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:
The total above is less than 50% of our net income (just!). The other 50% is being put towards Financial Independence.
ACCOUNT SET UP:
EVERYTHING ELSE FUND
EMERGENCY FUND (TAX FREE SAVINGS ACCOUNT)
- 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