Starting a Budget.


Creating a budget is a great way to take control of your finances. Whether it is to pay off debt, Save money or be financially responsible. I will take you through the process step by step make sure you have a pen and paper handy and get started now. Like I said in saving techniques you are more likely to finish a task you have already started.

Step one – write down your income after taxes. This is the amount of money we have to work with and obviously we have to spend less than this to be financially responsible.

Step two – write down all your expenses. Rent/mortgage,  Electricity, water, rates, body corporate, phone bill, internet, food, insurances, petrol, credit card repayments, personal loans etc. Turn it into a weekly figure. Also keep receipts for a week to keep track of all the little extras you buy each week.

Step three – categorise all your bills.





Personal loan






Credit card




Weekly outing





Do you come under budget?

What can you cut out to save more?

“Be aware of the little expenses, a small leak will sink a great ship” – Ben Franklin

Did you know you can set up b’pay with most of your bills and pay them weekly? By doing this you won’t have a large unwanted bill to pay each month or quarter. It also makes it easier to budget.

Step four – create a ledger to keep track of your budget either weekly or monthly to make sure you stay on track.

Step five – you have created your weekly budget, you know the exact amount it costs you to live each week, the amount you are going to save each week and you have found your biggest expenses. Now is the time to find out were you can cut costs to save more. I will post some links below to help you through this process. Can you find a cheaper internet provider, electricity, car insurance, home insurance, lower interest rate home loan, o% interest credit card to pay off debt faster. All these large expenses should be investigate to see how much you can save. I will post links below to help you complete these tasks quicker and help you start saving money faster.

Make sure you have clear goals set – Reason why you are creating a budget like saving for a home, to pay off debts or save for retirement. You can have short term and longer goals.

If you are trying to save money make sure you have the best possible savings account. High interest, Low fee’s. It all adds up.


So remember the budgeting tips and get started.

-What is your income after tax?

-Track your spending and expenses

-Start your plan

-Write your budget

-Set clear goals

-Keep track

“A budget tells us what we can’t afford, but it doesn’t keep us from buying it’ – William Feather

So remember it is your willpower that will keep you under budget and on track to achieving your goals so make sure you set them.

To find out how to save more money visit our money saving page.