Thursday, June 25, 2009

Fortnightly Budget

So I got paid today! Yay! I get paid every two weeks, so this budget is obviously until I get paid again in two weeks. I know most Americans seem to be paid monthly, but in Australia, the majority of people are paid fortnightly (do you guys call is bi-weekly?). Due to the nature of my job and university (they're linked), my rent, utilities and meal fund are all non-negotiable and come straight out of my paycheck. As I can't reduce these even if I wanted to and as I never see the money, I haven't included them here. I also contribute 10% to my superannuation each fortnight which I also haven't included, again, because I don't see it.

So here goes!

Fixed Expenses

Mortgage Payment $180
Car Payment $170
Total $350

Savings

Car Fund
(to cover insurance, rego and maintenance) $70
God-Daughter's Fund
(to give to her on her 18th birthday) $5
Emergency Fund $250
Total Savings $325

Discretionary

Everything
(groceries, eating out, mobile phone etc.) $300
Graduation Bill
(paying it now to get a head start) $50
Total Discretionary $350

How does that look? Any gaps? Anything I'm spending too much on?

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