BUDGET TIPS
MONEY SAVING TIPS
Small changes can make a big difference to your bank balance. Change one thing you do regularly and you could save money. Some examples are: give up drinking coffee or cut down on alcohol, cancel your gym membership and walk instead, make your lunch at home, reduce your bank fees, borrow books and DVDs from the library, check your bank statements, set a limit for birthday and Christmas presents or give homemade gifts, share gardening tools and equipment, use cash or an App so you know how much you spend. Download our info sheet here.
AVOID DEBT
Accumulating debt (and interest payments) will mean you are paying money but receiving nothing. Don’t use credit cards unless you are capable of paying the whole balance before the interest is applied. Switch to a ‘interest free’ card to pay an old one off. Never do ‘pay day loans’ the interest skyrockets. Avoid ‘buy now, pay later’ deals. Save now and buy later.
SAVE FOR A RAINY DAY
Prioritise your savings. If you don't choose to save your expenses will likely rule you. Be prepared for annual expenses and put money aside. Keep your savings in an account that you don’t access daily. Choose a high interest fund.
MAXIMISE INCOME
Check your award or entitlements to make sure you are receiving what you should. Rent a room or downsize. Sell unwanted things online. Register with air tasker, uber etc if you need to earn extra dollars in a pinch.
KNOW YOUR EXPENSES
Home – mortgage, rent, insurance
Utilities - electricity, water, gas, mowing
Car – insurance, rego, maintenance, petrol
Food – groceries, takeaway
Personal & medical - clothing, haircuts
Entertainment – restaurants, movies, activities
Transport – bus, train
Children – school, uniforms, books, activities
Giving - charities, religious
Other – pets, gym etc
IF YOU NEED HELP
We can help you setup a budget to avoid you getting into trouble or to help you move out of it.
Go to: www.c3cares.com.au/enquiries, email: c3cares@myc3church.net or phone: [02] 9972 8688.
BUDGET TEMPLATE
Download a budget template here.
