After each night I work I take out the GST (total money divide by 11).
At the end of each working week I take out any income tax (if I earn $130 or under it is tax free) according to the tax table my tax accountant has given me.
With my after-tax money I then put it all into savings (ING Direct Savings Maximiser Account - currently earning 5.45%) UNLESS I have a bill due in which case I will pay the bill.
I pay my bills when they are due or one day before they are due (this includes rent, electricity, any expenses). Otherwise I "pay myself first" by putting all my money into my Savings Maximiser account.
The majority of my bills are debit-ed to my Visa Debit Card (or the bank account my Visa card is linked) so all I have to do is make sure the right amount is the bank account. I do not use any credit.
I keep a balance of $100 in my "spending" (everyday) bank account. I allow myself that much to spend when and if I want it. However I always make sure that I have $100 min. balance (I don't get charged any account keeping fees - the bank gets its money in other ways).
I have unlimited withdrawals with my ING Direct Savings Maximiser account that's why I keep my money in there not a normal "everyday" bank account. I just withdraw it from that account into my nominated bank account whenever I need it.
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