Category Archives: Money Saving Tips

Ready for March madness? How to budget for fun.

Have you budgeted or March madness?March is just around the corner and it’s the month when Australia comes alive with festivals and concerts. There’s much to look forward to, so let’s talk about the importance of budgeting for fun. Big financial goals are important, but it’s great to have smaller goals in your budget, too. Fun stuff—like budgeting for a concert ticket or a night out with friends—provides a sense of achievement while you chip away at your long-term goals. Continue reading

The rising cost of weddings

Love is free, right? Not according to Bride To Be magazine. Their annual survey has found that the average cost of a wedding in Australia is now over $54,000, and nearly half of all bridal couples go into debt to pay for their big day. Find out where all that matrimonial money is going and see how your wedding budget compares.

More Australians going into debt to get married

The wedding industry in Australia is worth a whopping $6.6 billion a year. So, what is all that money being spent on? The reception, honeymoon and rings continue to represent the largest, single expenses, but bridal couples are finding a myriad of other ways to spend money.

There is, for example, a growing trend for hens and bucks to holiday with their respective friends instead of holding a traditional party. Bonding trips were especially popular among surveyed bridegrooms who, on average, spent over $1,800 celebrating their final days of single-dom. The surveyed brides quickly caught up in the spending department with wedding day hair and makeup costing more than $1,500 on average. This figure does not include pre-wedding health and beauty considerations, such as gym membership, personal fitness training, weight loss programs and skin care. To capture memories of the day, videography is becoming increasingly popular with couples spending nearly $5,000 on average for professional photographic services.

The good news, however, is that nearly all wedding expenses are optional and a beautiful wedding can be achieved at a fraction of the average cost. Check out MyBudget’s other wedding planning resources:

 

Budgeting for love (video blog)

BUdget for loveDid you know that Australians spent over $800 million dollars on Valentine’s Day last year? That’s a lot of flowers and chocolates. The same amount of money would buy a week’s supply of groceries for more than three million families. That’s why this month’s video blog is all about finding more meaningful, less expensive ways to say “I love you” on Valentine’s Day.

Tammy May’s February 2015 video blog

Still want to buy something for your Valentine? Here are 10 gift ideas for under $10: Continue reading

How to choose the right insurance for you

Importance of insurance in your financial strategy

“This article first appeared in ‘Samara Magazine’, and online magazine for women interested in business and entrepreneurship. Please note that this information is general in nature and is not intended to be a recommendation for your specific circumstances.

Personal budgeting expert Tammy May explains why insurance should be an essential part of your personal finance strategy.

They say that the only thing constant in life is change. How true. Yet, while it’s impossible to predict the future, it is possible to safeguard your finances against some of life’s more common risks. That’s where insurance comes in by providing an extra safety net for you and your family should things not go to plan. Continue reading