Build a budget that works for your life
Effective budgeting isn’t one-size-fits-all. It should reflect your income, expenses, and financial goals. We focus on practical budgeting strategies that are simple to follow and realistic to maintain. By creating a clear plan for your spending, you can stay on track, reduce financial stress, and make room for savings and everyday expenses.
Do you know how much you’re spending?
Feeling as though your debts are out of control? Struggling to stay on top of your bills? Our Budget Calculator can help you work out exactly how much you spend over the year.
| Name | Repayment frequency | Amount |
|---|---|---|
| Net salary / wage | ||
| Pension / Govt Allowance | ||
| Child support | ||
| Bonuses (net) | ||
| Investment / Rental | ||
| Childcare rebate | ||
| Other |
A budget is an estimate of your future expected income and expenses over a set period of time.
A budget will list out your income you expect to receive (eg your salary and wages, centrelink benefits and rental income). It will also list your expected living expenses, bills, loan repayments and any savings. Your income is totalled and the total of your expenses are deducted from your income. What is left over is your surplus or deficit.
A surplus means you should have excess funds available after you have accounted for all your expenses.
A deficit means you have insufficient income to meet all of your expected expenses.
If you have a Budget Deficit, you will need to look over your budget to see where you can cut back on your expenses, if you cannot earn more income.
You will need to continue to work on your budget until you reach a surplus, we at Revive Financial can assist you with this.
You can also see the pages of our budgeting booklet on “Ask for Directions” for a list of savings tips and ideas.
There are many different ways in which you can create a budget. The best method of creating a budget, is finding one which is simple to create and ease to follow.
Revive Financial has created a simple way of budgeting by using 3 seperate accounts, to ensure you set aside the right amount for the expected expenses you may have. To find out more on our simple way of budget, download our free budgeting booklet.
Related articles
