As the cost of living increases, young Australian’s are starting to budget and plan much earlier on in their lives. But as easy as it sounds, budgeting and saving is not as straightforward you might think.

If you’re having trouble budgeting, here are a few easy hints and tips to follow:

Know where your money is going
If your budget issue revolves around accidental overspending, it is essential that you get a clearer picture of what is flowing into and out of your bank account each month.

We recommend writing down how much income you make per month and compiling all your monthly expenses (e.g. phone and internet bills, rent or mortgage payments, etc.) into one document. Once you know how much is coming in and going out of your account each month, you’ll be able to cut back on discretionary spending.

Stick to your plans
Sticking to a budget won’t happen overnight but here are 4 simple tips to help you on your way:

  • When doing your grocery shopping, always make a shopping list and stick to the list
  • If you’re an avid coffee lover take advantage of the free coffee in your office instead of paying $4 at your favourite coffee shop.
  • Do you go through countless bottles of water each month? Use a reusable water bottle and refill it throughout the day. You’ll be saving money and the environment all in one go.
  • Leave your credit card or debit card at home – if you don’t have it on you, you can’t purchase that new pair of shoes you really don’t need.

Your savings mission
There is no better feeling than achieving your goals. Ensuring that your savings goals align with your mission can identify expenses that are no longer a priority, such as subscriptions you no longer use or expensive gym memberships. You’ll be surprised by how much those items add up to.

If you’re having trouble saving, our team of specialists are here to help you turn things around. Contact us today on 0422 210 122 or fill out our enquiry form.



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