Financial help

Budgeting

Budgeting is a really good habit to get into, even if you feel you are not in financial stress.

The value of budgeting is being in control, which boosts your sense of worth because the money's not controlling you - you're controlling your money.
Start taking control of your money today! Try our easy to use budget planner.

The key to budgeting is to:

• Be Honest
  Do you buy coffee everyday before work? Account for this in the plan. If your not sure where every cent of your pay goes then keep a record for at least one pay period to find out. Remember that the little purchases all add up.

• Be Realistic
  Can you really get by only spending $100 for the weekly family shop? If the answer is probably not, re-think to a number that is achievable and realistic.

• Think long-term
  No, you don't have to pay your yearly car insurance every week, but it does come around every year so be prepared.

• Save
  By saving a small amount of money in each pay period you create a buffer between you and any unexpected bills or expenses.

• Prioritise
  Think of yours needs vs. your wants. A need is something you can't realistically survive with out such as rent, or groceries. Put your needs into a budget first, and then budget in a few of your wants with what money is left.

• Regularly review
  Circumstances change over time, make sure your budget changes with them.

• Be Persistent
  If at first you don't succeed in your budget then try again. It takes time to learn how to effectively budget, but it's worth it. Teach your children how to manage their money early in life through getting them to budgeting with their own pocket money if they get any.

• If it's not working seek professional help
  If you can't seem to make your budget add up, and your outgoings are more than your income, seek the help of a financial counsellor, before its too late.

Start taking control today with our easy to use budget planner.

DISCLAIMER: The information provided in this information sheet is of a general nature only, and is not intended to be legal advice. There may be errors or inaccuracies or the information may not be completely up-to-date. Always check the information provided before relying on it. The information relates to consumer law in New South Wales, Australia