Aug 14, 2013 | 2 comments



Really good post from Frugal Queen today about budgeting.

Froogs is discussing how she budgets. She has multiple accounts to save for various different things, like washing machine blow ups, car tyre failures and clothes for growing children.

I do some of those things, not all, and I do other things. The way I budget is to sit down with an Excel spreadsheet (spreadsheet queen me!) and work out everything coming in and going out, averaging out the irregular stuff like car tax over 12 months. I run a Cahoot savings account for us and into it every month goes one twelfth of the budgeted expenses, except groceries. All the regular bills that can be are set up as a direct debit from it, the rest are paid as they come up. The peace of mind for me is knowing that so long as I keep that money going in, the bills are taken care of, as is anything I want to accumulate money for, some big expense or something.

I’m not a great fan of insurance. I much prefer to put aside cash to deal with the event that insurance would cover, because the entire premise of insurance companies is that most of their policy holders will not claim. If they did, the insurance company couldn’t make a profit. So I would much rather pay £x to myself into a savings account than to Huge Ins Co. Inc. on the off-chance that horrible event Y may happen.

Do you have a technique that works well for you? Would love to hear about it. I might even steal it and do it myself!

When I price things for this blog, I use 50p for main meals, 20p for breakfast and lunch and 10p for a cakey treat. Although that is flexible, so long as a day adds up to £1.

I really must do another weekly plan, but I keep getting distracted by interesting things to try, I have been thinking about pancakes and things to stuff them with today.



  1. Lesley

    Oh yes, pet insurance! I don’t think about that one as we don’t have any pets ourselves. Well done!
    We do have buildings insurance, which the mortgage company required, but we don’t have a mortgage any more. But I suppose I should keep that going. But we have contents insurance too, and I realised this week that I never claim on it, even if I could, and the only reason to have it is for something really catastrophic like a river flood or a fire. Would it be too big a risk to cancel that?
    We don’t have any insurance for mobile phones, laptop etc, or warranties, or health insurance, or life insurance as we have no dependants or mortgage, or cover for the boiler/washing machine /fridge freezer etc etc.

    Having said I don’t claim, I did get the desktop replaced with a laptop 3 years ago when a power surge blew up the desktop, but you don’t really save much because the blighters put the premiums up. So I may as well have just put the money aside, as I do for other things, like the boiler.

  2. Sue

    I’m always astounded that folk pay out for pet insurance.

    We have a back up credit card that is always fully available for any accident our furry friends may have or illness they may succumb to. In all my 35 years of being responsible for the payment of pet bills I have only ever needed to pay out for the regular vaccinations (which are not covered by insurance anyway) and two pussy cat emergences and one doggy one. The amount of money I could have paid into any insurance policy would be horrendously higher than any of the costs of these emergency treatments, which each cost me less than the cost of couple of months payments onto a pet plan. Each time I simply used the credit card and then paid it off at the end of the month, when I had balanced the books over the intervening weeks to include the payment and thus not even incurring any interest charges.

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