Create a budget.

Why is a personal budget so important?

Let’s face it, the idea of setting up a budget can seem overwhelming and even a little tedious.  However, it is well worth the effort as a budget can help you stay ahead of your bills, save for a future goal or weather unexpected events.

We are here to help make budgeting easier with our ‘do-it’ yourself’ budget planner. 

Let's review your financial position.

Now you’ve calculated your Budget to understand your current financial position.

How do you know what a ‘good’ budget looks like?

One easy way is to see what percentages you are using on spending and savings by using the 50/30/20 rule:

• the basic idea is that you use fifty per cent of your salary on your life necessities or needs such as your food, mortgage, rent, transport and bills
• thirty per cent is for your wants, those unnecessary but fun things we all need to make life enjoyable e.g. clothing, holidays, going out
• the last twenty per cent is used for debt payments, retirement planning and savings.  

Of course, you can adjust the percentages to tailor to suit your current circumstance.

Think about whether you could make any savings in your non-fixed costs.  These are costs that vary from time to time like shopping, groceries or going out.

Add these small savings to any leftover funds after your regular bills have been paid to contribute towards a savings goal.