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what are are the financial strategies you use to manage your money better?

What are some strategies when trying to quit or cut down? What works for you?
Ben
Member
Posts: 37
Joined: Sat Apr 23, 2016 11:02 am

Re: what are are the financial strategies you use to manage

Sun Jun 12, 2016 8:21 pm

hey ang,

Sure is, comes from Rabodirect, which is an online bank. They offer 31 day, 60 day and 90 day accounts. Really is a great idea because once you transfer the money you can't access it for xx days , it's my favourite bank account :) (I'm using it to save for NZ holiday spending money)
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ang
Senior Member
Posts: 206
Joined: Thu Feb 11, 2016 7:28 pm

Re: what are are the financial strategies you use to manage

Sun Jun 12, 2016 7:39 pm

hi ben, that sounds like a good budgeting,,well done..is that 30 day notice saver just an on-line bank? as i think that sounds like a good idea as if you cant get access to your money easily then you really cant gamble....
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Ben
Member
Posts: 37
Joined: Sat Apr 23, 2016 11:02 am

Re: what are are the financial strategies you use to manage

Sun Jun 12, 2016 5:50 pm

Bringing this thread back to life as I think it is a good idea and there are some new members :)

My current strategy:
I get paid fortnightly on a Tuesday night. On Wednesday morning the following comes out automatically - Rent, Electricity, Gas, Phone/Internet, Daily expenses budget ($25 per day, goes to a prepaid debit card), health insurance, and savings. I then try not to use the account which my pay goes into.

My savings is invested in a "30 day Notice Saver" Account" (Rabobank), it essentially means that I can't touch that money for 30 days! It is a bit of an encouragement that if I lose any money from gambling, I have to wait until the next pay day or use my daily expenses prepaid card which then essentially limits any potential spending money on luxuries.

So, that's me, what are your strategies?
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AnnaB (facilitator)
Senior Member
Posts: 363
Joined: Wed Oct 24, 2012 1:15 pm

Re: what are are the financial strategies you use to manage

Sun Apr 26, 2015 5:04 pm

thanks Lizzie, sometimes its the simple strategies that work the best. Great to hear they are working for you :D
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Lizzie
Junior Member
Posts: 9
Joined: Sat Apr 25, 2015 1:00 am

Re: what are are the financial strategies you use to manage

Sun Apr 26, 2015 11:08 am

My strategies are very simple:-

No credit cards at all. I haven't had one for many years
Don't borrow money from anyone
Set my budget for what I can afford

This is a simple plan, but my headings are like this:-

Rent, Electricity, Water Rates, Land Rates, Telephone, Mobile, Food, Outings, Hair Cuts/Medication, Car Expenses, Insurances.

You can have whatever you have bills for. I also do it on excel computer program, but you can do it on paper if you don't have a computer. I also have a diary that I write in each day, I put down what I have spent on that day and where. It just gives me a better look at what life really costs. Just going to the local market to buy bread and milk is a cost.

It is a nice feeling to see what I have left over that could be spent on a holiday over time or a job that I want done around the house.

Lizzie.
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Angelina.
Senior Member
Posts: 326
Joined: Wed Oct 24, 2012 12:43 pm

RE: what are are the financial strategies you use to manage your money better?

Tue Dec 17, 2013 10:45 pm

Amanda- which bank was this?? Not helpful at all! Angelina
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AmandaB
Member
Posts: 77
Joined: Mon Dec 09, 2013 5:53 am

RE: what are are the financial strategies you use to manage your money better?

Mon Dec 09, 2013 6:08 am

I have asked banks to limit my withdrawal and they said they couldn't go under a thousand. Good to hear about Bendigo Bank.
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Angelina.
Senior Member
Posts: 326
Joined: Wed Oct 24, 2012 12:43 pm

RE: what are are the financial strategies you use to manage your money better?

Sat Sep 14, 2013 1:05 am

Hi Peter,

Didn't know this...useful info!

Warm regards,

Angelina
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peter2
Junior Member
Posts: 1
Joined: Wed Sep 11, 2013 11:41 pm

RE: what are are the financial strategies you use to manage your money better?

Thu Sep 12, 2013 12:03 am

Bendigo bank daily withdrawal limit can be set at $50 daily.
No other bank does n
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Glan
Junior Member
Posts: 3
Joined: Tue Aug 06, 2013 7:19 pm

RE: what are are the financial strategies you use to manage your money better?

Mon Aug 19, 2013 3:56 pm

I make to do list with minimum balance. Rest money deposits in account for interest. I also invest in the mutual funds and life insurance.
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