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Managing Debts and Spending

Dont you hate having no money? Do you spend your money on things you dont really need? Do you want to save more money? If you answered "yes" then you are like most young people. Here are some ideas on how to save money:
*   Try not to use credit cards
*   Set yourself a limit of money to
     spend a day and stick to it
*   Keep money aside in case of
*   Use public transport instead of
     using your car
*   Hire a movie instead of going to
     the cinemas
*   Get a prepaid phone instead of
     being on a plan
*   Pay your car insurance by 
     monthly instalments 
*   Dont take out loans that you
     know you cant repay
*   Record songs on tapes
     instead of buying C.D's
*   Only buy clothes that you
     have an occasion to wear them
*   Enter Competitions in
     magazines or newspapers
*   Dont ring 0055 numbers or
     numbers that charge money
*   Have a seperate savings account
*   Try not to borrow money
     from friends or family
*   Only use money that you have
*   Pay Bills before they are due
     to avoid a late fee
*   See Centerlink to find out if
     you are eligable for an allowance


Another idea to save money is to write up a budget. A Budget helps you control your money and what you spend it on. It also helps you to save money for things like bills or holidays. There are many ways to write a budget the easiest is the 123 Budget, Just follow the easy steps below:
1. Keep your recipts for everything you buy for one week. Write down everything you have spent money on during the week and seperate them into categories i.e. food, entertainment, clothes, bills etc.
2. Download the "My Budget" File below and fill it in - writing down how much money you recieve a week and what from (i.e. income/work, gifts, centerlink) and how much you spend and what on (i.e. food, clothing, bills etc.)
3. The total income and expenditure should be the same amount. The following week, try to put more money in the savings and less on other things like entertainment, clothes etc.

Click here to download a 'Superplanner'

If you are still having trouble saving or are in debt - speak to a financial counsellor.

Click here to find your nearest financial counsellor

Website designed and produced by Amanda Francis (C)