Is it possible to budget too much?

pollyanna24

My bf already thinks I'm too anal about this and doesn't understand why I need so many diff accounts for bills that don't come out monthly, but as much as I like the idea of not having to find money for something as it's budgeted for, I think I'm becoming a bit obsessed. It's starting to feel that all our money is going into a bills pot!

Below is what I have in the non monthly bit, but divided so they are monthly (if you see what I mean)
Quarterly bills
TV Licence - 11.71

Bi-annual bills
Contact lenses - 25.00
Dentist - 7.00

Annual bills
Services on car and bikes - 40.00
Birthdays/Christmas (£30 each on 8 people) - 40.00
Car insurance - 33.33
Gardening allowance - 20.00
Buildings/contents insurance - 18.83
BF bike insurance - 15.00
My bike insurance - 12.50
BF's eyetest - 2.00
My bike tax - 1.25
BF's bike tax - 1.25
Car Tax - 11.25
Total we need put away each month for these - 239.13

The gardening thing is a new one when we wanted to plant some plants and then realised how much they were. Thought it would be nice to just go next Mar/Apr and be able to spend £250 as it's been saved for.

What else do peeps have in their non monthly budget? I know there is holidays, but we also save a lot, don't go on holiday a lot, so if it does crop up, we'll dip in there.

Storm

I have 3 accounts running, my current account for everyday spends, a second bank account for rent & household bills (both monthly & quarterly ones) and an instant access isa for all the car stuff. I've found this works quite well as it means that if I've only saved up half the cost of the car tax when it's due I can 'borrow' the money that would have been for the insurance as there will be time to build the pot up again.

KittyKate

Not to sound tight but you could spend a bit less on gifts for others yet still get them nice things - take the Christmas hampers loads of MSEers did, or get DVDs from CDWOW via Pigsback (ie for free). Get bits from Boots sale or Pound Shops. You could halve that, with some creative ways!

sammy115

Wish i was more anal actually!

Dithering_Dad

sammy115 wrote: »

Wish i was more anal actually!

Now then missus! *said in best Frankie Howerd voice*

I have an account that pays all of our direct debits and just have a standing order from my current account to it once a month that transfers all the money a couple of days after my "salary" is paid in. I also transfer money to Mrs Dither's account for housekeeping and then the rest goes into the offset.

Seems to work OK-ish.

Skint_Catt

sammy115 wrote: »

Wish i was more anal actually!

Me too! :rolleyes:

wherediditallgo

I now have 3 accounts - one for my salary & the 'roof over my head' expenses which will get paid first, one for the utilities which will get paid next & one for my personal allowance which I can dip into throughout the month. I intend to set up another one for small incidental expenses, like getting shoes mended, a watch repaired, plants for the the garden, that sort of thing. Maybe I'll have another one for any savings I can make - I intend joining the £2 coin saving club, but I'll also be doing 5p pieces as they get on my nerves. I'll be transferring a set amount from account one to each of the other accounts as soon as I get paid, so that I know where I am with each thing (the statements will be a lot easier to read, for one!) & don't have to worry about them. I definitely agree with not keeping all your eggs in one basket.

ZTD

Skint_Catt wrote: »

sammy115 wrote: »

Wish i was more anal actually!

Me too! :rolleyes:

I clicked on this thread - and that was the first post I saw... :eek: :shocked:

bonnie_2

I have 3 accounts, a day to day account, a direct debit account and an isa for whats left.
£110 a week for everything. Food, going out and £10 what i save each week for my hair and medical expenses.
Plus £90 for bills a week.