6 Expense Types (All)

These expenses occur every week.
It is irrelevant whether they are ‘essential vs non-essential’ or ‘needs vs wants’.
As long as they are regular weekly expenses and come under the FFFI category, this is where they fit.


Separating your spending money from your Bills or Savings money will protect your money from being overspent. This account will have a spending boundary (planned amount) so you know when to STOP spending.
Where to Keep Money For These Expenses
It is recommended that you set up an ‘FFFI’ Account that has Debit Card and ATM access.
Using a separate account makes it easy to create predictability around expenses that might otherwise seem to be varied. You are putting a barrier in place to stop yourself from accidentally messing up your finances over the long term.

Non-Weekly Repeating Predictable Expenses - (otherwise known as 'Bills')
This will be your primary bank account where all your finances originate from.
These fall into two groups:
  • Group ONE:
Rent, Electricity, Telephone, Rates, Insurance, Planned Gifts, Regular Donations, Vehicle Registration, Memberships, Children's Lessons, Dentist, Gifts, Education, and other similar expenses.
I enter ALL expenses in the BILLS account, except for those of course in the FFFI.
  • Group TWO:
Mortgage(s) and / or Loan Repayments
These are payments or expenses you can reasonably predict into the future:
You know how much they usually cost with reasonable accuracy, or, if you don't know how much they usually cost, you can nominate an amount that will work for you.
You know how often they fall due within a yearly cycle
You know when they will occur next
If you do not know these three facts about an expense it does not belong in this list.

These fall into two groups.
Group ONE:
Things You Need. For example - White Goods, Motor Vehicles, Furniture
Group TWO:
Things You Want. For example - Hobbies, Clothing, Travel, Recreational
Where To keep This Money
Because these expenses tend to be less frequent and less predictable, you could easily spend more than you can afford on these items if you have no plan. Therefore, you should have a separate account that is dedicated to these expenses. You might even consider having multiple accounts for different goals, hobbies or desires so that you can easily identify how much you have available for each one.

Sooner or later you will have to pay for repairs to something you rely on. For example - White Goods, Motor Vehicles, your body, etc.
Many people believe that the seemingly untimely need to repair something they rely on every day was an unfortunate unpredictable event.
However, everything breaks down sooner or later, so it is important to put funds aside in anticipation of this.
Be prepared for the unplanned and unexpected by creating a proven Spending Plan.

This group contains items you rely on in living your life. This would also include replacing items that you have just for fun if you can afford to include them. Examples - White Goods, Motor Vehicles, Furniture, Computer
Want to learn where to keep and how to manage this fund or money?
The Spending Planner (software) will easily show you how to save for these type of expenses.

Think long term for financial peace!


These also fall into two groups:

Group ONE:

Larger Life Goals: These are bigger events you want to make happen, and you have a time frame in mind. For example, retirement, an overseas holiday, big dreams and desires.

Group TWO:

Unpredictable larger expenses:  These are expenses that you don't really know when or even if they will occur, but you need to be prepared for them just in case. For example, a major car repair bill, a child's future university education, a medical emergency, a child's wedding, and similar.

Where To Keep This Money

Talk to a financial planner for investment/retirement advice. Your Spending Planner may be able to connect you with someone if you do not have one.

For other big goals that do not fall under the retirement or investment banner use our spending plan to plan and track this money by setting up separate accounts under your savings list. This will keep this money easily identifiable.

Time to get our head-out-of-the-sand and be honest with ALL the six (6) ways YOU spend money. Then create a plan (Spending Plan) to be prepared for all these expenses.

The Spending Planner (software) goes beyond budgeting. Adding the missing dimension of TIMING!

Want to learn how to organize and manage the six expense types?

The ANSWER is creating a Spending Plan in the Spending Planner software.

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Essential Spending Planner