Our Partners Anglicare Financial Counselling
Step 1 – set goals
List the things you want to achieve over the next year (e.g. plan a holiday, paying off debts, buying new car etc)
Step 2 – know your expenses
Add the total amount you spent last year on electricity, mortgage/rent, food etc and divide by 26 to work out how much to set aside fortnightly for bills
STEP 3 – add up your debts
Make a list of your debts (e.g. mortgage, car loan, personal loan) and include them in your budget
STEP 4 – needs v wants
Look at your spending and consider whether the things you buy are NEEDS or WANTS. Reduce spending on WANTS.
STEP 5 – create your budget
Using a ruled ledger, an excel spreadsheet or whatever suits you, create your budget and stick to it!
Top Tips for Making your Household Budget Work
- Use cash as much as possible – you will spend less than when using cards
- Keep a spending diary – writing it down makes you think before spending
- Add up your regular food costs and try to stick to your budget when shopping. Look for specials and stock up!
- Buy a supermarket gift card when you get paid and keep it in case you run out of food or fuel before your next payday
- Always make a shopping list before going to the supermarket
- Never go food shopping when hungry!
- If you find saving for Christmas difficult, try buying gift vouchers throughout the year (remember to check the expiry dates)
To make an appointment in Albany with a Financial Counsellor, call Anglicare WA on 9845 6666.
Click here to find out more about Anglicare’s Financial Counselling service.