A reverse budget is the process whereby the budgeter flips how they handle their allocation of money from being expenses first to savings first. It is also commonly known as the pay-yourself-first approach. The Bible states in the book of Ecclesiastes that There is nothing new under the sun, and while this approach may seem appealing it does conjure up some concerns. Firstly, let’s understand the general process of budgeting before we explore the new reverse budget process.
Prior to my wife and I getting married together we had never seriously looked at getting health insurance before. We knew it was something important for us to consider now as we readied for marriage, because there was a strong possibility we were going to have children. So with a little foresight we both signed up for individual health plans with one of Australia’s largest private health insurers. I signed up thinking I was minimising my tax and paid for the lowest coverage possible, whereas my fiance took out the policy with kitchen sink.
Every once in awhile when I look at my bank account I find myself wondering the same question, “How much should I be saving every month?”. According to a few personal finance gurus (like Dave Ramsey and Scott Pape) a good target you should be aiming to save of your gross salary is around 15%. But let’s look at how this broken down in a little more detail. Go Annualised It can be easy to focus on a month and think that this “normal”, but until you expand your budget to other months of the year you begin to realise that maybe the month you thought was good, was good because the other subsequent months were taking more of the expenditures.
If there’s one area within your budget that you can easily save a few dollars every week - it’s your groceries. It can be a very difficult to think outside the box when you want to change your eating habits. We’ve become highly accustomed to eat foods that we enjoy only because we were raised on them. Not only do we have our tastes competing against our wallet, but we also have more variety and diversity when it comes to food today.
If you’re looking for an insurance aggregator that can scan a variety of home and contents insurers and present you with the best quote then start with Compare the Market’s home and contents insurance comparison website . Our Recent Experience Recently I looked around for quotes from insurance companies to see if I should renew with my current insurer or whether I should look elsewhere. As we pay annually I had a limited time to try and find a new insurer otherwise we would just renew - the easy way out!
In today’s post we’re going to look at how you can save hundreds of dollars by doing a few simple comparisons when your home and contents insurance is up for renewal. With rising insurance costs and growing premiums every year it’s more important to try and find the best deal you can by putting in a little bit of time and effort. We look at 3 methods you can easily do that shows you how to easily find the best deal.
It’s that time of year again for us. Yep, time when our home & contents insurance is up for its annual renewal. I prefer paying for our insurance bills annually as it helps me to find a better deal just before the current one is up for renewal. We have paid our insurance over a monthly timeframe, but because it’s always there you tend to forget about it. Anyway, last year we found the best insurance coverage for us was with NRMA, but this was primarily due to good discounts we obtained by packaging our car insurances with them.