Does any of the following sound like you...
- A big expense hit you like a tonne of bricks?
- You need a better car?
- You want a bigger house?
- Or perhaps you feel you want to go back to tech or university.
What do you do to pay for this? Like most people perhaps you...borrow, borrow and borrow some more? Or you are one of the few and you don't. Either way, do you know your financial situation at any moment in time? That's where a budget can help!
Did you know: By creating a budget you will know exactly how much money you have coming into your bank account and how much is going out.
This may help you juggle some money to actually be in a position to pay that big expense.... However if you do not have a set budget worked out, you might not have a clear picture of your money situation. This may tempt you to borrow more money, rather than be in a position to juggle some existing expenses and look for extra income sources etc. It is definitely better in the long term for you to sit down and spend time preparing a basic budget for you and your family!
If like many others you are under financial pressure, doing your budget should be your first step to getting your finances back under control. It will help you see clearly what is happening with your money (where it all goes) and make you think about how you spend it from then on.
We all know sitting down and actually creating a budget can be a frustrating task. Sticking to it can be even harder. Once you have created your budget, it is super important to stick to it.
It is easy to understand how careful budgeting can improve a financial situation. And we all know that fewer financial problems mean less stress. But here's one of the best benefits: Working together on a budget can help your relationship with your partner! In today's world, with money arguments being one of the largest causes of divorce, managing your budget can relieve financial stress on your relationships and make everyone's life better! But we know that always being practical, careful and responsible can be overwhelming
Have we convinced you yet that working out a budget for you and your family is a great idea? We truely hope so.
If you're not sure where to start, the New Zealand Federation of Family Budgeting Services (Family Budgeting) can help.
What is Family Budgeting?
The Family Budgeting Service operates 148 community based budget services nationwide which offer free, confidential, non-judgemental advice.
Trained budget advisers specialise in showing you how to manage your finances, including managing debt and people you may owe money to. Family Budgeting has helped thousands of New Zealand families get themselves back on track.
How can Family Budgeting help you?
Family Budgeting can give you short term support to get through a rough patch, as well as longer term support if you need it.
Trained budget advisers provide a range of services, including:
- Information to help you make better financial decisions.
- Ongoing financial counselling
- Active involvement in managing creditors
- Help to manage a drop in income, or change in financial circumstances (i.e. a new baby or divorce)
Contact Family Budgeting
Call free on 0508 BUDGETLINE (0508 283 438) to talk directly to a budget adviser who can give you immediate assistance, or for directions to the Family Budgeting Service nearest to where you live. (Office hours are from 8.00am - 4.30pm, Monday to Friday)
Note: Advisers from the New Zealand Federation of Family Budgeting Services don't charge for their time.
Understand your position
Whether you talk to the adviser over the phone or in person, it will be worthwhile gathering as much information as possible to help you and the adviser understand your circumstances. This includes:
- Your financial papers showing income, expenses and debts
- Current bank statements or print outs
- Any letters or bills from creditors in relation to current or overdue debts
- Copies of any contracts you have in relation to the debts in question
- Any other information relevant to your situation
For more information on how the services of Family Budgeting may be of assistance, please make an effort and visit www.familybudgeting.org.nz