F
or many of us, the word
budget
has more in common
with the word
boring
than
just beginning with the
letter B. By the time we’ve struck off
our daily to-do’s of feeding, bathing,
clothing, educating and entertaining
our clans, the only B we have in mind
is in Sauvignon
Blanc
. But experts say
budgets can actually enhance your
life in much the same way as wine:
relieving stress and inducing a good
night’s sleep. With your numbers
crunched, they say, your life will be
more relaxed.
Jessica Cutrera, managing
director with The EXS Capital
Group, says budgeting doesn’t have to
equal a lifetime of limitation. “Many
people equate budgeting to dieting
– having to give up something they
really enjoy. They see budgeting as
restrictive – limiting and no fun. But
properly done, budgeting provides
flexibility and freedom, and reduces
relationship conflict.”
With rent costs rocketing and food
prices following fast behind, most of
us would likely feel happier cutting
some costs. Budgeting, or simply being
aware of where your money goes, is
a good-sense path to spending more
wisely. It doesn’t seem to matter which
income bracket families are in, some
Tackle the family budget, once and
for all.
Elle Kwan
shows you how.
costs still come as a surprise. School
trips, flights home and even gifts can
be an unexpected drain on finances.
Although we might suspect large
sums are at stake, many of us don’t
realise the full extent of uncalculated
spending. “I meet a lot of couples
who are actually spending more than
they make – even with seven-figure
incomes – because they misjudge the
amount of taxes they need to pay,”
says Jessica. (As a guide, most financial
experts agree that putting away 15 per
cent of your wage will see you safely
through tax season, and in many cases
will leave a little additional cash to
play with.)
money
mind
over
42
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