Okay, let’s be real for a minute. The word budget is the financial version of “he-who-shall-not-be-named”. Are we right? Or are we right? Budgeting means supplementing money spent on potentially unnecessary things to make way for more necessary things. We want to change the stigma on budgets and encourage people to be excited to take charge of their money.
Budgeting doesn’t just mean sacrificing, it means reallocating your money customised to your spending habits.
Having a healthy relationship with your incoming and outgoing expenses relaxes your expectations when big bills come in. Here are our tips for paying bills and being able to have a wine while you do it!
1. Use ASIC’s Budget Planner calculator
2. Commence ongoing transfers to bill companies (rates, water, rego) – paying as little as $15 / wk to your rego could mean you’ve already paid a whole years worth of rego.
3. Take money out at the start of the week for lunches and limit yourself to spend only that allocated amount – for example, $50 for the whole week means $10/ day lunches
– EVEN BETTER – prepare lunches from home.
4. Break down costs based on income frequency. If you’re paid weekly, work out annual expenses / weeks, if you’re paid fortnightly, work out annual payments fortnightly.
Call us bias but a chat with a specialised financial planner can also give suggestions to ease your budgeting blues. Let’s talk budgets together!