How To Budget A Low & Variable Income
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- Опубликовано: 31 дек 2022
- We enter 2023 with a proper budget. I explain our actual numbers and thoughts on the process.
Frugal Queen in France
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We are a British couple living in Brittany on a budget.
Frugal recipes, days out, home renovations and day to day making do in France.
We’ll give you hints, tips, advice and an insight into our life in France.
Website www.frugalqueeninfrance.com/
FaceBook / frugalqueeni. .
Instagram / frugalqueen. .
Twitter / batt_jane
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Editing : iMovie on a Mac mini
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I'm retiring nearly 2 years earlier than I had planned to. In less than 2 weeks!!! Going to take a big cut in income but I don't care. The stress has been increasing at work and I don't want to live like that anymore. Social security won't kick in until I turn 62 but am lucky my employer gives us a supplement that is a little over half the estimate of SS. My income will plumment but I think I'll do okay. I mostly eat out of my garden from Summer through late Fall so that will help. I also don't need a lot to make me happy. Thanks for all the videos and Happy New Year!
Thanks for watching and commenting
@@pmh8427 that’s very difficult. We planned our retirement carefully and were debt and mortgage free long before retirement, good luck with your journey
From personal experience, you will not regret it!
I “practiced” my retirement income for about 6 months before I retired. It helped me adjust my spending and increase my nest egg for the emergencies.
@@carolynm9798 thats a really great idea!
Jane I was a single parent eith 3 in college at once. I worked 3 jobs and did not have a day off for 2 years. I continue to think god for good health and the ability to work. I was able to pay cash for 3 years tuition for each of my kids. They had scholarships and part time jobs which paid for books ,gas, and activities. All of the kids 50,47 45 are on budgets to this day. 2 have paid off homes and 1 will have hers paid soon. At the time they thought we were poor...nope lived on a budget!!!!
Thanks very much for watching and sharing
Thank you so much Jane for all your amazing advice! You have truly changed my life! I was broke and homeless two years ago and it has taken two years to overcome my fear of money. I've now been able to look at my statement and opened an account to start saving! Thank you for everything you do! ❤❤❤
Thanks so much for your feedback
First time ever, I've set up sinking funds to plan for known upcoming expenditures... Thanks for the inspiration!
You’re welcome and thanks very much for sharing
I have directed two young people just now out on their own to your channel, because you are such an excellent teacher in making a small budget work. Thanks for sharing this information in a useful format. Best of 2023 to you both.
Thanks very much Bri and Happy New Year to you too.
Sorry Jane, I skipped one lot of adverts because one was over 25 mins long, which surely isn't on as an advert.
No worries. Thanks for watching
I'm working on my budget today. Plan to pay off mortgage in 3 years or less. By mid-March, I'll have no debt, but Mortgage, which I'm putting extra each month on principle.
Great to hear that. You’re doing so well.
Wish you and Mike a happy healthy frugal and fullfilling 2023
Thanks
I’m very blessed, I began saving for retirement in my 20’s with the goal of retirement at age 45 to 50. That’s when my children would have finished medical and law schools (or age 26) whichever was earlier. I have a fixed retirement income of just over $5000.00 USD per month. I CAN get a job and not get taxed if it’s less then $1000.00 USD per month. I’m glad I planned very young as I was forced into medical retirement at age 40. Because of my well oiled plan and I had the savings for my children’s college tuition already saved, it wasn’t as stressful on me if I had nothing saved. I learned these habits from generations of my family living this way. It is a choice to plan and spend this way. It is doable and once it is a habit, the stress just goes away. I’m sure my grandchildren may look back and wonder how I made it on this income, but when I do inflation tests on my Grandparents and Parents budgets and income, it’s about even.
Thanks for sharing
Wish I had been as wise as you. Although I didn’t have debt except a mortgage I didn’t have much in the line of long term savings or retirement savings in my 20’s and 30’ at 38 I started to train in a job that offered me a pension and I opted in. I did always work and paid into the uk state pension through my compulsory national insurance which is a percentage of your earnings. As time went on I started to save additional retirement funds. I also started to plan for my retirement but I had a lot of catching up to do.
Wish I started earlier but I make 1,500.00 a month but I do live frugally so I have a nice living
Today is budget setting day for us, so in between football 🏈 games, New Year's snacks, and the budget, it's a full day. HAPPY NEW YEAR!!! 🥳
🎉
What a fantastic video! I loved seeing the breakdown and the expenses specific to France. I am in Nebraska, USA. Very interesting! ❤
Thanks very much
Happy New Year to you all! Here's wishing blessings and steady minds for us all in 2023. Don't panic, plan is my motto for this year.
Great motto.
Thank you for all of your advice. My husband & I are also early retirees, debt & morgage free. We have always had to be frugal but with the prices going up on everything, we are having to tighten our budget even more. Your channel has been such an encouragement!
You are so welcome!
Love your channel and looking forward to more videos in 2023! Cheers!
Thank you! You too!
2023 will be a no spend year except for repairs to the roof and catching up with friends (£40) a month budgeted for and flights to france(ryan air) bi monthly and under £50 return . Your health service is amazing ! My french fiance had pains in his chest tonight, the ambulance crew were here witin 10 minutes and there were 3 in the crew. They took all the tests then called for a doctor. A team of 3 doctors were here within 30 minutes, gave a full ecg, inserted a canula and administered morphine before taking him to hospital. 2 hours later they had put a stent into 1 artery. He’ll be in for 5 days i have to return to the uk on the 6th day for hospital appointments . Here on my own looking after the house and cat, can’t speak french and wondering how the hell i will change my nephrostomy bag on my own as district nurses or my fiance do it ! I agree with you that time is more important than stuff.. when faced with a terminal illness wverything falls into place. This week will be a challenge but i will find a way to overcome it and if i can do this then i can damn well continue to learn from your vlogs and put everything into practice :)
Thanks for sharing
Amazing how prices differ from here in the US…..phone, internet, health insurance, property taxes are so much higher here! We are 58 and 65, we own free and clear an 80 acre alfalfa farm, and our property taxes alone are $400/pm. That’s with an ag exemption and a pretty low property tax state. Property insurance is another $200/pm! Vehicle (and farm equipment) and medical insurance is another $1000/pm. I just love your channel!
Thanks very much
Jane, you're so right; time with You're Family,is so much more important.👍 I Wish I could stay at Home too. My sons are still at Home, and I know,they will fly away in the Future.
So enjoying every Minute with them.
Thanks Marianne
I am fascinated with the concept of a No Spend Month. I may dip my toe in the water with a No Spend Week. Thank you for the video! Have a fabulous 2023!
Thanks very much for watching
Thank you for showing us your budget so clearly written out in a simple format, and large enough for us to read. I found this video extremely helpful!
Thanks very much for watching
As an American, I could cry at how much we have to spend for health insurance compared to yours!
Yep, you’re absolutely stuffed. Your healthcare is a multi billion money maker, ours is at cost.
If Americans were to have another revolt it should be over the scandalous healthcare industry they have.
I love your videos. I have recommitted to staying within my budget for 2023. I wrote in an earlier video about the "why" to save and it occurred to me watching this video is that what I meant was not funding the sinking or emergency funds as this is something I've done since I was first put on a clothing allowance and started babysitting at age 11 (I saved enough to send my parents on an all-inclusive holiday to the Bahamas when I was 16 for their 20th wedding anniversary), but I was thinking of the lack of knowlege around "accumulating wealth" -- or long term savings. I would definitely tell my younger me to pay myself first --exactly what you said at the very beginning of this video! Thanks for all the wonderful information you provide.
Thanks very much for watching
Thank you so much for opening up to all of us. Great help
Thanks very much
With regard to planting a mixed hedge on your boundary, I seem to remember that there was a scheme in France, whereby landowners could obtain bare root plants free or at a reduced rate. It may be worth asking at your Mairie to see if this scheme would be available to you, especially with raised awareness in biodiversity and climate change.
No such thing here. Often such initiatives come and go.
Thank you for sharing your income and expenses. It helps me put my budgeting in perspective.
You’re welcome
Cheers to a new year of fresh starts and new adventures. We enjoy the simple slow living life and being together. Never give up. Our rising funds are in CD'S, Money Markets, Crypto. Stocks, Bonds, Brokerage, Savings. We tell our money where to go. Thank You for the wonderful videos. You are doing excellent.
Thanks for the real numbers explanation of your budget, it was really helpful. I can better get a grasp on elements of your content.
Oh!
And Happy New Year.
You’re welcome
Thank you Jane and Happy New Year. 😍
Thank you so much for your videos. They have really helped my husband and I with budgeting through the years..also your blog back in the day! You and Mike have a beautiful home and garden. What a pair of workers you are! Many blessings to you both. Michelle from Texas
Thanks very much
My husbands income is fixed, but mine is extremely variable, and there are definitely feast or famine months… 😅 Enjoyed watching this video (and your others!) thanks for sharing!
As you saw, ours is equally feast or famine. Our good months are no spend months and we put the money away.
Thanks Jane and Mike. Currently doing my first ever budget thanks to you guys and the lessons I’m learning while following your channel. Happy new year to you both and continued success with your channel ❤️
Good luck, it gets easier
Happy New Year to you and your family.
Thank you for sharing! Good stuff
Another great video. Thank you!
Great share, Jane. Happy New Year 🎆
Happy new year you two!!!
Thanks very much
Thank you both so much for always being transparent and thoughtful to share this personal information with us!
Nice set up, you are really good with money, to stretch it into all these categories. 👍We got a very nice Christmas Present this year, the municipality and an internet fiber provider is working together to give us here on this mountain hamlet, fiber internet within October of this year. Now we have poor or no mobile phone reception and a slow radiolink internet, in the evenings it is very slow, as more people are home using the internet. Fiber and internet speed comes at a cost of course. We need to dig a pipe for the fiber cable from the house down to the connection of the line, and then there is a connection start up fee of about £800. Monthly will be around £100 for the first year, (including a tv package) then you can downgrade the speed, and cancel the channels, if you decide to. This is fantastic news, I guess it will increase the value of the properties, as people now can work from home. (During covid, students had to go to school here, due to the poor internet service, and my neighbours and I were at work every day, no possibilities to work from home) So to not be surprised with that big bill in the month of Oct, I have to do a sinking fund for it. 😊
Thanks very much for watching and sharing your feedback
👍👍👍
Thank you really helpful as aways. Happy New year
Thanks very much
❤️
Thanks for another great video!
Thanks for watching
Happy New Year!
Thanks very much
Thank you for sharing! I think it's so fascinating to see how other people live. It's also very eye opening! I am so amazed how much more we Americans pay for almost everything. I didn't realize that we paid so much more for food than Europe does, even before inflation. I think our salaries are higher, but it's probably a wash with our increased costs.The world knows about our for-outlandish-profit medical and university systems. But our taxes, property taxes, insurance, internet, and cell phones are SIGNIFICANTLY higher as well. We are debt and mortgage free too but are still working. Inflation hurts everyone!
Thanks very much for your feedback
Thank you Jane. This was very informative and has urged me to do this and get things in place as soon as. Wishing you both a very happy and peaceful new year. Xx
Thanks very much
Hi Jane and Mike...so enjoy watching your videos ...always learn something from them. Happy New Year!
Thanks so much
Loved this episode. So helpful.
Happy to help
Great video 🥰helps me with my budget 💜
You’re welcome
Thanks for sharing . I learn a lot from you.
You’re welcome
Excellent video 🙂You've inspired me to get organised & do my own budget. Thank you & Happy New Year to you both x
So glad!
Happy New Year 🥳 Jane & Mike.Thanks for sharing.It was really helpful.I write everything down from a to do list to my budget & it was very interesting to see yours too.I’m looking into,making my dog food as I already half do it already.I definitely don’t take eggs for granted anymore & seem to enjoy my egg salad more xxx
Thanks so much
Thank you for the wonderful information and useful cooking tips all last year.
You’re welcome
I have figured out my budget for 2023 after getting the figures for SS increase in Jan. I have budgeted a little extra for each category. Gasoline has went down the last few months so that is a help. I love a frugal life and It has paid off. I have a pet,wanted to adopt one more but pet food this year has increased about 22 percent so with the possibility of vet bills did not think that would be wise. God has helped me souch over the years, even with a humble income all is well, you are an encouragement to many people I'm sure, thank you.
Thanks very much
As always Jane you have explained your budget in such detail,but, you make it so easy to understand, Thank you and Michael for your time.
Thanks very much for watching
A very happy new year to you both! No spend months are great, for saving💰, for being creative🤔 and being content😊. And have a good nightrest😴
Thanks very much
Brilliant! Super clear and useful.. you can tell you were a teacher 😊
Thanks so much
Thankyou very much for sharing, you’re very transparent with your finances. It’s really helpful. Have a happy 2023. Your channel is brilliant.
Thanks for watching
Love your channel
Thanks very much
Happy New Year from 🇨🇦
Happy New Year to you both. Great explanation of living with a feast or famine income. For years my husband was self employed and like you it was feast or famine. Some months he earned nothing or was waiting for people to pay him. On a good month I filled the freezer and pantry. Paid extra payments in advance on our monthly bills. Kept extra money in the business account to pay business expenses during months with no money coming in. I had a bare bones budget that we lived by that included thing that had to be paid no matter what but there were months that really were no spend months because there was no money. We lived out of the pantry/ freezer and hoped money came in before the stocks ran dry.
I stock up in good months
Thanks for the share! I find budgets of others so interesting, even more so when they are lower and variable like mine. Good to see how others handle that.
Thanks for watching!
Commenting for the algorithm. Have a great week
Thanks very much for your support
Thank you for sharing your budget. Hubby and I retired a couple of years ago for the same reasons as you and Mike - time is more important than money. We actually have a better quality of life with less money as we have followed many of your guidelines for budgeting. Here in Australia health, car and house insurances are ridiculously high as is the cost of living in general. Many people moan about the age pension, but is actually enough to live on if you live within your means and budget.
Thanks for watching
I set up a sinking fund in addition to long term savings in December to start the new year off, thank you for explanation. I already feel more secure.
Good to hear that
Thank you 💖 😊 for sharing frugal queen 👸 voice of a angle ❤ heart of gold 👸 🤗🥰🙂❤💛🤗merry Xmas lov ❤ from UK happy new year🙂🥰🙂❤💛💛❤💖🧡💛💚💙💜
Thanks very much
Hi Jane and Mike, yet again another super informative video. I don't even know any close friend or family member we have, who would be so open about their income or spending/savings. Wow! Thank you for being so honest and open. I wish we had had this information sooner to mirror. We have used a budget for many years but it took a long time to get in right and my husband was in finance.:) It is still a work in progress even now, life changes! This will help a lot of people I am sure. We found it difficult to guesstimate certain outgoings, not a clue at all sometimes. We had no idea what we spent. The problem was, there was money coming in in abundance so we could spend easily, but the money was all gone at the end of the month and we had no idea where t went to...... That. was when we decided to budget. One thing your message shows is that you have to be honest with yourself (and each other) about our outgoings, not just the fixed stuff. We also went through:: if we spend less on this (as in wishful thinking) we can budget this and this. That idea worked like with New Years resolutions........... did not work after a month or so. Reading this back, it seems we were very immature finance wise.The French system sounds a lot like the Dutch one as to tax and health.Thanks again. M.
Thanks very much
😊
Thankyou once again. Currently trying to decide whether to use a budget book or a spreadsheet on the computer. I think a book might be more readily available.
Thanks very much for watching
Thanks Jane, another informative and helpful video. Happy New Year to you and MIke from the US. I have a question regarding your social charge adjustment and what is being taxed. Is it your pension? It it RUclips? How is the amount figured? This is in addition to the 22% social charge, correct? I know you said if you do not live in France it is difficult to understand, but we are thinking about our retirement and this information would be very welcome. We are attempting to figure out all of the taxes that are necessary to pay and your videos are helping us enormously. Thanks again for opening up your budget to all of us.
If you’re thinking of living in France, the French government immigration site has all the information you need.
@@FrugalQueeninFrance Thanks Jane. Is that where you gained all of your expertise? Thanks again!
Yes, my husband was in the Canadian military, so he gets a pension monthly.
Thanks very much, lots of people don’t understand.
That sounds like a sensible and doable budget if you do not have too many emergencies. You evan have that covered if the emergency is not too costly. I like the way that you emphasize commitment to the budget commitment which has to be a vital part of the deal. You two put a lot of "grunt" labor into the plan to make it work. I am curious how your wood supply is holding out. Do you also cut wood in the winter. Thank you for this video.
What do you define as an emergency? We have a fully funded 12 month emergency fund. We have five years wood on the property and a years worth cut and split.
@@FrugalQueeninFrance I mean a devastating emergency like funeral expenses for someone or parents' expensiies in nursing home. Grim, but it happens. In general, you are quite spot on.
It is interesting to see how different expenses are between France and the US. Do you track your sinking funds for each item or just as a total? What happens when you go over the amount you have allocated? My last vet bill was over $200 more than I had saved for it. Luckily I put it on a no interest credit card for 6 mos and I've worked a couple of extra shifts to cover it. Thank you for what you do to help all of us during this challenging time.
We track each sinking fund on paper. We’ve never gone over our allocations yet. Thanks for watching.
You also mentioned in the video that if a bill was more than your sinking fund then you would take the extra from your long term savings account. Proof of the value of different kinds of savings and definitely better than having to use credit!
Another great video! I also live in Brittany, I have been here since 2004. I am also an early « retiree » I stopped this year at 26. Love watching your videos to find more ways to save
I would also advise you to get a propriété privée sign, we have hedges and it doesn’t stop people coming to pick our fruits (I wouldn’t mind if they ask, I’m not so fond on them doing it behind our backs).
I would like to know how much you pay for your 4g internet? We can’t get adsl or fibre here, so we have a sfr 4g box (it’s rubbish) and it’s 35€ a month. Would like to find a cheaper option
Thanks, we have one.
We have Bouygues 4G and it’s appalling. For 50€ get starlink
Hi Hope everyone is having a great New Year. I have been on the phone all day talking to my utility companies, asking them if they can't give me a better rate on my services. one thing to keep in mind is that they dont want to loose you as a customer. Just keep saying thats too much when they give you a price. stick to your guns.
Thanks for sharing, can you share which country you’re in too. Thanks
Love the uploads Jane & Michael, you are right to over budget for a car as things can go wrong at any time. I budget, but even so I know this week car needs a service and Driver and Passenger windows will need sorting as one will not close when opened ( mechanic) has switched off the motor and the second one is being temperamental. Won't say what else has gone wrong this morning except; it involved down sink pipe and a lot of water. ( laughing as I type) 2023 will be a fun year if today is anything to go by. Hope 2023 is a good year for you both. (I am naughty) I let the shorter ads run but when there long... I do skip them sorry. Will do better this year for all youtubers.
We appreciate that you let any adverts roll. Thanks for your support.
Very helpful, we are a bit late with getting things written down but have all our sinking funds and fixed costs worked out. We do have some emergency savings, but our money in and money out doesn't allow for 10% LTS. Things are a bit dire in the uk especially going into winter, and it's a worry. I think we have well overestimated some costs, so hoping that will feed into end of month LTS! But have a question for you Jane, do you have a video on how to lay out your budget book? I watched a video that said each item on the sinking funds list has a page... how does that work on a monthly basis as I'd need several budget books for a whole 12 months! Am I missing the point of a budget book? 😊
I can go into that in another video. Thanks for your feedback
I do not see any allowance for dental, optical, prescriptions, pathology or hearing costs. Do these come out of the LTS account?
Also Australia is soo much more expensive and our driving distances between major centres or hospitals, so much further. My land rates are $4000 per annum alone and private health for two is $600 per month.
Food is so expensive here. 400E for everything would not be enough. I see you have Nil for socialising. Very lean times ahead. But thank you for your honesty and making me rethink how I.manage my life and meals. Let’s hope 2023 is a good one for you both and for Europe.
All the first paragraph is covered by taxation here in France. My glasses cost me nothing when I went to the shop. All prescriptions are covered . We spend nothing on socializing and ate out three times last year and that came from our food/supermarket budget. We meet with friends at home or their home.
Great video Jane and Mike! Do you have one separate account for all your sinking funds?; Also, are funds deposited separately in each of your accounts?
I meant to ask if funds are deposited automatically in each of your accounts.
One account for all sinking funds, another account for long term savings,
Just wanted to say that I love your money chat videos, especially the budgeting ones. Thank you Jane for your transparency. You have helped me in my debt free, mortgage free journey quite a lot. I am now happily early retired too!
You are so welcome!
I write out a budget each month but struggle with sinking funds. I dont budget for gifts, vacation, car maintenance etc. I guess those are sinking funds. We really don't take vacations but would like to. I feel like I just need help in restructuring our budget.
You identified the problem.
I used to read your blog when you lived in the UK, and then found your channel here on YT whilst browsing one day. I have always been good at budgeting and took early retirement at the age of 58 - some 9 years ago now. I was watching this video and a question popped into my head - do you continue to make National Insurance contributions to the UK in order to boost your state pension when you reach that age? It's just idle curiosity as I did this but a friend who took early retirement at roughly the same age didn't as she thought it was a waste of money. She inherited quite a sum of money which enabled her retirement but that has been spent so she does complain sometimes about the amount of pension she receives. My retirement came about through redundancy and taking my company pension until the state pension kicked in but as I said, I am good at budgeting and have always lived (quite well in my opinion) within my means. It helps that I really loathe all types of shopping and would rather spend my time gardening or reading (charity shopped or Christmas/birthday gifted books). I also do a bit of crafting but have more than enough "stuff" (again second-hand or gifts) to keep me busy for ages. Anyway, happy New Year.
No we don’t. I’ve made full contributions for my UK state pension at 57 so has Mike. We pay into the French system now.
Im trying to figure how to get 1 month ahead on bills, example how to get 1 month of bills saved in my sinking funds for next month😢
It took lockdowns for us to figure out that staying home, neither not spending any money for months on end really built our savings.
Will be ever see Michael?
I live in Canada. We own our House and car. Only have $ 2000 in debt. That will be gone in 2 months. If anyone is interested in reducing ttheir cost of their house, try going to your bank and ask them how you can reduce the mortgage It only cost us $60.00 every 2 weeks.
Thanks very much for sharing
What are social charges?
It’s for pensions, healthcare and social safety net if we don’t have any income or we’re too sick to work.
I usually skip the ads - do I need to let them play ?
If not, the RUclipsr doesn’t get paid. If you like a channel and you get value from
What you watch, you could be supportive by letting some roll.