What is a budget?
A budget is a plan that works out how you will manage your income and expenses. Maintaining a budget is a powerful way to control your money.
Read the full article for budgeting tips and to access your free copy of the Proxima Budget Template
Do you need a budget?
A budget allows you to see how much money is coming in and going out. It helps you ensure there is enough money to cover your expenses and is an effective way to make sure you are not spending more than you can afford.
More importantly, a budget can help you work out how much of your income you can put towards saving for your future without impacting your everyday needs.
Everyone can benefit from having a budget. The purpose of a budget is not to make you go without or force you to save.
It simply allows you to manage your money in a controlled and effective way and understand where you are spending your money.
What if the unexpected happens?
Life has a way of throwing us surprises. The financial consequences of these should not be understated.
Try to keep a buffer in your budget so that when this does happen you will be able to minimise any financial strain.
Remember, if something does happen that turns your budget upside down – don’t panic. Stay calm and work out how to manage these unexpected circumstances to regain control of the situation.
Click here for your copy of the Proxima Budget Template
Garvan Financial Planning
Any advice in this communication has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on any advice, consider whether it is appropriate to your objectives, financial situation and needs.
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