hastalavista
Registered User
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Having done the household budget in the spreadsheet for a family who are friends of mine, the question I have been asked is how will it work in practice from a monthly cash allocation perspective.
Today is the first monthly payday so the question being asked is where does the monthly 'set aside' go.
The numbers are pretty tight 3,100 in and 2,900 is the monthly out.
This 2,900 includes 100 a month for insurance which was paid in one lump sum [1,200] on 3rd August, funded by overdraft.
My proposal i to use a new bank account and put 2,900 into it and then keep track of spend from there by budget heading.
However the house insurance is up in October and they want to avoid paying the increased cost of 10 monthly payments.
This begs the question how to provide for such annual payments.
Thanks
Today is the first monthly payday so the question being asked is where does the monthly 'set aside' go.
The numbers are pretty tight 3,100 in and 2,900 is the monthly out.
This 2,900 includes 100 a month for insurance which was paid in one lump sum [1,200] on 3rd August, funded by overdraft.
My proposal i to use a new bank account and put 2,900 into it and then keep track of spend from there by budget heading.
However the house insurance is up in October and they want to avoid paying the increased cost of 10 monthly payments.
This begs the question how to provide for such annual payments.
Thanks