Managing your budget

So now you've put all your accounts in one place, and understood your finances, how do you get out of debt? Save money for a big purchase? Set money aside for emergencies? I'll tell you how: budget. A budget is plan for your spending and saving and essential for financial success. They don't have to be difficult, your budget should be tailored specifically to you and be something you can live with and stick to. So let's get started with setting up your new life partner, your budget.

Set your budget

When creating a budget you will need to know exactly how much money you earn, how much you currently spend, and how much you definitely have to keep spending (these are regular or automatic payments such as bills and debt payments). To clearly understand how much you are spending and where, you will need to categorise your transactions into detailed categorises for various areas in your life. From there you can set spending targets on each category and a daily limit that you can stick to.

Track your budget

Once you have set a budget you will need to regularly check it to make sure you are spending within your limit. Changing your spending habits can be difficult at first but don't get disheartened! Get back on track and fix your mistakes and adjust your budget accordingly. It has to be realistic. Soon you will find that living with a budget can really help you save money.

heaps! keeps you on track

heaps! is a fantastic budgeting tool that will keep you on track with your finances. Your money is clearly shown through graphs, categories, figures and colours so with just a quick glance you will be able to see whether you are overspending or staying within your budget. heaps! also allows you to make adjustments to your budget so it can suit your lifestyle perfectly.




What is heaps!