Many people are often unsure about where to begin paying off debt, thinking about investment, or even creating achievable financial goals. Sometimes, we just need to address our short-term finances before looking towards the long term.

Creating a good budget and sticking to it is one of the easiest ways to start taking control of your finances.

It’s never been easier to spend money. With a tap here, a wave there, AfterPay this and PayPal that - but how many of us actually keep track on how much we are spending?

Budgeting - Where To Begin?

The first step in creating a financial plan is to take a step back and look at your week-to-week spending. Finding ways in which to notice (or monitor) your spending is a great way to begin regulating your spending.

A common answer we get when asking about how much people spend compared to how much they earn is ‘what goes in, comes out!’.

Maintaining and reviewing your budget regularly with your financial planner can be a useful tool for self-reflection. Being able to fully understand where your money is being spent and where it is when you aren’t using it allows you to more accurately set financial goals and understand your responsibilities towards achieving them.

The effects of a good budget can become evident almost immediately, and you and your financial planner can begin to work together (within your budget) to start building wealth, paying off debt, or accomplishing any other financial goals you may have.

Our advisors specialise in understanding and listening to each individual’s circumstances and developing a budget and financial plan which is tailored to maximise your wealth and financial opportunities. 

Book a FREE initial consultation with one of Barwon Financial Planning’s trusted advisors to start taking control of your money today.