Financial capability workers share budgeting and saving tips
August 31, 2018
Financial capability workers s...
My top two tips would probably be to
open a separate
so you can
take a section of your pay and put it away for
an item you may want to save for or even just in case of emergency.
And second would be to keep track of
your spending and where your money is going to give you a better idea of how
you can help start saving.
I’d give them the advice to always think
about what they’re spending their money on
and why they’re spending it. Always think about
what you actually need
rather than what you want,
and try and always save as much as you can
at the end of each payday.
If you go shopping in you pay in cash you always have
loose change at the end of it so putting that in like
a tip jar or a change jar and then that’s another way
to definitely save up some money which
you can use for a holiday or reward.
Often you’ll see people that will take out all their money
at one go when payday comes around and it just won’t
last until the next payday. So,
they might be fine for a week and then for the next week
they’ll kind of struggle until the next payday again.
If everyone could manage their income it would stop
people from borrowing, or gifting, from one another.
And I know there are certain relationships that you cannot say no but that’s something that
the Aboriginal community needs to sort out and
not for anyone else to tell them how to spend their money.
A lot of the videos on the MoneySmart website
are really helpful to teach clients about different things
revolving around money – saving, budgets, debts and everything.
It’s a really good website.
Not even just for the clients but for myself as well I
enjoy using the budget planner
It’s given me a really good insight into how to save
better in my own life so I feel like that really helps
for me, to transfer that information on to clients when I’m helping them.
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