Budgeting for the Future
Most of us, at one time or another have wanted to commit to managing our finances better and make an effort to start budgeting. Even though budgeting is not complicated, many of us don't know how or where to start.
It's due to dividend imputation, which was introduced to remove the double taxation previously paid on Australian share dividends. Let's look at how it works and can add value to your investment returns.
Your finances may have changed due to the introduction of the GST with income tax cuts, and there is no better time than now to review your finances and put together a budget or make adjustments to your existing budget.
To help design your own budget, Police Credit Union have a new booklet BUDGETING - MAKING IT EASY which looks at the whole process: from taking the first step of calculating a practical savings target to controlling your spending and lifestyle expenditure. The booklet also contains a cleverly devised annual budget planner and budget planner worksheet which can be useful to plan for both predictable expenses and unscheduled bills.
Most of us have experienced the stress of trying to find the money to pay bills, when you've already spent last month's pay cheque. The budgeting booklet aims to alleviate this stress by helping you save money and plan for the future whilst structuring your spending in a way that allows you to have enough money to do the things you want.
The key to achieving your financial goals lies in establishing a budget that is both sensible and workable for you. One of the most important things to remember is that it's no use following someone else's budget. If the budget is too ambitious or inflexible it is unlikely to be followed. A successful budget is one that is realistic and easy to follow and most importantly suits your lifestyle.
One of the common misconceptions of budgeting is to consider it as being set in concrete. This makes life difficult if your circumstances should change unexpectedly. A sensible budget is flexible, allowing you to make alterations should you need to. The booklet can be used as a guide to learn the techniques from which you can establish your own budget specifically tailored for your needs.
Those who use BUDGETING - MAKING IT EASY sensibly will see that planning ahead need not be restrictive or boring, but can bring sound financial benefits and help you to control your own financial destiny.
Download BUDGETING - MAKING IT EASY NOW!
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