What will a budget do?

It reveals additional funds that can be utilised to make your goals a reality. In addition, a budget also outlines areas where you over-spend and therefore slow down the accomplishment of your goals. It’s also extremely beneficial for helping you better understand your money and how to best use it.

For additional advice on putting together your own budget talk to one of our Professional Investment Advisor team for a complimentary initial consultation (worth $250).

For more information on creating a budget talk to one of our Professional Investment Advisor team for a complimentary initial consultation (worth $250).

Who needs a budget?

Most people do. If you have plans to make large purchases and you’re on a limited income, if you have debt, if you want to buy a house down the track a budget is very important.

To create your own budget, all you need to do is write down all your fixed costs like rent, mortgage repayments, phone, dry cleaning, insurance, car rego etc.

Then – list all your non-fixed costs (the non-essential ones)

Next – list make a list of those irregular expenses like holidays, repairs, medical expenses and so forth.

Finally - for a month monitor everything you spend carefully. Once you have done that you will be very clear on where you spend your money, how to reduce your spending and how to save more.