I've now figured out the categories for my envelope budgeting system. Basically this is to cover all discretional spending. Other spending which includes:
1) Water
2) Electricity
3) Council rates
4) Mortgage
5) Insurance
6) Car registration and insurance
will be done online.
Here are the categories and amounts PER fortnight.
DONATION $40
HOUSE REPAIRS $40
DOG MEAT $40
PETROL $40
MYSELF $20
SPOUSE $20
GROCERIES $200
TOTAL $400
I have to say that this will be hard to stick to but then I'll feel more in control of our spending.
Any extra money we get from relatives etc will just go straight into the savings account which offsets the mortgage.
Will let you know how this goes.
God bless!
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