Housing which includes utilities is my biggest category – and 2020 was no exception. It accounts for 35% of my total expenses.
So what is essential and what is not?
The essentials are:
Local council rates $1733
Home and Contents insurance $989.81 (with $500 excess)
Water $953
Gas $1081.16
Electricity $195.05
Home phone & internet $900
Home maintenance $1396 (front door lock & 2 insurance claims)
Garden $303 (potting mix, manure etc, vegetable seedlings)
Total = $7551.02
Note to self – must look at internet provider and see if I can switch to a cheaper provider
My non essentials included a cleaner and gardener and buying 3 wicking garden beds. I used to have a cleaner for 2 hours once a fortnight but that ceased in early March last year. I will not engage another one. My Roomba is doing quite well with keeping my floor clean.
The gardener is another issue – I used to classify the expense as essential when I worked all hours in the day. But now that I’m working less hours and learning how to grow vegetables, I will reduce the frequency and take on more tasks in the garden.
Thanks for sharing. My bare bones budget is approx $550 NZD a week (Family of 3 now – one moved out). I’ve only got $5k in my emergency fund but can draw down a further $70k from liquid assets if required. No debts to speak of helps. Certainly a much better position than where I was at a couple of years ago when a job loss would have meant disaster!
Congrats, Vinnie! Debt free rocks 🙂
I just have to hang tight for another 5 to 6 years – that full time income will enable me to retire fully soon
Hi,
Thanks for sharing. How on earth do you keep electricity at $195/yr? Solar? Probably propane stove, water heater and heat? Thanks. Good job
Hi Lolly, yes I do have solar. Installed it in late 2018 and has never looked back. My goal is to build up enough credits during summer and not pay anything in winter 🙂
Well I hope you don’t find yourself unemployed but I agree this is a great exercise! I can definitely see how knowing this number brings peace of mind. I think I’ll do the same!
Thanks, Amelia – I hope so too! At least I now know the minimum I need to survive 🙂
I KNEW my kids were costing me a fortune!!!!
Haha! This was only my essentials, no discretionary spending such as travel or French cheese 🙂