Creating a household budget is an invaluable tool to help you prioritise your spending and manage your money – no matter how much or how little you have.
We have created a budget calculator tool which contains most common incomings and outgoings for a typical New Zealand individual or family.
What will the budget calculator do for me?
The budget calculator is a snapshot of your financial situation. Initially it will enable you to see how your income measures up against your expenses. Think of it as a financial fitness test to see how things look.
What will the budget tell me?
It will give you an indication of how you are managing on an average week. You can use this information to identify whether there are areas of overspending, or how to boost your own income.
What do I do with it once completed?
Once completed, the budget will either result in a surplus or deficit. If your result is a deficit, then you may want to seek help from one of our Financial Coaches.
Deficit = You’re spending more than you earn
What can we do with a surplus?
If your budget results in a surplus, great! You can reallocate this to pay debts faster, or you could start saving.
Surplus = You’re spending less than you earn