Feeling out of control? Don’t know where you spent that last $5? You’re not alone!! There are so many ways we can spend our money, and sometimes it’s too easy to end up out of pocket. But this certainly isn’t helpful if it means we don’t have what we NEED, or if we end up STRESSED out.
Being in control is an awesome feeling, and your money is something you definitely can have control over. Here’s a few tips to help out:
1. Work out what you NEED to spend money on regularly. Food? Bus tickets? Rent? This is different to what you WANT to spend money on, which is stuff you can live without.
2. Decide what things you want to save for, things that mean a lot to you to have in the long-term. This might be a car, a motorbike, a trip to another state or country, a house, or even a pet!
3. Save 10% of all the money you receive or earn. Put it in a savings bank account with good interest (5% is very good) and watch it GROW!!!! (Ask your Reconnect caseworker to help).
4. Work out how much money you have left over after buying what you NEED, and after you put 10% in the bank, and ENJOY it! Go to the movies or buy a new pair of shoes or buy a gift for a friend. It’s yours to enjoy.
If it seems like a big job, just do one of these steps today, and you’ll be on your way to managing your money like a pro!