Online Enquiry
Name *
Phone *
Email *
* Required fields

X Close

Dollars & Sense



Dollars & Sense is where you will useful tips and ideas around money and how to manage it successfully. It will cover topics ranging from suggested ways to set up your bank accounts through to different savings stategies that you could start implementing today to reap the benefits of tomorrow.


For those of you who have attended my It's Your Money Ralph Presentations & Workshops you will recognise some of the material but there will also be plenty of new material that you will find useful when it comes to managing your money. Simply put, it will help you make sense of managing your money.

New material will be added on a weekly basis. 


If you would like the content delivered to your inbox, just send me an email with Dollars & Sense in the subject line.



Bank Account Structure

Protecting Yourself From Yourself

Keeping Your Special Valentine Happy!




Bank Account Structure:

At a minimum you might like to consider having two bank accounts open.

The bank accounts don’t have to be open within the same bank or necessarily within two banks. You may have one open in a bank and one in a credit union or you could have both open in credit union. It doesn’t matter where the accounts are setup. Just ensure that you are not paying bank account fees for either account.  Ask the branch staff which account would suit your needs and where you won’t be charged ANY account keeping fees.

Bank Account 1 - Regular Expenses [BILL] Account

  • This is the account your pay is deposited into each payday
  • Is used for paying regular predictable bills
  • Any direct debits are from this account e.g;
    • Phone & internet
    • Gym membership
    • Board, rent, mortgage
    • Private health insurance
    • Utilities – gas, water, electricity
    • Council rates
    • Each payday there is an automatic transfer of a budgeted amount to Bank account 2, Day2Day account.

Bank Account 2 - Day2Day Account

  • This account is topped up each payday via direct debit from your regular expenses account
  • It is used for paying for;
    • Food
    • Fuel
    • Fun
    • Incidentals
  • NO direct debits are to come out of this account

Back to Top


Protecting Yourself From Yourself


Protected PiggbankOne of the first things that you need to do to get get your finances back on track is protect yourself from yourself!

For those of you who have attended my
'It's Your Money Ralph' presenation you will recall what happened with the bag of chips!.


How many times does this scenario happen to you?

Payday comes along, you go to your favourite supermarket, fill up the trolley, pay by EFTPOS , the approved tick appears on the screen. All good!

You go to the next shop on your list, you get what you need and you pay via EFTPOS and again you sewe the Approved with the tick.

You go to a few more stors but eventually at the last store you are, you key in your PIN and a message comes up that the transaction has been declined, contact your bank!! Thatt's NOT good! You have spent all the money in that account. How are you going to cover any bills that are due to come out between now and next payday?


SOLUTION : You might like to consider transferring each pay day an amount of money from the account that your pay is deposited into, into a separate Day2Day account. The amount should at a minimum cover the cost of the following;

  • groceries
  • fuel,
  • fun
  • incidentals.

This Day2Day account should have a DEBIT card attached to it, NOT a CREDIT card and NO direct deposits should be made from it. If you spend all this money prior to your next pay day at least your bill paying capacity has not been impacted.


It will work best if you setup a regular electronic transfer of this sum of money to take place EVERY PAYDAY from your account that your pay goes into into your Day2Day account. This usually can be done very easily online through the banks website or ask in branch for some assistance.



Back to Top


The 6 Types Of Expenses



The 6 Types Of ExpensesYou may not have realised this, there are only 6 types of expenses we all encounter in our lives. Understanding each type allows us to gain better control of our money.

The first type of expense is WEEKLY LIVING EXPENSES. This includes items such as food, Fuel, Fun & Incidentals. Incidentals are those things that are generally unpredictable in nature so it is hard to actually budget for them. Example may include, the one off doctors appointment, the BBQ Gas bottle refill etc.

As per tip number 1, all these expenses should be paid out of a Day2Day bank account that has money transferred into it from you bill paying [regular expenses] account every payday.


Keeping Your Special Valentine Happy!


It’s Valentine’s Day tomorrow and you haven’t set aside any money to get that special person in your life a gift!

Keeping Your Special Valentine Happy


What are your options?

  1. Beg, borrow or steal some money,
  2. Put it on the credit card,
  3. Do nothing at all!

So you don’t have the same dilemma next year,  add Valentine’s Day Present as an annual regular expense in your spending plan.

valentines day present regular expense


Don't forget to roll your Spending Plan over once you have added the new expense.


You don't have a Spending Plan! Contact me on 0413 587 120 and let me simplify your home finances!


Problem solved for next year and beyond, now all you have to do is survive tomorrow!



Back to Top