Budgeting – what’s the point?

Budgets and Financial Plans

When some people think about budgeting there are those that don’t need to do it and that their finances are under control, which they may well be, and there are others dread the thought of a budget as they don’t want to know how much money they waste. Whatever your reason is, you shouldn’t be afraid to tackle this seemingly insurmountable mountain. And guess what, were here to help.

 

One of the key areas that we assist with is the planning and delivery of ongoing cash flow advice. The basic principle and foundation of a successful financial planning outcome is generally regarded as spending less than you earn over the long term.

Whilst you may have core cash flow objectives such as debt repayment and/or funding of school expenses, we don’t micro manage your cash flow. Instead we test and manage your behaviour and work within the parameters of your plan. We ensure that core inflows and outflows are consistent with expectations and where deviations occur, educating you on the impact of decisions made.

We can help you take control of this but you have to take ownership. A great starting point is downloading our Budget planner (below) and completing this. If you need assistance let us know or you can bring this with you to your next review meeting and we can help and discuss the areas you are concerned with.

For couples, completing a budget together can be one of the most satisfying financial journeys you can take. It allows you to discuss each other’s financial needs and the opportunities/consequences of your financial choices.

Budget-planner

If you would like to discuss this further please call us on (08) 8272 6444 and see ask we can help.

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Disclaimer

Past performance is not a reliable indicator of future performance. The information and any advice in this publication does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. This article may contain material provided directly by third parties and is given in good faith and has been derived from sources believed to be reliable but has not been independently verified. It is important that your personal circumstances are taken into account before making  any financial decision and we recommend you seek detailed and specific advice from a suitably qualified adviser before acting on any information or advice in this publication. Any taxation position described in this publication is general and should only be used as a guide. It does not constitute tax advice and is based on current laws and our interpretation. You should consult a registered tax agent for specific tax advice on your circumstances.