Ugh, it’s almost a swear word. After the holiday period, it’s pretty easy to hide the budget away in fear of what it’s telling you: it’s time to reign in those costs again.
What’s the positive? Undoubtedly one of the easiest ways to create wealth is by capturing your surplus, and to do so, step one is to create an expense budget. But who has time for that, right? Well, luckily for us all, we live in the age of technology. Making use of that technology can save you time and money! Here are some handy tools that you can use at no cost to you.
Setting Your Budget
On ASIC’s MoneySmart website, there’s a simple tool you can use to set your budget, Budget Planner.
Sticking to Your Budget
Remember, setting a budget is just the first step. The tools below can help you track your progress against your spending targets, and the carrot at the end will be that nice cash pile you have built up. Here are some tracking tools provided by some of the major banking providers:
- NAB – Spending
- Commonwealth Bank – Spend Tracker
- ANZ Bank – Spend Tracker
- Westpac – Budget Planner
- MoneySmart also provides information on Track Your Spend.
Now all you need to know is what to do with that money you’ve saved! A holiday, or that renovation you’ve been wanting to do…or maybe a boat, is now becoming a reality.
Feel free to come in and have a chat about the best way of allocating your savings towards your short and long-term goals.
Teneale Laister, AFP® BCom(Fin,FP,Mgt) ADFS(FP), is a representative of Alman Partners Pty Ltd, Australian Financial Services Licence No: 222107.
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