around $4k total($1600 for fixed costs - communication, insurance, utility, transport) $760 for grocery, entertainment), $1400 for rent, $250 gets put away for incidentals (maintenance,emergency funds)
phocus on 09/03/2017 - 08:58

My family also went through this process to analyse our expenditure. Little things do add up and its brought our spending right down.

We also have been trying to take a minimalism approach to life Minimalism: A Documentary About the Important Things. Seems to be a good approach to life and putting value back into things/relationships/time
drose1 on 09/03/2017 - 11:06

Very interesting to see everyone's stats.

Anyone got a good excel template that'll help me with my savings goals?

I saw a couple in this thread, but it doesn't really help with savings, just budgeting.
- lunartemis on 09/03/2017 - 17:40
  
  +1
  
  My wife and I use an app called Goodbudget which is free. You set weekly, fortnightly, or monthly target and you input every time you make purchases and syncs with the other person. It tells you whether you are on track with your spending depending on which part of your weekly cycle you are at. You can see how much more money you have left for the cycle. And if you go over your budget for one category, you can transfer from another category or go into negative and gets taken off from your next cycle.
  - OzFrugie on 09/03/2017 - 20:21
    
    Can you create custom categories or have to use built-in ones?
    - lunartemis on 09/03/2017 - 20:41
      
      You can create your own - for free, you can create up to 8 categories (I think) but with the paid version, it is unlimited and it also gives you more features, but I find the free version does the job for us
Splashtash on 09/03/2017 - 13:53

I spend $800per month as a couple without rent/mortgage.
$40 for nbn per month
This figure includes
Comms
General bills
Insurance on car
Rego
Food
Entertainment
Clothes
Fuel
So on
12 month average
- OzFrugie on 09/03/2017 - 19:37
  
  We have a winner! $800 for 2 people per month is amazing!
AliensStoleMyMoney on 09/03/2017 - 17:44

uni student here
per month
520 rent
60 for internet
45 for sim only plan
put aside 72 for rego
100 for food
40 for fuel
Cluster on 10/03/2017 - 00:45

Your largest expense is eating out/drinks, so yes, it is excessive. Restaurants and bars will of course protest, but it's a very easy area to cut down on your spending if you feel you need to save more.
Hearthstone on 10/03/2017 - 08:13

Don't worry about how much you spend
As long as money in > money out and saving

Monthly Expenses - Excessive? How's Yours?

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