Australia's high personal debt

[Value Collector]

I take it you haven't done the shopping lately? And not buying for 6?

I do the shopping, and I could feed a family of 6 easily for $150 a week, as I said basic nutritious food is cheap, it's just there a multitude of options to over spend on that help people fritter away their money.

But if you shop well, and plan your meals, you can feed a family of four well for about $100 a week,

 

[SirRumpole]

But if you shop well, and plan your meals, you can feed a family of four well for about $100 a week,

Prove it.

Let's see your shopping list and prices.

 

[luutzu]

I got to where I am now by living frugal in my 20's

Are they Genuinely frugal? or are they frittering away money behind the scenes on countless things that go under your radar.

If he were genuinely hard working and frugal, and just invested in an index fund, he could have over $1M in his late 50's.

However, if just fritters away money, we won't, its simple at that, nothing structural against him, its all behavioural.

I bet she lived better than her grandparents.

I spoke to an accountant recently and he said he doesn't invest in stocks. Have no interests in it. That he'd seen too many of his clients losing money on the thing.

I was like, ....

Stocks aren't for everyone. Even an Index fund.

In fact, I only know 1 person who think stock is something different from gambling.

----

I don't know what habits and addiction they might or might not have, so can't say. But there are people who aren't wealthy because they have a habit of volunteering or giving their cash away to relatives or family members in need.

 

[luutzu]

I do the shopping, and I could feed a family of 6 easily for $150 a week, as I said basic nutritious food is cheap, it's just there a multitude of options to over spend on that help people fritter away their money.

But if you shop well, and plan your meals, you can feed a family of four well for about $100 a week,

No you can't.

And you can't feed them just literal bread and butter with a glass of tap water either alright?

I'm pretty cheap and I can't do it. Well, maybe I'd save a bit more if I plan things better but my plan always involve buying things with a bright yellow ticket next to it. Heck, I even count the cent per sheet of toilet paper to get the best bargain... and my wife have to tell me that not all apples are the same; so stop buying cheap ones all of the time

 

[cynic]

...

But if you shop well, and plan your meals, you can feed a family of four well for about $100 a week,

Yes. $100 can buy one a heck of a lot of rice.

 

[Value Collector]

Prove it.

Let's see your shopping list and prices.

Breakfasts -

$ 7.00 - 1.5 Kg pack of weetbix (84 biscuits) 12 per day
$10.80 - 6 Litres of Soy milk (28 servings for weetbix)
$ 3.00 - 2 loaves of bread (32 slices + 4 crusts) 4.5 slices per day
$ 6.00 - toppings for toast (peanut butter etc)

Total 7 days of breakfast = $26.80

Lunch bases.

$ 6.00 - 4 loaves of bread
$ 3.00 - Ice berg lettuce
$15.00 - tomatoes, carrots, cucumber, hummus etc (purchased according to prices)
$ 0.00 - Left over dinner foods.

Total 7 days lunch base = $24.00

Dinner bases

$ 8.00 - 4 KG of rice ( 60 servings of rice 14 per person)
$ 7.50 - 4 KG of potatoes or pasta ( 4 servings per person)
$ 4.00 - Soy milk and Marg for mashing potatoes
$14.60 - 4 kg of frozen Veg ( 1 kilo person)

Total 7 days dinner base = $34.10


that leaves $15.10 to dress things up, or add some snacks.

for example.

If I spend $6 on green curry paste and coconut milk I can turn the rice and veggies into a thai green curry.

or $2 of pasta sauce and $6 of vegan mince or mushrooms can turn some of the pasta in bolognasie.

etc etc.

Basically you start with cheap staples and use your imaginations to dress it up.

 

[sptrawler]

I even here people whinge about the cost of food and say Coles and Woolies are rip off's.

But a Truly frugal person should be able to provide a family of four with more than enough food for $100 or less per week.

I have just come home from doing the shopping with the wife, so i thought i would run that past her, if there is anyone who can do a tight food budget it is her.
We had 4 kids and lived as frugally as possible, here is her thoughts.

She said no, it isn't possible to feed a family of 4 on $100 more like $150, I asked why.
The main reason is the cost of fruit and veggies, bread, milk etc, meat isn't such an issue because you can use $7 mince as the base and a silverside and or a roast to break it up.

The other thing she said is, most young people today don't cook, or make cereal themselves.
Also they need to plan and buy to a menu, that is worked out over a fortnight, then repeated. This doesn't work in with today's society, she thinks.

I asked what sort of menu would you knock up? Here is what she used to make.

Breakfast. toast and porridge made from bulk oats dried raisings added when cooked apparently adds taste, don't buy pre packaged oats.

Lunch. sandwiches, polony and or a filler or jam.

Dinner. chilli concarne, spaghetti bog, mince rice and vegies, corned silverside(pressure cooked) + vegies (leaves cold meat for sandwiches), shepherds pie, leg of mutton roast(leaves meat for another day), tuna bake, egg bake, steaming fowl(pressure cook) use meat in chicken and spaghetti bog with touch of tabasco (use the stock for chicken soup).

Then she blew her top and asked if I'm planning on leaving or something.

Anyway it was an interesting shopping trip, thanks for the topic VC.

Just read your post below VC, the other thing she said was, you have to change it up and space the favourites out. Otherwise the kids get really anti.
I see with your menu, you are bringing up vegetarians.

 

[Value Collector]

She said no, it isn't possible to feed a family of 4 on $100 more like $150, I asked why.
The main reason is the cost of fruit and veggies, bread, milk etc, meat isn't such an issue because you can use $7 mince as the base and a silverside and or a roast to break it up..

If you eat meat you might need $150, but if you are vegan and really committed to being frugal to generate some savings for a while, $100 is do able.

$7 might get you some mince, but it would buy 4KG of potatoes or 8 Kilograms of rice or 3kg of frozen veg.

 

[sptrawler]

If you eat meat you might need $150, but if you are vegan and really committed to being frugal to generate some savings for a while, $100 is do able.

$7 might get you some mince, but it would buy 4KG of potatoes or 8 Kilograms of rice or 3kg of frozen veg.

Yes, but then you are making the kids become something you believe in.
I'm one of those people who just lets the kids chose their way. If they didn't like meat I wouldn't have given it to them, it wasn't as though they didn't reject brussel sprouts.

Same with religion, I'm confirmed C of E, but the kids aren't even christened. If as they grew up they chose to study religion, so be it, I would support them.

 

[Wysiwyg]

Breakfasts -

$ 7.00 - 1.5 Kg pack of weetbix (84 biscuits) 12 per day
$10.80 - 6 Litres of Soy milk (28 servings for weetbix)
$ 3.00 - 2 loaves of bread (32 slices + 4 crusts) 4.5 slices per day
$ 6.00 - toppings for toast (peanut butter etc)

Total 7 days of breakfast = $26.80

Lunch bases.

$ 6.00 - 4 loaves of bread
$ 3.00 - Ice berg lettuce
$15.00 - tomatoes, carrots, cucumber, hummus etc (purchased according to prices)
$ 0.00 - Left over dinner foods.

Total 7 days lunch base = $24.00

Dinner bases

$ 8.00 - 4 KG of rice ( 60 servings of rice 14 per person)
$ 7.50 - 4 KG of potatoes or pasta ( 4 servings per person)
$ 4.00 - Soy milk and Marg for mashing potatoes
$14.60 - 4 kg of frozen Veg ( 1 kilo person)

Total 7 days dinner base = $34.10


that leaves $15.10 to dress things up, or add some snacks.

for example.

If I spend $6 on green curry paste and coconut milk I can turn the rice and veggies into a thai green curry.

or $2 of pasta sauce and $6 of vegan mince or mushrooms can turn some of the pasta in bolognasie.

etc etc.

Basically you start with cheap staples and use your imaginations to dress it up.

I hate that refrigerator ...

 

[SirRumpole]

Breakfasts -

$ 7.00 - 1.5 Kg pack of weetbix (84 biscuits) 12 per day
$10.80 - 6 Litres of Soy milk (28 servings for weetbix)
$ 3.00 - 2 loaves of bread (32 slices + 4 crusts) 4.5 slices per day
$ 6.00 - toppings for toast (peanut butter etc)

Total 7 days of breakfast = $26.80

Lunch bases.

$ 6.00 - 4 loaves of bread
$ 3.00 - Ice berg lettuce
$15.00 - tomatoes, carrots, cucumber, hummus etc (purchased according to prices)
$ 0.00 - Left over dinner foods.

Total 7 days lunch base = $24.00

Dinner bases

$ 8.00 - 4 KG of rice ( 60 servings of rice 14 per person)
$ 7.50 - 4 KG of potatoes or pasta ( 4 servings per person)
$ 4.00 - Soy milk and Marg for mashing potatoes
$14.60 - 4 kg of frozen Veg ( 1 kilo person)

Total 7 days dinner base = $34.10


that leaves $15.10 to dress things up, or add some snacks.

for example.

If I spend $6 on green curry paste and coconut milk I can turn the rice and veggies into a thai green curry.

or $2 of pasta sauce and $6 of vegan mince or mushrooms can turn some of the pasta in bolognasie.

etc etc.

Basically you start with cheap staples and use your imaginations to dress it up.

What about the recommended 3 pieces of fruit per day per person ?

 

[sptrawler]

Heck, I even count the cent per sheet of toilet paper to get the best bargain...

You sound like my wife, I had to change the toilet roll holder, because this really big roll apparently is a lot cheaper/sheet. lol

 

[luutzu]

You sound like my wife, I had to change the toilet roll holder, because this really big roll apparently is a lot cheaper/sheet. lol

A year's savings from those sheets should cover the initial cost of changing the holder. Every cent after that is pure profit my friend

My wife bought this old style paper holder where you have to unscrew the bolt each time you want to change the roll. That's annoying but it has that bucket under it so each time I change the roll I'd just pull the bolt and the cardboard roll just drop into it.

That's efficiency right? Then wait until it pile up before you take them all to the bin at once.

She doesn't see it that way though.

 

[luutzu]

If you eat meat you might need $150, but if you are vegan and really committed to being frugal to generate some savings for a while, $100 is do able.

$7 might get you some mince, but it would buy 4KG of potatoes or 8 Kilograms of rice or 3kg of frozen veg.

If you ever wonder why your wife sometime frowned and mutter to herself at breakfast, lunch and dinner... it's highly probable it all have to do with your choice of food.

Mrs VC: He's buying himself a freakin Tesla yet here I am, eating Weatbix, toast with peanut butter; more toast and lettuce for lunch. Potatoes boiled or mashed. Day in, day out. I knew I should have married Bruce. The douche spent like a sailor but at least we won't be eating like it's the Famine

 

[Smurf1976]

What about the recommended 3 pieces of fruit per day per person ?

Buy one apple and cut it into the same number of pieces as there are people in the household.

Now cut each piece into thirds.

There's your 3 pieces of fruit.

 

[SirRumpole]

Buy one apple and cut it into the same number of pieces as there are people in the household.

Now cut each piece into thirds.

There's your 3 pieces of fruit.

You should be a tax accountant.

 

[Smurf1976]

I think a big part of the trouble is that a large portion of the population has no idea how to apply even the most basic maths in their real world everyday life. For whatever reason people just don't seem capable of putting things into perspective in terms of annual costs or comparing multiple options.

I've come across many such people, many of them seemingly intelligent and with a decent education, but they haven't a clue how to put it into practice in the real world.

Do schools not teach this stuff these days?

 

[SirRumpole]

Do schools not teach this stuff these days?

They seem more concerned with gender fluidity.

I've posted before about our pathetic ranking in literacy and numeracy.

39/41 OECD nations. No wonder the banks are putting it all over consumers.

 

[luutzu]

They seem more concerned with gender fluidity.

I've posted before about our pathetic ranking in literacy and numeracy.

39/41 OECD nations. No wonder the banks are putting it all over consumers.

Both my kids are reading a year or two ahead of their grade. Their maths are, from my own estimate, about a year head too.

So you welcome

Goes without saying that we're somewhat luckier than other parents in that we can spend more time with them. Helping with homework and extra maths/English exercises.

Other parents we know either don't have much time so they either send the kids to tutoring - which isn't cheap. $60 or so an hour? What! We spent a fraction of that on treats and outings for the extra studies.

With high level of debt, both parents busy and overworked to pay the bills, it's going to cost the next generation more than just dollar and cents. And that cost will eventually trickle out into the wider community and economy.

 

[Smurf1976]

Much of this stems from people seemingly being incapable of critical thought. This then leaves them vulnerable to believing all sorts of nonsense designed to separate them from their money.