Start learning how to budget and save THOUSANDS in the process!
Lately we have had a ton of new enquiries for people wanting help with their finances. It’s a position that we are grateful to be in because it allows us to meet with people from all over AUSTRALIA and from all walks of life and solve their problems. One of our most recent discovery meetings was interesting…
The brief:
The person wanted to travel the world and had timelines and destinations in mind but no savings, or savings plan implemented to support their goals.
What they had tried:
They were working with another budgeting provider who took control of their finances, paid their bills for them, and provided them with all the tools (app etc) to help provide clarity on their budget.
What we discovered:
No savings plan in place, living week-to-week, had been with this provider for the last 5 years and had paid in excess of $10,000 for the privilege.
They then asked us ‘what do you think I should do with my money?’
Our response was simple, ‘you need to take back control of your money and learn how to budget yourself.’
Step 1 – Get clear on your financial goals.
Step 2 – Get clear on your budget.
Step 3 – Understand where your money goes.
Step 4 – Take back financial control and learn how to budget yourself (and save THOUSANDS in the process!).
If in the interim you choose to remain with your current provider, speak to them about a savings plan and ensure that you are ‘paying yourself first’ by taking at least 10% of your income and putting it into a savings account that you do not touch – not now, not ever and live off the remaining 90% of your income.
Say you are earning $1,000 per week… this strategy will provide you with $100 per week (not much), but $5,200 per year of untouched, genuine savings.
If your current provider is costing you $50 per week to utilise their service, then when you leave your current provider keep saving the $100 per week, and then ADD in your weekly fees to your savings account (further boosting your savings). This change would equate to $150 per week allocated towards savings, or $7,800 per year – simple changes that have massive impact.
These two changes have been applied without taking into account bills, weekly spending, lifestyle costs etc which would be the next area to focus on. The key is, it’s the little things that can be done to get us ahead if we know that we need to do them.
Cutting back another $50 per week within your budget would allow your savings to grow to $200 per week, $10,400 per year which would be a strong start to achieving savings for world travel. Small tweaks that don’t take much, only a little that goes a long way…
Stories like the above scenario are way to common and sadly we come across them all the time but it doesn’t need to be this way. Since 2018 we have been helping people to take back their power, gain confidence, clarity and control of their cashflow and save THOUSANDS in the process.
If you are serious about your financial goals then give us an opportunity to show you what we can do for you.
Isn’t it time you reclaimed your power and learned how to manage your budget yourself?
