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  • Rachael Ooi

The word no-one wants to say.... BUDGET!

Updated: Sep 2, 2019

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!

General Advice Warning: 

The information contained on this website has been provided as general advice only. The contents have been prepared without taking account of your objectives, financial situation or needs. You should, before you make any decision regarding any information, strategies or products mentioned on this website, consult your own financial advisor to consider whether that is appropriate having regard to your own objectives, financial situation and needs.

 

Disclaimer: 

Whilst Your Wealth Consultants is of the view the contents of this website is based on information which is believed to be reliable, its accuracy and completeness are not guaranteed and no warranty of accuracy or reliability is given or implied and no responsibility for any loss or damage arising in any way for any representation, act or omission is accepted by Your Wealth Consultants or GPS Wealth Ltd or any officer, agent or employee of Your Wealth Consultant or GPS Wealth Ltd.

Your WC Group Pty Ltd, trading as ‘Your Wealth Consultants’ & ‘McMaster Heathfield Wealth Advisers’, is a Corporate Authorised Representative (#1260416) of GPS Wealth Ltd | AFSL 254 544 | ABN 17 005 482 726 | www.gpswealth.com.au

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