How to Budget for Rego, Insurance and Other Yearly Bills in Australia
Yearly bills aren't surprises, but they often feel like them. Car rego, car and home insurance, memberships, professional fees, and some subscriptions arrive once a year in one hit. General information only.
Step 1: List every yearly or irregular bill
Go through 12 months of bank statements and note anything that appears once or twice a year:
- Car registration (and CTP where it's separate)
- Car, home and contents insurance
- Pet insurance and vet check-ups
- Memberships, sport fees and professional registrations
- Software, domains and yearly subscriptions
- School fees and camps
Step 2: Divide by your pay cycle
Example only:
- Rego A$900 ÷ 26 = A$34.62 a fortnight
- Car insurance A$1,100 ÷ 26 = A$42.31 a fortnight
- Contents insurance A$400 ÷ 26 = A$15.38 a fortnight
- Total: about A$92.31 a fortnight
Step 3: Automate a transfer
Set one transfer on payday into a "yearly bills" account. When a bill arrives, pay it from there.
Step 4: Check if smaller instalments are an option
Some states offer 3 or 6 month registration, and many insurers offer monthly payments. Check whether these cost more overall; monthly insurance can include a small extra charge.
Step 5: Compare before renewing
Put insurance renewal dates in your calendar a month ahead and get a couple of comparison quotes. Read the product disclosure statement so you're comparing like with like.
If you're starting late
If a big bill is due soon and the fund is short, ask the provider about payment options rather than putting it on a card by default.
Make it easier
Grab the free Mini Paycheck Budget, see the Fortnightly Budget Spreadsheet (our Aussie best-seller), or try Slate Money HQ, the offline budget app.
FAQ
How do I save for car rego?
Divide the yearly cost by your number of pays (26 for fortnightly) and transfer that amount each payday.
Can I pay rego quarterly?
Some states offer 3 or 6 month registration. Check your state transport website.
Is monthly insurance more expensive?
Sometimes. Compare the total yearly cost of monthly vs yearly payments.
General information only, not financial or tax advice. Check ato.gov.au or a registered tax agent for your situation.
Try it in an app
Car & Rego Costs (A$19, one-off): Every fuel fill, toll, service and rego in one place, with due-date reminders and your true cost per week and per km.