I have discovered something new about money. If you divide it up and give someone ownership then it doesn't disappear so quickly!
Since Christmas we are trying something different. I am control of my salary, child benefit, the old chaps 2nd salary (which is hugely variable) and house-keeping contribution from Ahdel. From this I must pay all of th bills and any mortgage over-payments that I can. The petrol and other travel expenses, food and groceries.Anything left over goes to the holiday fund. We use a joint account into which everything goes. We don't use jam jars or envelopes, just analyse spend at the end of the month to make sure we haven't strayed and to help re-enforce sensible habits.
The old chap gets control of money from his 1st job. This finances our property investments but also helps out with major car repairs and misc, ad hoc expenses. I don't really have much to do with this area unless he asks for my thoughts so this suits us both. If all goes well we should get income from here eventually to repay the mortgage early.
Other income, quidco, ebay, mileage and expenses goes to the holiday fund.
You're so organised. I got myself organised last year but it all went out of the window around Christmas time. The baby on the way is much of the reason but there have just been too many other unexpected expenses. I've managed to not go into my overdraft though so things could be worse :-)
ReplyDeleteThese are all things I do to hide from myself the fact that I am not organised!
ReplyDeleteCongratulations for the new baby by the way.
Lizzie
Hi Lizzie - am wondering how to go about contacting you re your friend with Arthritis. Do you get a notification email if I post a comment? Also - I see you are a south coast lady! Me too!
ReplyDeleteHello Lizzie
ReplyDeleteSeems ages since I came to visit - looks like you have a good system arranged that certainly works for your family. Even if you only manage to put a little in there I feel a holiday fund is a necessity these days lol
Take care
Cathy