“Budget is not a dirty word, budget is not a dirty word, budget is not a dirty word, don’t believe what you’ve seen or heard” – Sung to the Lyrics of ‘Ego is not a dirty word’ – Skyhooks 1974
Whether you’re from a generation that sang along to Skyhooks classics, or are more inclined to listen to Peking Duk, it’s likely you’ll consider the word “budget” to be a dirty one. Not having one, though, can create huge financial stress and means that many people never achieve their financial and life goals.
Preparing a budget (I prefer to call it understanding your cash flow) can help you get off the tread mill of living from pay to pay and it helps you find the right balance between spending and saving. In fact, it will tell you how much you have available to put away for holidays and your future, as well as how much you need to put aside for bills and general living costs.
Here are some tips to preparing your budget:
Remember that getting control of your money, rather than letting money control you, can be one of the most important financial decisions you’ll ever make. There’s no time like the present to start, but if you need to procrastinate make sure it’s high on your list of New Year resolutions!
You need to consider with your financial planner (or adviser), your objectives, financial situation and your particular needs prior to making an investment decision. Sensibly Pty Ltd and its authorised representatives (or credit representatives) do not accept liability for any errors or omissions of information supplied on this website
Nick Shanley, Steve May, Luke Styles and Shanley Financial Planning T/A Steve May Financial Services are Authorised Representatives / Corporate Authorised Representative of Sensibly Pty Ltd, AFSL 533923. Please refer to our website at www.stevemayfs.com.au to reference our Financial Services Guides.
Shanley Financial Planning Pty Ltd trading as Steve May Financial Services (ABN 19 612 825 180) is a Corporate Authorised Representative of (1265706) of Sensibly Pty Ltd (AFSL 533923)
Nick Shanley, Steve May and Luke Styles are Authorised Representatives of Sensibly Pty Ltd (AFSL 533923)