Budget Cuts At The QR Gravy Train, But Is Your House In Order?


www.rodneybukuya.com

Time to cut your costs?

Over 3,000 jobs to be axed in Queensland Government. 2,000 jobs at QR alone including 12 very comfortable executive positions. 500 more over at Department of Justice.

No more corporate boxes at the football for state government networking and we’re not going to spend $275 Million on new offices for the Public Works Department.

The Courier Mail also reported today, that double sided printing has been enforced and that staff catering is to be axed.

This is what the Premier is doing to reduce our debt at State Government level. But when was the last time you reviewed your household spending? Do you read your monthly bank and credit card statements? Do you peruse the transactions being made or do you just check to see that some random stranger hasn’t hacked your internet banking and stolen the $15 you have in your ‘savings’ account?

There’s an old joke that says a man didn’t report his wifes stolen credit card because the thief was spending less than she was. Are you the biggest culprit in your financial mess?

Each month, financial commentators angrily report to you that you missed out on $120 of cashflow savings this month because your bank held back the RBA’s interest rate cuts. We hear politicians rail nightly about the imposition of the new carbon tax and how we’re penny pinching to survive. Everyone, it seems, has a tale of woe about how much they’re struggling.

And yet, last night I watched The Maroons win their seventh State of Origin series surrounded by a sea of supporters jerseys, scarves and beanies from both sides of the border.

Perhaps we don’t have a cash flow problem at all. Perhaps we have a priority problem. I fully support your right to spend your income anyway you choose but if you’re going to complain about your cost of living, then make sure you’re in control of where it goes.

For one month, write down every single cent that is spent and earned in your household. Sit down at the end of the month, with your partner if you have one, and go through the items and the dollars spent individually and discuss whether it needs to be stopped or altered.

Are there little habits that have snuck into your routine, which have a cumulative effect?

You might be surprised to find that you can go ahead and spend $170 on a supporters jersey guilt free because you’ve discovered that your trips to the coffee van are costing $20 a day.

A $5 coffee doesn’t sound like much, but three of those a day plus a bikkie at 3pm adds up. An average person who works a five day week and a 48 week year will spend $4,800 per annum. On Coffee.

Are there two people in your home on this little escapade? That could equate to an annual $10,000 family holiday.

I know which one is better for my family.

What does your family do to monitor cash flow? Tell us about it in the comments.

 

8 thoughts on “Budget Cuts At The QR Gravy Train, But Is Your House In Order?

    1. rodneybukuya Post author

      I think people really underestimate the cumulative effect of the little things.

      I’m a spender myself and have always found it easier to save when I put mechanisms in my way to stop me spending.

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  1. Gavin

    I was once told that if you don\’t respect money then it wont respect you. Over the years I have found this to be my very experience so I started doing most of the great points you have made. The result was I had a lot more money however managed to lose most of it in some so called secure investments. While I totally agree with what you are saying in this post, I would love to see one about money and our mindset 🙂

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    1. rodneybukuya Post author

      Aaaah The Psychology of money. One of my favourite topics.

      The trouble being of course, picking a starting point because everyone starts with different programmes running.

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  2. Nathan

    Or you could just get your employer to provide a decent coffee machine – increased productivity due to less downtime getting coffees (employer wins) and you limit the opportunities you get to go and spend that sneaky lobster sitting in your wallet (me wins)

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    1. rodneybukuya Post author

      Good at a logical level Nate, I’m not worried about the downtime though, Taking time out for coffee with a work colleague is great for morale.

      And let’s face it, some people including myself need to put some real barriers in front of themselves to stop spending.

      Keeping a lobster in your wallet, may not bother you but for people like me and lots of other people I know, the emotional need to spend it is too high.

      For chronic spenders, I regularly recommend keeping no money in their wallets. You’d be surprised how much push back I get on what seems a fairly logical solution.

      And yes, sometimes when I’m feeling particularly vulnerable, I even make sure I leave my key card at home so I can remove temptation.

      Knowing me as well as you do, I’m sure you can remember how much financial damage I can inflict upon myself when left unchecked.

      Lots and lots of my clients in the past have been in a similar boat.

      Hugs and Kisses to my godson and his mama please.

      love you

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    1. rodneybukuya Post author

      Hi Kama, do you have any particular starting points that you’d like me to start at?

      I have quite a few up my sleeve depending on where you’re at?

      Feel free to send me a private message at rodney@bukuya.com if you are hesitant to share the intimate details and I’ll then turn it into a genetic post as I’m there will be others at the same or a similar point.

      Thanks for the request

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