Make a budget
Want to never be in debt and have a little bit of savings too? Well, a budget is what you need and to find out how to start one follow the guide below.
Outcome
To make a budget
Let's start with why it's important:
- a budget is to help you seperate your money so you can buy things you want and need and also to save money for long term goals
- if you follow your budget, you should not go into debt
Information
A budget is a spending plan based on your income and expenses. In other words, it’s an estimate of how much money you’ll make and spend over a certain period of time, such as a month or year. You can make a budget to pay off debt, to save for a big purchase or just to make sure you have enough money to cover your living costs. Watch this Money Hacks video to understand how others make a budget and stick to it.
For video transcript please click here.
What to do next
Make a budget
Ready to start budgeting? Use this free budget calculator to create your personalised budgeting plan by clicking on this button:
Use a budget app
Download the pocketbook app to help you track your savings
More Information & Services
CALL CENTRELINK FINANCIAL INFORMATION SERVICES 132 300 (free financial advice from Centrelink)
CALL CENTRELINK INCOME MANAGEMENT 1800 132 594 (counselling service for ATSI peoples available 24/7)
CALL INDIGENOUS CONSUMER ASSISTANCE NETWORK (ICAN) 1300 369 878 (available 3pm - midnight everyday for LGBTI peer support)
Australian Government's Moneysmart free financial counselling service available to all Australians
Salvation Army's free financial counselling service
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