Last week I embarked on a little project to document how I spend my money (more precisely, where does all my money go?). The results were as I expected:
- Daniel and I spend, on average, $65 a week on coffee (in cafes and takeaway). That's well over $3000 a year. If we buy a slice of cake, some banana bread or convince ourselves that breakfast/lunch is in order, we can easily spend $100+ a week ($5000+ a year) in cafes.
- A significant amount of our pay goes on groceries - but I honestly believe that I can reduce our fortnightly bill with more forethought (and possibly shopping online)
- When we run out of milk or bread the trip to the shops always results in milk, bread and a few non-essential items that happen to be on sale.
- Bills - the worst kind of mail. Our electricity payment just increased by $50 a fortnight (!) which basically cancels out the reduction on our car insurance and phone/internet bill.
- a little cottage that we can call our own...even if it's 5-10years away.
- private high school education (the public high schools in our area leave much to be desired)
- Buy a coffee machine so we can enjoy a cappuccino at home...but still go out to a cafe a couple of times a week (there's some great espresso machine and grinder advice in the comments section of this post)
- Shop with awareness - meal planning each and every week
- Make more food from scratch (I'll save this lengthy discussion for another post but I'm also mindful that making bread/biscuits/crackers/jams every week is not realistic for me right now, and that's ok)
- Grow food in the garden (currently a work in progress)
- Allocate a set amount of 'spending' money each week - and always use cash. Basically, I find it harder to spend cash. Handing over my eftpos card is easy - it's invisible money. My 'spending' cash will go on things like takeaway coffee, flowers, magazines etc
Finally....a little perspective:
- If you have food in your fridge, clothes on your back, a roof over your head and a place to sleep...you are richer than 75% of the world
- If you have money in the bank, your wallet and some spare change, you are among the top 8% of the world's wealthy - found via 4myearth