![]() Once you know your means (income) and your expenses, you can begin building an accurate budget that lets you comfortably cover your needs and your wants. You’ll want to ensure you have some “wiggle room” in your budget for these sorts of fluctuating charges. For fluctuating payments like those utility bills, look at how much your costs go up or down each month. Tally these up to get a sense of your average monthly spend. These might include taxes, license renewals, or bills for municipal services.īegin by reviewing your bank and credit card statements and making a note of each expense. Some expenses are regular and expected but are not payable monthly.Speaking of utility bills, they can fluctuate, making it difficult to know what to expect each month.Technology makes it easy to “set and forget” automatic debits, such as subscriptions, mobile apps, and utility bills.People may not like to face up to how they spend their money.Next comes the “hard” part: identifying and listing all of your regular expenses. Once you’ve tallied up your income for the month, you’ll have a firm grasp of what’s within your financial means. Review your bank deposit statements to identify all of your income sources. Income from family trusts or court settlements.However, you may have additional sources of income, including: Your spendable income is what you earn after taxes. If you’re like most people, you earn your income through employment. But don’t worry, it’s easy to get started if you break the process down into two simple steps: 1. For many, this first budgeting step is intimidating because they’ve never paid close attention to their financial habits. Living within your means requires knowing what you earn each month and what you spend each month. As financial planner Michael Kitces notes, a good budget helps you spend less than you earn, so you always have money left over for savings, emergencies, or that holiday gift budget. ![]() Find out more and book into a program soon.How Do You Make a Budget That Works for You?Ī doable budget is one that’s within your means, but what does that, well, mean? Your means is essentially your income. This is why Food Sensations for Children offers information like this and more, specially designed for families with kids. For families with young children, it can seem hard to balance healthy eating with meal planning, budgeting and meal prep. Tips like these are the same as those covered and explored in Food Sensations® for Children, proudly supported by Telethon. The best days for meal planning are those where you have routine, as these are the days you may be less spontaneous with eating and more likely to stick to your plan! Big tip – meal plan for work days rather than non-work days. Even just meal planning for your cooked meals can help save money by only buying what you need, reducing food waste, and reducing the likelihood of buying fast food. Meal planning doesn’t have to be for every meal, every day of the week. grating cheese, making freezer meals, chopping vegies) to save yourself time on the busier days. If you can, dedicate one block of time a week to do some bulk cooking or food preparation (e.g. Don’t forget snacks in your shopping list meal plan- if you include these in your meal plan and have them on hand, you may be less likely to reach for the more expensive and less healthy options. Meal planning doesn’t have to be strict or boring. Compare unit prices to select better value for money. Shop smart: stick to the list, don’t go hunger, shop around the perimeter of the shop & only go down the aisles you need, shop online.List: create a shopping list ensuring to include all 5 food groups (we recommend ordering your shopping list by food groups, as these foods are often grouped together in the supermarket, and it also helps you to see what food groups you might be missing!).If meal planning for multiple days/meals, think about how you can use some ingredients in different meals if there may be excess. Plan: create a meal plan for family meals/meals on the go (use the internet, Foodbank recipes, borrow recipe books from the library for inspiration on what to cook, if you are tired of cooking the same things).Stock take: check what you already have in your pantry, fridge and freezer (to avoid buying more of what you already have, and to plan meals around what ingredients need using up).Meal planning goes a very long way in saving time and money, makes shopping easier, minimises impulse eating and takeaway, promotes healthier food choices and ensures food variety, reduces stress. Always look to freeze leftovers or excess produce or swap meals with friends or neighbours to increase variety!
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