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What will a budget do?

A budget helps you understand your spending patterns and can reveal additional funds that can be utilised to make your goals a reality.

In addition, a budget also outlines areas where you over-spend and therefore slow down the accomplishment of your goals. As you near the end of your working years and prepare for retirement, the way you spend your money is important.

Creating a budget can help you prioritise your spending and saving so that you have enough money to live your ideal lifestyle once you stop working. Talk to the team today by booking a complimentary initial consultation (value $440). Give us a call on (07) 5433 5577 or complete the form below.

Middle Aged Woman Couple Magazine Over Breakfast

How do I create a budget?

  1. List all your fixed costs – the regular things that you must pay for like your mortgage, phone, insurance, groceries, school fees, car rego, petrol etc.
  2. List all your non-fixed costs – may include meals at restaurants, new clothes etc.
  3. List those out-of-the-blue costs that happen every now and again like holidays, car repairs, medical expenses etc.
  4. For one month, list everything you actually spend. This sounds boring and painful, but doing this will give you a clear understanding of what you actually spend your money on. Many people are surprised at how much they spend on little things.
  5. Identify areas of spending where you can cut back in order to save more.
  6. Work on sticking to your new budget.

Once you know the reality of your income and expenditure, you can create an automatic savings plan to help you meet your lifestyle needs and prepare for the retirement phase of your life.

Curious to find out what Ethica can do to help you meet your goals?

For additional advice on putting together your own budget, simply arrange a complimentary initial consultation (value $440)
with one of our experienced Ethica advisers – book online or phone (07) 5443 5577.

The team at Ethica Private Wealth Specialists would love to help with your budget planning and invite you to a free consultation to discuss your goals further.

Contact us on (07) 5443 5577 or complete the form below.

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