If you are wondering how to set up a household budget for yourself and your loved ones, you are in the right place! We will discuss a few questions you need to answer to kick off your household budget and review some tools to help you.
There is no one-size-fits-all approach to setting up a monthly household budget. However, some common steps can be taken by most households that will get them on track with their finances.
Why do you need a budget?
When setting up your monthly budget, the first question is: ‘what is your objective?’ Are you looking to understand better where your money goes, or do you have a goal you are working towards? Your budget planning rigour will need to change depending on the answer.
How do you define household budget?
Do you live with your partner or roommate? Do you include all your shared spending under household costs? Do you have separate non-household costs as well?
If you are not alone in your household, then at the very least, you will need to align on the following:
- What does spending count towards the household budget?
- How do you finance your household budget? What amount each of you will contribute, if any?
How does your household spending look like today?
Before setting up any budget, you would need to understand the baseline. The last thing you want is to have an unrealistic goal you can never achieve, which will only invalidate the whole budgeting idea. So start small and first record all your current household outgoings.
Don’t worry; it does not need to be as daunting as it might sound. There are plenty of templates on the internet to simplify your process. And if you hate spreadsheets as much as we do, you might want to look into tools like Monshare. These are designed to analyze your expenses as close to ‘effortlessly’ as technologically possible.
What are your fixed expenses?
You need to answer this question on the way to a realistic household budget.
Certain things cannot be budgeted simply because those are things you need or love. Now we ask you to be reasonable here.
It would be best if you had a roof, food, safety, basic sports, and that Netflix subscription during the pandemic. But just because you love caviar does not mean it is something that you should include in your base expenses.
Your base expense, or your fixed expenses, should be considered in your household budget as a lump sum only: it makes no sense to analyze them further at this time.
What buckets of expenses would you like to track and budget?
I know your mind is wondering already; you might think … all of them. Hold your horses. We are not building a robust accounting system here.
We are defining a household budget that you can sustain for a long time. As a rule of thumb, you don’t want to go over seven categories and probably want to stick closer to 5.
These are the budget categories we recommend tracking:
- Fixed expenses (read the point before)
- Household costs – everything you need to buy and pay for that makes your household…a home. This would include groceries, cleaning materials, non-essential monthly subscriptions, etc.
- Personal shopping – non-essential shopping, including clothes and personal electronics.
- Fun – everyone needs some fun, even your household budget:-) Your movies, games, parties, self-care – what have you- will go here.
- Savings – you will want to budget for it separately. If your income allows for it, you should target, at the very least, 10% of your income to be put aside as savings.
- Vacation – set aside some money towards your well-deserved rest and track it monthly and annually.
- Other – everything else that did not fit above. You might need to reshuffle this when it’s more than 5% of your spending.
How much do you want to save?
Start with defining your target savings and redistributing the amounts between the rest of the groups. If you need help setting up and controlling the budget for each group, look at this free personal budget spreadsheet.
How realistic is your budget?
Track your expenses against your newly defined budget for a couple of months and revise the process. You might notice that you are too liberal with the definition of ‘Fun’ or have many ‘accidentals’ in your ‘other’ bucket. That may mean one of the following things:
- Your budget is unrealistic for your household, and you need to revise it.
- You are not diligent enough to stick to your budget and allow yourself too many ‘cheat days’ (just like on a diet, yes:-)
- You have a lot of unexpected and unplanned expenses and need a break. That is ok. We all need that sometimes.
A household budget is essential when trying to manage your expenses and needs. We hope you found our short guide on how to set up your household budget helpful.
There are many things to consider and considerations to make, but it is important to be aware of what you spend money on to stay on track with future goals.
Remember, sometimes things slip through the cracks. If this happens, don’t be too hard on yourself. Come up with a plan for getting back on track and stick with it, and good luck setting up your budget!
Where to find repossessed luxury cars for sale in the UK? 2023 Update
Is it a good idea to buy repossessed luxury cars?
Buying a repossessed vehicle, especially a luxury car would save you a good amount of money. However, if you enter an auction, bear in mind not to get carried away and end up paying more than it’s worth to.
When owners can’t afford to pay their car loans or hire purchases, the car company will retrieve the car and then resell it.
What are repossessed vehicles?
Repossession means restoring ownership to someone or something (companies). When you buy something expensive like a house or a luxury car by borrowing money from the bank or lending companies, you need to pay monthly rates for that item. If your payments are late and stop, the bank or the lending company will ask for the item to be repossessed (going back into their ownership).
Cars are also repossessed – sold to new owners if they were stolen and then recovered but were not claimed by their owners. They are then auctioned for resale, usually by the police. You can learn more, here: Police repossessed cars for sale in the UK.
Seized cars from drug dealers or other criminals, end up being sold for repossession.
A high amount of these vehicles are luxury ones.
Repossessed vehicles (cars, motorcycles, etc) are the ones that were not paid by the buyers and the company/bank takes it back.
You might ask yourself how come there are luxury repossessed cars for sale.
Debt can affect anyone. Businesses can go through decline due to current economic trends, bad financial decisions; bad timing when deciding on a purchase and the list can go on.
How can you buy a repossessed luxury car in the UK?
You can buy a luxury repossessed car from:
- Auction houses – are great places to be as you will be able to check the vehicle before the auction starts
- Online auctions – are an easy option because you can check the stocks by setting an alert for your desired car. Moreover, you can bid from the comfort of your home or when on the go.
- Bank or credit unions – registering your interest through their websites
- Police auctions – online or onsite auctions
- Car dealers – offer you the option to check and test drive luxury brands
Advantages of buying a luxury repossessed vehicle
- The auction houses and companies that sell them will ensure that they have all documentation in order.
- These cars will be tested in order to check they are fully functioning
- Safety for the buyer
- Usually, the cars are in good condition
- The price is lower and you will afford luxury brands at a fraction of their costs
- If the car is quite new you might still benefit from its warranty
Where can I find a luxury repossessed car?
The internet is a fantastic way to search for anything. Check online websites and tips from other buyers when it comes to buying a repossessed item.
Here is a useful list of companies that sell repossessed vehicles in the UK:
Repossessed cars – what car brands are considered a luxury?
In order to be considered “luxury”, the car must have high-end features that go above and beyond the average necessities. Contrary to popular belief, luxury cars can come from any brand. Here is a list of them:
- Aston Martin
- Rolls Royce
There are a number of celebrities that had their luxury cars repossessed in the past. Just a few of them are:
- Katie Price – had her pink car put up for sale after she failed to pay a fine
- Jermaine Dupri – had his Lamborghini repossessed by its car dealer
- Katy Perry – remained behind with her VW payments
- Daniella Westbrook – reported her car as being missing before admitting that it was repossessed
Disadvantages of buying a luxury repossessed vehicle
- Auctioned vehicles can’t be test-driven
- You don’t know the history of that specific car
- Takes a while until you find the make you want to buy
Probably the best thing about cars that are auctioned for repossession is that they are big money-savers, thus making luxury cars more affordable. Anyway, there are a few risks that come with getting a used car, and, of course, you will need a new MOT (a good idea is to check its MOT history here) and to compare insurance prices online in order to get the best one.
With all these in mind, remember to check your finances before buying any assets to avoid your vehicle being repossessed!
Secret jobs no one knows about
Have you ever heard of a job that seems too good to be true? Maybe you’ve always dreamed of being a mermaid or have a passion for cuddling. While these may seem unconventional or made-up job titles, they exist and are part of a group of secret jobs you may not have heard of.
These positions are not well-known or publicised, ranging from quirky and unique to highly specialised and technical.
If you’re looking for something different or are just curious about what these secret jobs may be, read on to learn about a few examples and the benefits of pursuing a career path that’s a little out of the ordinary.
Definition of secret jobs
Secret jobs are positions that are not well-known or publicised due to their unique nature. These jobs can range from quirky and artsy roles, such as mermaids or cuddlers, to more technical and highly specialised positions like ethical hackers and voice actors for video games.
These secret jobs often offer the opportunity to do something unique and different and may have a high demand and good pay. While they may not be as well-known as traditional job titles, they can be great conversation starters and lead to fulfilling and exciting careers.
In some cases, these jobs require specific skills and expertise to be successful in the role. For example, mermaids need to be able to swim well and have knowledge of the ocean and its creatures. Cuddlers must have excellent communication and interpersonal skills and an understanding of boundaries and consent.
Ethical hackers must possess a strong knowledge of systems engineering, programming, and cryptography and a keen understanding of security protocols. They should have the ability to think creatively when tackling complex technical issues and be comfortable performing in-depth research. In addition to these skills, they must have sound ethical judgment and good problem-solving abilities.
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Examples of secret jobs
This may sound like a made-up job, but professional mermaids do exist! These individuals often perform at events or parties, and may also work as models or actors in films and television shows. To be a professional mermaid, you typically need to be comfortable in the water and be able to hold your breath for long periods of time. Specialised mermaid training courses and certification programs are also available.
Believe it or not, some people get paid to cuddle with clients. Professional cuddlers offer a non-sexual form of physical touch and emotional support, and can work in a variety of settings such as spas or as independent contractors. To become a professional cuddler, you typically need to undergo training and pass a background check.
Ghost tour guide
If you’re interested in the supernatural and have a talent for storytelling, you may want to consider becoming a ghost tour guide. These individuals lead groups on walking or driving tours of reportedly haunted locations, sharing spooky stories and local history along the way. Ghost tour guides often need to do extensive research on the history and folklore of the area they are leading tours in.
An ethical hacker, also known as a white hat hacker, is a computer and network security professional who uses their skills to help companies find and fix vulnerabilities in their systems. Ethical hackers may work for cybersecurity consulting firms or be self-employed. To become an ethical hacker, you typically need a strong understanding of computer systems and programming languages and relevant certifications.
Voice actor for video games
Voice acting for video games is a highly specialised field that requires a unique set of skills. Voice actors for video games provide the voices for characters in video games, and may also be responsible for recording sound effects and other audio. To become a voice actor for video games, you typically need to have acting experience and a good understanding of the gaming industry. Training in voice acting and vocal techniques can also be helpful.
Air Traffic Controller
Air traffic controllers are responsible for directing the movement of aircraft on the ground and in the air to ensure the safe and efficient flow of traffic. This job requires a high level of concentration and attention to detail, as well as the ability to make quick decisions under pressure. To become an air traffic controller, you typically need to have a bachelor’s degree and pass a series of exams
Ice Cream Taster
While it may sound like a dream job, being an ice cream taster is actually a serious responsibility. These professionals taste and evaluate ice cream to ensure that it meets the company’s taste, texture, and overall quality standards. Ice cream tasters may work for ice cream manufacturers or in quality control positions at ice cream shops.
Professional cuddlers offer clients a non-sexual form of physical touch and emotional support. This job may be suitable for individuals who are empathetic, caring, and comfortable with physical touch. To become a professional cuddler, you typically need to undergo training and pass a background check.
Crime Scene Cleaner
Crime scene cleaners are responsible for cleaning and decontaminating locations where a crime or accident has occurred. This job requires a high level of professionalism and the ability to handle potentially disturbing situations. To become a crime scene cleaner, you may need to complete specialised training and pass a background check.
Bed Bug Exterminator
Bed bugs can be a major nuisance, and bed bug exterminators are responsible for eliminating these pests from homes and businesses. This job requires a strong attention to detail and the ability to work in small spaces. To become a bed bug exterminator, you may need to complete training and obtain a pest control license.
Funeral directors are responsible for helping families plan and carry out funeral or memorial services for their loved ones. This job requires a high level of professionalism, as well as excellent communication and organisation skills. To become a funeral director, you typically need to complete a degree program and pass a state exam.
Benefits of secret jobs
There are a number of benefits to pursuing a career in a secret job. These positions often offer the opportunity to do something unique and different, and can be a great conversation starter. In addition, secret jobs may have a high demand and good pay, especially if they require specialised skills or training. Some other benefits of secret jobs include:
- The ability to pursue a passion or hobby as a career
- The opportunity to make a positive impact in a niche area
- The chance to be part of a tight-knit community of professionals
- The potential for personal and professional growth
- The ability to stand out in the job market
Keep in mind that while secret jobs may offer these benefits, they may also come with their own set of challenges and may not be suitable for everyone. It is important to carefully consider your own interests and skills before deciding to pursue a career in a secret job.
The challenges of pursuing a career in a secret job
Finding job openings
Secret jobs may not be as well-known or publicised as more traditional careers, making it difficult to find job openings. To uncover opportunities in these fields, it may be necessary to do extensive research and networking.
Lack of recognition
Secret jobs may not have the same level of recognition as more traditional careers, which can make it difficult to gain credibility or respect in the industry. It may be necessary to work harder to prove oneself and establish a reputation in a secret job.
Limited career advancement
Depending on the field, there may be limited opportunities for advancement in a secret job. This can make it difficult to move up the career ladder or increase one’s income over time.
Secret jobs can be unpredictable, and it may be difficult to predict when work will be available or how much income can be expected. This can make it challenging to plan for the future or to rely on a secret job as a stable source of income.
Some secret jobs may be viewed as unconventional or even strange by society, which can lead to stigma or negative perceptions. This can make it difficult for individuals in these fields to be taken seriously or to find acceptance in their community.
Some secret jobs may require specialised skills or training, which can be time-consuming and costly to obtain. This can be a challenge for those interested in pursuing a secret job career but don’t have the necessary skills or resources.
How to find secret jobs?
If you’re interested in pursuing a career in a secret job, you may be wondering where to start. While these positions may not be as well-known or publicised as more traditional careers, there are still ways to find opportunities in these fields. You can use several strategies to find secret jobs, from networking with industry professionals to researching online or asking friends and family for connections.
Networking with people in the industry
One of the most effective ways to find secret jobs is by networking with people who are already working in the field. This can include attending industry events, joining professional organisations, or connecting with individuals on LinkedIn. By building relationships with people in the industry, you can learn about job openings, get advice on breaking into the field, and gain valuable insights into the day-to-day realities of the job.
Researching online or in speciality job databases
Many online resources can help you find secret jobs. These may include job boards focused explicitly on unusual or speciality positions and general job search websites that may list secret job openings. You can also search for companies or organisations that may be hiring for secret jobs and reach out to them directly.
Asking friends or family members
Another way to find secret jobs is by asking friends or family members if they know of any openings or can connect you with someone in the industry. Often, word-of-mouth can be a powerful tool in uncovering job opportunities that may not be widely advertised. Don’t be afraid to ask around and see if anyone you know has connections in a secret job field that you are interested in.
Closing Thoughts: Is a Secret Job Right for You?
In conclusion, secret jobs are not well-known or publicised positions and can range from quirky and unique to highly specialised and technical. Some examples of secret jobs include professional mermaids, professional cuddlers, ghost tour guides, ethical hackers, and voice actors for video games.
These roles offer the opportunity to do something unique and different and may have a high demand and good pay. While they may come with their own set of challenges, secret jobs can be a rewarding and fulfilling career option for those who are interested in exploring something a little out of the ordinary.
If you’re considering a secret job, there are several ways you can find these positions, including networking with people in the industry, researching online or in speciality job databases, and asking friends or family members.
Keep an open mind, and don’t be afraid to consider a career path that may be a little unconventional. Who knows, you may find your dream job in a field you never even knew existed!
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Fun facts about best friends in 2023
I’ve made a top of 10 fun facts about best friends and first I will show you the reasons why a girl is better as a BFF and then why a boy.
What are the benefits of having friends?
We are social beings. When we’re lonely and feeling isolated, it’s difficult to think of anything else. Friends can provide a sense of belonging that is comforting in tough times as well as joyful moments.
Being able to share your triumphs or lean on someone when you need them is priceless for many people who live alone with no one but their pets for company most days.
For those without siblings, having close friends or lifelong friendships is like having a sister or a brother.
Do you have close friends?
Close friends are the people who know everything about you and still love you. They’re the ones that will be there for you when no one else is, or they’ll just make your day better with a phone call.
You deserve to have someone in your life that loves and cares for you unconditionally. If you don’t have one, now it’s time to find yourself a best friend!(more…)
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