Budgetting is Brilliant, Not Boring

I am going to start this one with a little yes or no quiz for you to follow:

  1. Do you ever get your credit card statement and your eyes almost bulge out of your head as you struggle to fathom the amount you owe is that high?
  2. Is there something that you wish to purchase (could be a house, new car, or that really expensive watch you’ve been eyeing off for way too long), but you know you simply cannot afford it?
  3. Are you living week-by-week, fearful of not having money for a potential ‘rainy day’?
  4. Are you in denial about your bad spending habits?

Did you answer yes s to at least one of the above? If yes, then incorporating a personal budget in your life would most probably benefit you greatly. Fun fact – I am not naming names, but a couple of my team members just discovered that they probably need a personal budget in their lives too!

So what are the benefits of having a personal budget?:

  1. It ensures that you don’t spend money that you don’t have
  2. It helps you make a plan to reach your financial goals
  3. It helps you prepare for emergencies
  4. It sheds light on bad spending habits

Preparing and following a budget is the single best way to take control of your finances as it helps you understand the coming and going of money in your household. But don’t be scared, budgeting isn’t as dull and boring as you first think. With the right tools and ongoing monitoring, it’s actually quite simple to follow and has great long-term benefits.


There’s so many tools out there that you can use to prepare your budget. You can do it manually, Microsoft Excel provides templates, you could have your accountant prepare one for you, or (our personal favourite) you can use online calculators. Check out the Money Smart website, this online resource is genius!


This one speaks for itself. How will a budget work if you don’t intend to implement and follow it? Before you make any household expenditures (groceries, school fees, clothing) refer to your budget and see how much it is allowing you to spend. This prompts you to question, do I really need this? Does this have to be purchased right now? Are there any cheaper alternatives?


If you are finding you have a lot of left over money, the budget is obviously working. We suggest you find ways of using this surplus to benefit you in the future, like saving it, investing it or making super contributions. Also, financial circumstances do change so it is a good idea to review your budget every 6 months to make sure your preparations are accurate.

Whilst we recommend you always stick to your budget, what’s life without a bit of indulgence? If your budget allows it, take the family out to dinner, take that little vacation or do a little shopping. But the key here is, even in times of indulgence, remember to always be focused on your goals and don’t set yourself up for failure.

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