Friday, May 15, 2009

Getting the Budget Right



I think budgeting is a pressing matter for just about every family this year, so if you're having trouble making the budget work, try some of these:
  1. Have another look at what's coming into the house and what's going out, write out a detailed budget. www.moneyminded.com.au has lots of budgeting tips as well as budget worksheets.
  2. Treat money spent on a credit card like you paid cash for it. That way you won't keep building up a debt that you can't service.
  3. Don't buy lunches, pack them at home to save money. Try offering different things from sandwiches everyday, like leftover pizza and even mini quiche made from eggs, ham and puff pastry.
  4. If you're having trouble with your rent or mortgage, get help early and find a financial counsellor or take a look at this website - www.capaust.org which offers financial counselling through local churches that comes to you.
  5. Make a shopping list and shop just once a week. Get really good at turning leftovers into something else and using those cans at the back of the cupboard. If you're still having trouble buying food, contact a local emergency relief group or food bank, or talk to your local church.
  6. Cut down on takeaways which aren't as filling and cost more per meal. Make homemade food takeaway by eating it somewhere else, like in the backyard on a picnic rug or at the park.
  7. Buy treats like chocolate, alcohol and takeaways at the end of the fortnight or month, when you know you can afford them. Use them as a reward for sticking to your budget.
  8. Clean up around you house and see if you've got anything that's no longer needed but could do quite well on ebay or in the Weekend Shopper. Even getting a few dollars can help and having a tidier home can lift the spirits no end.

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