Any person or household that earns and spends money should have a budget. No matter what your income level—low, high or in between—budgeting is your key to managing your finances.
Interestingly, there’s a common misconception that high-income earners don’t need budgeting assistance. Not true! A high income is not an automatic guarantee of good financial management. In fact, high-income earners often have expensive lifestyles that demand even more budget control.
Income is only a small predictor of financial success. Having a proper plan in place to keep track of your finances is a much more reliable indicator.
Individuals and households that have a budget are far more likely to be financially fit. That’s because how much you spend is more important in money management than how much you earn.
Think about it this way… Would you invest in a business that didn’t have a budget? Without a budget in place, you would have no way of knowing if the company’s goals were realistic or achievable. You would have no way of tracking or projecting income and expenditure, or identifying opportunities for cost-cutting or savings. It would be like trying to build a house without a floorplan.
The same principle applies to your personal situation. Without a proper plan, your finances are left to chance. Only through budgeting can you develop a clear picture of your current situation and a projection of your future.
Wouldn’t it be great to see your finances mapped out in front of you?
Who needs budgeting assistance? Just about everyone. Australia’s personal debt levels are at a record high, and most households could benefit from budgeting help.
MyBudget assists thousands of people every year by designing personalised budgets that suit their particular needs. We are the largest personal budget assistance service in Australia.
Simply book a consultation over the phone with one of our friendly experts.