It’s true we all love to spend money.

A budget is a plan that works out how you will manage your income and expenses. Maintaining a budget is a powerful way to control your money and to save money.

A budget allows you to see how much money is coming in and going out. It helps you ensure there is enough money to cover your expenses and is an effective way to make sure you are not spending more than you can afford. More importantly, a budget can help you work out how much of your income you can put towards saving for your future without impacting your everyday needs.

We often say that if you can’t live off of 70% of your after tax income you could be over spending.