MANAGING OUR BUDGET

Welcome to our ‘How We Budget’ page. The spreadsheet below shows our planned monthly expenditure (full disclosure), and how we save on a month by month basis for annual expenses and travel.

OUR MONTHLY BUDGET:

MONTHLY BUDGET

The total above is less than 50% of our net income (just!). The other 50% is being put towards Financial Independence.

ACCOUNT SET UP:

CHECKING ACCOUNT
TRAVEL FUND
GIFT FUND
EVERYTHING ELSE FUND
EMERGENCY FUND (TAX FREE SAVINGS ACCOUNT)

NOTES:

  • The gift, travel and everything else fund are attached to the joint checking (to provide easy access)
  • Our long-term Emergency Fund’s are kept in tax-free ISA’s
  • From the checking account we pay the bills and fund our online savings accounts
  • All our automatic bill payments (Direct Debits) are set to be paid between the 25th and 1st of every month and are, where possible, the paper free kind.
  • Grocery is paid for in cash.

I hope that this covers everything, however if you have any questions at all then please ask me either in the comments or by email nomorespending (at) gmail (dot) com

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