Learn how to become a better saver.

If you don’t have a budget plan, you probably don’t have a very good picture of your finances. Whether you’re looking to save for your next holiday, a new car or first home our three-step guide to budgeting and planning will help you.

Here are our tips:

Step 1. Don’t be afraid of a budget.
You might be able to get by without one, but having a budget will help you stay on top of your bills, achieve your financial goals and plan for your future.

Step 2. Crunch the numbers
To ensure your budget isn’t doomed, you’ll need to track how much you spend and how much you have coming in each month.

Your budget tracking should include:
Groceries
Gym memberships
Telephone bills
Subscriptions such as magazines and TV or Movie subscriptions.
Transport Costs
Socialising
Shopping
Paying off debt (credit card or HELP fees)

In this step, you might find that there are bills for things you don’t need anymore. Understanding how much you spend will set you on the right path to achieve your savings goal.

Step 3. Set yourself a savings goal.
Now that you’ve worked out how much money you are spending and how much you have left over, you’ll be able to allocate an amount to your savings account. We recommend setting up a recurring payment into your savings account so that you’re not tempted to spend any of your potential savings.

Our three-step guide will put you on the right track to achieve your savings goals and looking after future finances.

If you need more assistance with your finance, or if you’re looking to buy your first home SJC is here to assist and help you with any questions. Call us on 0409 966 500 today.