10 Ways You're Sabotaging Your Budget & Not Saving Money
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- Опубликовано: 12 сен 2024
- The top ten things that you can easily forget to budget for.
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.frugalquee...
FaceBook / frugalqueeni. .
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Twitter / batt_jane
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Apple iMovie*
I visited my friend in California. She's a quilter. The house walls are covered with quilts. During Covid-19 she made 170 quilts which she donated to charities.
Your friend is amazing! So charitable of her too.
You are the epitome of being organized and knowing budgeting.
I have to recognize that I “ loose” money just because I dont put in the effort to know all the areas where my money go and to plan them. Thank you for your teaching.
Good luck with being the change you need
Sadly the one that caught me off guard was unexpected deaths in the family. Loved ones that passed away young and their families needed help to pay the expense of the burials. I started taking $10 monthly and saving it for this.
Thanks for sharing
So true. Ten years ago my brother in law died unexpectedly at 28, leaving my sister unable to cover funeral costs and with two children under 6. His grandmother had to pay for everything 😢
My husband and I prepaid our cremations so our children will not have that expense. It was arranged through a local funeral home and the money is held by an insurance company.
Good idea
@@judimantos904 I’m not having a funeral so I’m being cremated too. I have the money put aside for this plus a bit extra to allow for price rises. Given that one company went out of business recently I’d rather just keep my money and have it there when it happens and just top it up if necessary.
I only recently discovered your channel and have been watching quite a few of your videos. I really enjoy each one of them and appreciate your friendly tone and sound advise. It's nice to "meet" likeminded people! I just retired 3 months ago (I'm 69) and need all the encouragement I can get to maintain a decent budget on a very low income. Thanks for the interesting and helpful content!
Glad you like them! Thanks so much
Every time that I am sure that I have included everything in my budget, with room to spare, something comes up that I didn't plan for. This video is a great reminder that I need to go through the past months and see what we spent in each area, and increase our savings amount in the future to cover those expenses. 😊
I started with 5 sinking funds, I now have nearer 20 as every time I got a bill I hadn’t budgeted for or Jane mentioned something I hadn’t thought of I added another. We all have to start somewhere. Some only receive small amounts each month like my passport receives £2.20 , my senior citizen discount rail card gets £1.10 but these amounts are a lot easier to find than the cost of these items all in one go.
I'm a quilter, too. I now think I'll start a sinking fund for my quilting- for backings and batting.
It's yet one more reason keeping a written budget is so important. Last year (2022) was the first time I kept (and retained) a written budget. Now this year, I can refer back to last year's budget when I do the bookkeeping at the beginning of the month, to see what kinds of non-monthly or non-routine expenses occurred in any given month. I already have far fewer unpleasant surprises this year compared to last year.
Thank you for another great video. Your channel is very motivational.
Thanks very much
Good evening! Thanks to RUclips my husband cuts my hair and I cut his. I never enjoyed spending time at the salon anyway!
That is awesome!
My sister shot up nearly twelve inches in one summer, and my mother had to keep buying her clothes and shoes - something we normally only purchased at the beginning of the school year. It nearly drove my mother crazy trying to keep her dressed!
Thank you Jane and Mike for another wonderful video. We are on a debt free journey paying down 32k of student loan debt and your money chats are so helpful and inspiring. Thank you and bless you! ❤
You can do it!
A great midweek vlog .. Wednesdays and Sundays are my faves x
Yay! Thank you!
Hello Jane. I have put out a video about pensions and how to manage. I don't do much about money saving now. I try and explain about living on a reduced income, but some people still don't get it. I will send people over to you. Keep up the good work. ilona
Thanks so much for taking the time to leave a comment.
Home repairs is a one that I'm having to look out for.
Thanks for watching
I thought I had planned for all the irregular and annual renewals but was caught by my anti-virus coverage for my computer. It is now in my Renewals sinking fund (and listed on my list of Renewals as well as my calendar with the next due date) and I will put away for next year's renewal monthly. I enjoyed this video as always. Thanks!
Sorry to hear that
Thanks so much for todays help with irregular spending, you've reminded me of several things I've forgotten to budget for. Also I love the pattern of the quilt on your sofa, the colours go so well together.
You are so welcome!
I include saving up for glasses in my Personal care budget, as well as Hair expenses.
I have more control of charitable donations now I am retired, and send donations at the beginning of the month, when I sort my sinking funds x
Thanks
My husband needed new glasses recently and OMG they were stunningly EXPENSIVE so yes, it's one to save for - I'd think hearing aids and orthotics would be in that category too. Luckily he doesn't need new glasses often!!
@@andersonomo597 thankfully universal healthcare pays for that here through our taxes.
@@FrugalQueeninFrance in Spain glasses and hearing aids are not paid by our universal healthcare
@@Mirth-l7l bummer! Here we have 100% sante for glasses, dentures and hearing aids as previously people were going without. We do all have to have à mutuelle top up insurance which we pay for but there’s a cheap alternative for people on low incomes.
You always have amazing quilts on your couch, I love the one you had in todays video
Thanks for watching
Thank you both. I try not to forget things, but there are a couple of things I cannot currently afford to put more aside for (large appliances and car servicing /repairs) I know I have to do that, but I have no idea how to do so. As it is I only have discretionary spending of just under £20 a month. I am seriously thinking about whether I can manage without my car.
We’re only human
If I get money back from my taxes, I will use that money to get ahead of my bills; that way I can use my regular paycheck for other things!
I have sinking funds that I put away every month for all the irregular payments also for household and appliances repairs or replacement this includes the car. I also save for holidays and trips to see my family.
Thanks for sharing!
I do the same thing, except that I haven't been able to set aside money for a replacement car. I do set aside auto repairs and maintenance costs, plus auto insurance and taxes. I really need to figure a way to set aside money for a replacement car, but honestly, I just don't know where that money is going to come from. I do have a small investment account, so that's where it may have to come from when the time comes. Diane
Hi Diane, I don’t put large amounts into my car replacement fund. I started the fund when I bought my last car and I add to it every month, I am hoping that when my car needs changing in 5 or 6 years I will have a pot of money alongside the trade in value of my existing car to buy the next car. I may need to add money from saving to fully cover the cost but at least it won’t all need to come out of my savings or worse still having to go into debt for it.
@@benhills1340 Ben, that's a good idea. I combine my errands and I save some money doing that.
@@benhills1340 Well, I hit replay too soon. I meant also to say that I live in the country, so I'm not able to use public transportation nor walk to grocery stores, bank, doctors, etc. I'm retired, so I don't have ravel to and from work expense. I will try my best to figure a way to put something in a car replacement fund each month. I appreciate your suggestions. Diane
My hobby is knitting. And l have a stash of wool. So this year l’m using down my stash of wool. And not buying any wool this year. I made a lovely cable super chunky blanket.
Thanks very much
Good points Thanks for sharing
Thanks for watching!
This is my first month in retirement-I worked on my monthly budget yesterday for April.
YEAH 🤣👍 ..
When my granddaughter blabbed to me on mawmaw getting a speeding ticket ...
That was not budgeted in our bills LoL 😂
She tends to get a little carried away speeding 🤦....
Very good food for thought!! Love your fur babies❤
Thank you! 😊
Since watching you we’ve added discretionary spending which has covered most extras for us. So thanks to you, we’re sorted! Thank you.
Thanks Heather
Sorry i missed the live chat as its one of my grand daughters birthday. She just asked for some money didnt want a party or anything maybe im rubbing off on her. Im putting more money aside for dental treatment as it is going up on the NHS quite alot and i always have something to do.
Thanks for sharing
It is like when I have to go on an antibiotic for a short period of time. It isn't my normal medication and I can forget to take it. I actually put on my calendar to remind me when I have my yearly subscriptions (I have two that occur in September...one of my car and one for me (age related benefits)). For medical (doctor appointments and etc) I add that to my budget on a monthly basis.
Thanks
Appreciate your help and knowledge.Great video as always. Many thanks
My pleasure!
I will have to start saving for my son's last 2 years of highschool. So many fees for different tests and class requirements, applications for colleges, cap and gown for graduation, senior pics and prom if he wants to do that, and miscellaneous random fees here and there.
Thanks for watching and commenting
Special made shoes to correctly support my feet are sinkingfund for me, including the fitting appointments and specialised socks I have to wear🥾🧦
Thanks very much for watching
Thank you for this helpful video. Those occasional bills can be the toughest to plan for. I look forward to your future videos!
Glad it was helpful!
Great reminders. I overlooked a small annual insurance payment last year so have added that in.
Thanks for watching
Straight talking common sense as always Jane.
Thanks very much
Excellent video Jane. I sat with pen and paper making notes. I did have most things for myself written on my budget planner but the tips for if you have school children were great. I made notes on these so I can pass them onto my sons for their budgeting. 👍
Thanks Carol
Good reminder. That is another new quilt behind you; very nice. Have a good day.
Thank you! You too!
I’m a passionate scuba diver. I have a separate savings account I call the “scuba fund.” I stuff it all winter for my spring/summer diving.
My parents are lucky then...I barely had a growth spurt during secondary school...I'm a short stack still hahahaha
We had to pay $800 excess on our comprehensive insurance for our car repairs when car was stolen. Plus 4 new deadlocks for house because all keys were stolen. Definitely not saved for!
Excess is painful sometimes
Another great video. I've been focusing on my sinking funds this year as my long and short term savings are going well, 'paying myself first' is the only way that my savings pots are filling up.
My emergency fund has been a life line whilst my sinking funds fill up as I hadn't saved enough in my car sinking pot before needing it so topping it up from my emergency fund then topping that back up has taken a couple of months but I haven't for the first time needed to use credit to cover it.
With my sinking funds I'm regularly adjusting them particularly when I've underestimated just how much I'll need. Writing down everything I spend has highlighted a couple of groups of items that I hadn't taken into account but which are cropping up regularly so I'm now adding 2 more headings to my sinking funds.
I'm due a pay rise shortly so am looking at adding a home maintenance heading.
The thing I've realised is what you've said in the past " a budget isn't set in stone and needs regular adjustments" 😊
Thanks Alison
I reviewed my spending each week and my bill monthly.
Thanks for sharing
Thank you for the specific tips.
You are so welcome!
I don’t have a a fund for my garden, dental care or discretionary spending. 😕 It’s budget writing day today so I’d best set them up. Now to tweak other funds to find the money 🥺 Thanks for the wake up call. Xx
Thanks very much for watching
I'm finding medical expenses to be the most difficult to plan for. I had saved for it, but apparently not enough for the year, so I've had to take on part time work to cover the shortfall. Hoping to do better next year. Who knew hearing aids could be so expensive!
Sorry to hear that. They're part of our universal healthcare here that we pay for with taxes.
We stock up on school uniform when money off deals are on. Been caught too many times by them growing out of it.
Thanks for sharing
Mooie video weer 😊❤
👍👍👍
I have trash expenses every quarter.
I wish there was another term to use instead of "sinking funds". I envision my hard earned savings sinking under the water as the sun sinks behind the skyline! I know it's silly but that image from earlier years when I was hard scrambling to make it pops into my head each time I hear that phrase. I need a more uplifting phrase like "raising funds" 😊
".
Call them what you like. Sinking funds are designed to completely empty when they do the job they've been saved for. When the fund is empty you immediately start filling it again.
Tidal funds x
I can't afford to give money or food to charity.
You don't have to justify anything you do. Kind thoughts your way.
👍💐