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Budgeting

Top 10 Budgeting Tips This Easter

Are you ready to hop into Easter? It’s just around the corner, which means holidays, events, family gatherings and more are all upon us. For a time of year that’s so full of fun and celebration, it’s so easy to blow your budget and overspend.

While it might seem a good idea at the time, it eventually will catch up with you as you work to pay it off. So, let’s avoid going into debt with these top 10 budgeting tips this Easter.

Top 10 Budgeting Tips This Easter

Easter is almost here, which means now is the perfect time to tighten those purse strings and start saving. Here are our top 10 budgeting tips this Easter:

1. Shop the year before

This one takes a bit of planning, and won’t help you for this year! But, once Easter is over, stock up on decorations and outfits for the following year. They will be heavily reduced so you can grab yourself a bargain.

2. Take advantage of free and low cost community and local activities

Easter is the time of lots of school holiday events, and these can certainly add up. Look around for things you can do for free and opt for that instead. Like heading out to the beach for the day or going on a bushwalk.

Check your local council for Easter holiday activities within your community. The Budget Mom also has these ideas…

3. Look for Easter savings

Whether it’s food or decorations, specials are the key. Plan your Easter menu the week before and browse online before you shop so you can plan your purchases without impulse buying (it’s tempting when it is all so cute). Op shops may also have some great bargains – they will have their Easter decorations out.

Kmart and Target are also great places to find low cost toys that the kids will love. If you want to take their minds off chocolate for a minute, there are loads of Easter activity toys and plush bunnies for them to treasure.

4. Cull the excess without the fun

Kids don’t need loads of gifts at Easter – that’s what Christmas is for. Get back to basics with smaller, budget-friendly gifts from the Easter Bunny. Sometimes a book and a toy can replace some of the sugar. Children can build wonderful memories that remain long after you’ve found that last little egg in the sofa cushions.

5. Have everyone bring a dish

If you happen to be hosting this year, make your job easier by asking family and friend to bring a dish. This not only saves you plenty of time in the kitchen but also offers financial relief in the process.

6. Buy low-cost Easter accessories

While it can be fun to dress up for Easter, but you don’t need a whole new outfit for the occasion. Find something in your cupboard in Easter colours and spruce it up with a pair of bunny ears for added fun!

7. Get cooking (on a budget)!

Easter treats can be expensive, so why not bake them at home instead? There are plenty of ideas over on Pinterest to get you started.

You can also check out these budget-friendly recipes

8. Create a Easter budget plan

With the help of the Australian Lending Centre free budget planner, you can stay on top of your finances all year round! Take 5 minutes to fill it out here.

9. Get crafty for Easter

You can also save on the decorations with a few DIY projects at home. It’s the perfect way to keep the kids busy during the holidays while having the house filled with Easter fun.

10. It’s OK to say no

It’s all about setting your budget boundaries. If you’ve gone over your budget for the week, then reign the spending in the following week. Switch a trip to the cinema for a night at home with movies on the couch. You can make popcorn and treats and still have fun without blowing your budget.

While these top 10 budgeting are a great start for the holiday season, it’s important to have a budget you can stick to throughout the year.

easter-budget

Top 10 Budgeting Tips

Of course, these budgeting tips shouldn’t just be for Easter time. You can apply them to any holiday period and set yourself on the path of financial stress. If you’re after more top 10 budgeting tips, then go ahead and get this budget planner calculator.

It will help keep you on track with your finances all year long, so you are in the best position possible. Of course, life does come with unexpected surprises, and there may be times where you find yourself short of debt and needing to take out a loan to tide things over.

This is a great option to have! It can be just what you need to get back on your feet financially and give yourself a fresh start. If you do need a loan, make sure to factor it into your budget straight away so you can get on top of your repayments and make sure you don’t miss any along the way.

Taking Out A Loan

Despite our best budgeting efforts, sometimes we are left with no choice but to take out a loan to get the financial help we need. If you find yourself needing a loan, Australian Lending Centre can help you out.

We offer a variety of services from debt consolidation through to Bad Credit Loans, Debt Management and Refinance. No matter what financial position you are in, you can get access to the money you need – fast. This will help you get back on track with your budget and in control of your finances once again.

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Financial Fitness Financial Planning

6 Top Budgeting Tips To Get Ahead

With a cycle of endless expenses and bills cropping up left, right and centre, it can be hard to get yourself ahead financially. The holiday period makes this even harder with work slowing down, parties to attend and presents to buy, it can almost feel like you are throwing all your money away as soon as it comes in. So how do you get ahead?

Here are our 6 top budgeting tips to help you get on top of your finances and put you back in control. With the right budgeting tips, you can plan for events like the festive season and set yourself up with a buffer, so you can still save and not fall too far behind.

6 tips to effective budgeting

6 Top Budgeting Tips

After some top budgeting tips to help you get ahead with your finances. Tackle these, one by one and you will find the money will slowly start adding up in your savings account. There is nothing more important than having a buffer to fall back on when expected expenses crop up. Here’s how you can manage it.

1. Keep track of your spending: this doesn’t mean just the big purchases. It’s amazing how fast the little things add up and go unaccounted for. Think about how often you buy a coffee when you are out? Or duck to the shops for some more milk? These are just small expenses, but they can add up over time.

You want to track every single expense and write it all down in a spreadsheet. Doing this over the space of a month or two will give you a great indication of where your money is going and what expenses are adding up unexpectedly. From here, you can start cutting down on some of those non-essentials (sorry coffee!) and making some changes to your spending habits. Rather than taking the time to create and update a spreadsheet, there are many apps out there to do it for you. Thebalance.com have an article comparing the best 10 expense tracker apps.

2. Set yourself a weekly budget: you should have a budget set up for all your income and expenses. It should include insurances, school and daycare, Foxtel, groceries and more. Every little detail needs to be budgeted for. On top of this, you need to set yourself a weekly spending limit. This is a great way to allow yourself to indulge on a few luxuries, without going overboard. Clean Credit breaks down the top 3 best money-saving apps in this article here.

You can even save up your spending limit between weeks for bigger purchase items. The idea behind this is being aware of your spending, rather than just ‘allowing’ yourself to make lots of small purchases. Having to save for items will make you much more aware of their real value and have you questioning whether you really need them.

budgeting tips

3. Leave the cards at home: Another one of our top budgeting tips is to leave your credit cards at home. How easy is it these days to just tap and go! It’s so convenient, but it is also quite dangerous as well. All these little purchases can add up without you even realising. The best idea to control those impulses? Leave the card at home. Simply carry cash that’s within your budget, so you don’t even have the means to spend beyond it. It’s simple, easy and a great way to curb that spending.

4. Pick up a side gig: do you find yourself spending your nights out, socialising and spending far too much money? Why don’t you keep yourself busy with a side gig instead? Consider putting up a spare bedroom on Airbnb, taking up some freelance writing, or helping with babysitting. Instead of going out and spending money, you can put your spare time to use earning a little more. It will help build that savings account of yours and will leave you better off in the long run.

5. Plan your meals: just a little planning can go a long way in helping you stick to your budget. Think of how often you resort to takeaways because there is no food in the fridge? Or buy lunch out as there is nothing at home to bring with you. Planning your meals for the week will help prevent this and save you the dollars.

6. Get a better deal on your mobile and utility bills: look at your current phone plan. Have you paid off your phone, are you nearly at the end of your current contract? Do you need all the data that your have? Do really need to upgrade or can you stay with your current phone and use prepaid? Talk to your energy company about your current plan. Ask if there is a more budget friendly plan where you can save money. Shop around.

Think ahead to what you are doing each day and try and stick to one weekly shop. Grab everything you need and make an effort to cook and eat it all during the week. You will save plenty of money by managing your meals this way, and it’s much healthier too.

budget effectively

Budgeting Tips & Finding Help

With these top budgeting tips under your belt, you will be able to start saving and get ahead with your finances. If you are finding yourself pulled down by debt and need a little extra help getting out, then contact the professionals at Australian Lending Centre.

With services such as debt management and debt consolidation, we are here to help. We can take a look at your individual circumstances and find a solution to fit your needs that will see you out of debt and back in control of your finances again.

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Debt Consolidation Debt Management Financial Planning

10 Steps To Get Out of Debt

If you find yourself in debt, which many people have since the COVID19 epidemic, it’s important to remember you aren’t alone. Whether you have made some bad financial decisions, or things beyond your control have occurred, such as unemployment, injury or illness, there are ways you can get back on track. There are many benefits to getting yourself out of debt, such as an improved credit score and lifts in mental health, so while it may feel daunting at first, a simple few changes you can make a huge difference to your lifestyle. Here are 10 steps to get out of debt.

10 Steps to get out of Debt

1. Put your debt in perspective

The first of 10 steps to get out of debt is to look at where you currently are. Answer the following questions:

  • How much debt am I in?
  • What interest am I paying on these debts?
  • How many debts do I have?

If you can make a note and get in a clear head about where you stand, you can prepare a way forward to get on top of it.

2. Set a budget

This is the best way to oversee your finances. It takes into account how much you are spending each month and on what. Start by writing down your income, and all your fixed expenses each month. This includes insurances, medical and food, dining out and entertainment. Take this away from your income and see how much is less. If it’s less than zero, then you can clearly see you are spending more than you earn and need to make some changes. See where you can cut down. Then, allocate a certain amount to paying off your debts. If you are after a spreadsheet to note all this down, there are plenty of free options on the internet.

3. Start paying!

Start paying off from highest interest rates to lowest, this will save you money in the long run. It is referred to as ‘avalanching’. This means the debts that are costing you the most in interest will be paid off first, before tackling the next one.

4. Lower your interest rates

ext step, it is worth looking at whether you can lower your interest rates. Having high-interest rates can make it much harder to pay off the debt. The easiest way is to contact your lender, and simply ask. If you have a good history of paying off your payments, it can help you succeed.

5. Consider Debt Consolidation

If you don’t manage to lower your interest rates, take a look at whether debt consolidation could be an option for you. This is the process of taking out a single loan to pay off all your other loans. This has the advantage of getting you a better interest rate and helping you keep on track with paying off your debt. Everything is in one place and you make one payment a month – not multiple.

get out of debt

6. Pick up a side hustle

Ever considered renting out a room in your home? Perhaps you have a hidden talent that can get you some extra work on the side? Now is the time to pick up as much work as possible to pay back your debt in a timely manner.

7. Put away those credit cards

The one thing you don’t want while trying to pay off debt is to go into even more debt. Hide those credit cards so that the temptation won’t even be there. Out of sight, out of mind.

8. Sell, sell, sell

Another great way to earn some fast cash is to sell things around your home that you no longer need. You can use eBay, Gumtree or even Facebook marketplace to list your unwanted goods. This could give you a good cash injection boost to get you started.

9. Ask for help

If you have made all these changes but are still struggling, ask for help. Speak to your lender and see if you can renegotiate the terms of your debt. You may even reach out to the family for a helping hand to get you through a bad period. Just getting a boost to start you off can be all you need when it comes to getting out of debt.

10. Declare bankruptcy

A last resort that you want to avoid if possible is declaring bankruptcy. This will have a long-term impact on your credit file and can affect other areas of your life. It is worth seeking professional advice before going down this route and making sure you have exhausted all other options.

Looking for some professional advice? Speak to the experts at the Australian Lending Centre. We can help you pay off your debts and get back on track. By following these 10 steps to get out of debt, you will be able to change your lifestyle and live within your means in no time.

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Debt Consolidation Business Consolidation Loans Debt Management Financial Planning Short Term Loans

Coronavirus: Financial Security in a Pandemic

Financial security and pandemic. The two don’t really go hand-in-hand, do they? As if facing a global health crisis wasn’t terrifying enough, the world’s economic nosedive is hitting Australian families and individuals hard. Really hard. But as with most things in life, rest assured there will be light at the end of the tunnel. As cheesy as it sounds, we really are all in this together. Out of this strange and unwelcome period will come a brighter future for Australia and the rest of the world. So while we work on our self-isolation best practices, what are the steps we can take to achieve a sense of financial security in a pandemic?

Find out what government support applies to you

The Australian Government is currently providing financial assistance to Australians during this uncertain time. The assistance includes income support, household support and temporary early releases of superannuation. All the important details can be found here.

Be sure to also look at your state government and find out what packages and recovery efforts apply to you.

South Australia: The SA government has unveiled a $1 billion jobs stimulus package. Keep an eye on media releases and updates here.

Tasmania: The Tasmanian Liberal Government has prepared a $420 million stimulus package to support Tasmania. Keep an eye on media releases and updates here.

ACT: The ACT Government has prepared an economic support package of $137 million. Keep an eye on media releases and updates here.

Northern Territory: The Territory Labor Government’s $65 million Jobs Rescue & Recovery Plan has been introduced to keep shops open, cash flowing and Territorians working. Keep an eye on media releases and updates here.

Western Australia: The WA State Government announced a $607 million stimulus package to support WA households, pensioners and small businesses in the wake of COVID-19. Keep an eye on updates here.

Queensland: The Queensland Government has announced a $4 billion COVID-19 package to support Queenslanders’ health, jobs and businesses. Keep an eye on updates here.

Victoria: The Victorian Government has announced a $1.7 billion economic survival and jobs package to support small and medium sized businesses in Victoria. Keep an eye on updates here.

Write up a budget plan

If ever there were a time to start being conservative with your funds, now would be it. You’ll feel an alleviating sense of financial security in a pandemic if you can stick to a well-curated budget. Remember, the ever-changing economic climate brings all kinds of financial stress, so you’ll want to keep updated on what’s happening and budget around that.

Accept the current state of affairs and do what you can to work around it. Try to avoid spending as if everything is normal in the world. Evolve and adapt your spending to suit the current climate. That being said, please don’t panic buy.

Panic buying goes against the idea of budgeting for a pandemic. You might find yourself buying excess of what is necessary, being left with little funds to support other areas in need. Excessive stockpiling can also lead to price gouging, which is when the prices of certain supermarket items double or triple in price. None of us want to pay $20 for toilet roll.

Pay attention to budgetary changes

Now that you are in self-isolation, you will notice certain expenses disappearing and others rising. As you won’t be leaving the house, you will no longer be paying for petrol or for drinks or a night out. You will, however, be using electricity and water at home a lot more. Consider these variables and tailor your spending habits around them. You will need to pay close attention to what money goes where as it will be different to your routine money management system.

Carefully consider a loan

Australian Lending Centre is a leading provider of bad credit loans and consolidation loans Australia-wide. We strive to assist people who have multiple credit cards and personal loans. With the introduction of the coronavirus, we understand finances are tighter than ever. ALC can lend a helping hand. We offer a wide range of financial services and can provide a product to match your individual needs. From debt consolidation and debt management, to credit repair and low doc loans, ALC can help. Get started on your loan application here.

Look after your mental health and well-being

It may be the last on our list, but it is indisputably the most important. A healthy mental state is vital to feeling a sense of financial security in a pandemic. If you feel mentally on top of things, the finances will follow.

Avoid Fake News and Sensationalised Media

One of our top tips would be to avoid fear-inducing media if you find yourself inclined to anxiety. Although we have addressed keeping up to date with the latest pandemic news, this doesn’t mean delving deep into conspiracy theories and reading about all the tragedies. Have an understanding and be aware. Just don’t spend all your time consumed by COVID-19 news.

Stay Busy and Engaged

Try to keep yourself occupied with hobbies. Read a book. Go for a jog. Clean the house or learn a new recipe. Being homebound doesn’t have to mean being bored out of your brain. It certainly doesn’t mean sink into the couch and rotate through Netflix series’ all day.

Seek Support

Finally, seek support if you’re feeling helpless. Beyond Blue has a dedicated page on its forums to help those who are experiencing mental health depreciation due to the current global crisis. You can contact the Australian Government Department of Health on their national helpline (1800 020 080) for information on the pandemic. There will always be people you can speak to and people who can help.

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Financial Planning Debt Management

Budgeting Tips – Learn How to Manage Your Finances

There are many benefits that come with budgeting. Creating a budget is something that everyone can do. It doesn’t matter how much you earn, what expenses you have, or which stage you are at in life. They can be created specifically for your needs. In this blog, we share budgeting tips to help you to manage your finances, but first, here are some reasons you might be considering a budget:

Set and meet a savings goal

Have a big trip on the horizon? Looking into high schools for your kids? There are plenty of expenses in life that add up fast, and creating a budget is a great way to work towards them. You may even have a bigger goal in mind, such as buying your first home. Every little bit counts and budgeting will help get you closer.

Overview of your finances

You may think you are spending wisely, but often on closer inspection of where your money is going, you may discover otherwise. Often we spend blindly, thinking we are keeping track, but when we add up the numbers, it can be a shock. Creating a budget lets you see exactly where your money is going and what you are spending it on.

Improve your spending

Finally, with a budget, you can improve your spending. You don’t have to cut out the luxuries, but rather just look at cutting down in places to help you add more money to savings instead.

No matter which reason applies to you, creating a budget is a practical solution. It puts you in charge of your finances. Here are some great budgeting tips to help.

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Budgeting Tips – Manage Your Finances

Start with the Past

This may sound draining, but it really is the best way to do it. It’s best to go back about a year, so you get a full overview of all your expenses. This might include insurance and other bills that come at different stages throughout the year.

Print out your statements and run through them with different coloured highlighters. For example, use yellow for household expenses, green for car expenses and orange for entertainment. Just being able to see this at a glance will give you a good indication of where your money is going each year. And remember, a budget isn’t about cutting out bad spending. It is about being aware of where you money is going and cutting down on areas. Maybe you didn’t realise you went out so much?

Set Achievable Goals

Look at where you are and where you want to be. There is no point cutting out all entertainment expenses, just to buckle down and save. This just isn’t realistic and you will end up slipping up, which will put you back at square one. Instead, set goals you can achieve, and always allow for ‘anonymous’ expenses, such as a couple of dollars for the cake stand at school. You need a bit of leeway for these small expenses that can add up.

Open a Savings Account

Now you have a goal in mind, make sure you have a savings account set up. The most important thing when it comes to your savings account is to ensure you are earning interest on the money. Opt for an account that has a good interest return, after all this is easy money in your pocket that will give your savings a good boost.

Use cash

By using cash instead of your credit card or bank card, you will become much more aware of your spending and less likely to overspend. This is one of the best budgeting tips out there. Take out a certain amount each week and watch where it is going – don’t let yourself spend beyond this. It is so easy to tap away on a card and not even consider where your money is disappearing too.

Ring all your providers

Another one of those golden budgeting tips. This one can be time-consuming, but it is so worth it. Ring around all your providers, mobile phone, internet, insurances, etc., and look for a better deal. Often all you have to do is ask, especially if you have been with them for a while.

Stick to It

Don’t let yourself go, as bad habits will come back really quickly if you find yourself giving up. If you have the odd slip-up, that’s fine, get back on track and go again. And if you are finding it is just too hard, this may mean you need to take a look at your goals and readjust them to make them more achievable. It’s all too easy to feel like a failure if you can’t meet your goals. However, if this is the case, it is more likely that your initial goals just weren’t achievable. Budgeting apps can be useful if you are struggling to budget yourself. Money Brilliant is one of the budgeting apps available in Australia.shutterstock 1120539272 Budgeting takes hard work and perseverance, but the results speak for themselves. Use these budgeting tips to help you to manage your finances and soon you’ll be in a good position to reach your savings goals. If you need a bit of extra help managing your money, get in contact.

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Financial Planning

10 Financial Habits That Will Enrich Your Life

Financial freedom is not impossible; as a matter of fact its very achievable. All that is requires is smart long term financial habits.

Check out some of the best financial habits that will enrich your life.

50/30/20 Budgeting Rule

To control your finances, you must possess good financial habits. You can’t be a good budgeter if you don’t know where your money goes. The 50/30/20 budgeting rule is a good platform to help you get started. Track your spending to know the areas of excess expenditure. If you order Uber Eats too much, cut down on the home-delivered takeaway. If your credit card debt is high, consider debt consolidation. By following the budgeting rule, you can save more money.

Use financial management apps

Tap into a whole range of financial management apps. These useful apps can help you manage your finances and keep you on the right track to financial success.

Don’t use Buy Now Pay Later Services

Avoid Afterpay and Zip pay at all costs. If you don’t have the funds for whatever you want to purchase, wait till you do. It’s more than likely that you are shopping for a want; rather than a need.

Pay Your Bills Promptly

A desire to be in full control of your finances means that you have to manage your bills ahead of time. Late bills payment is a feature bound to stretch your paycheck frequently. So, here is what to do, pay your bills on time. If you have credit card bills, pay it before the interest accrues. That makes you save some cash, right? Let’s get rolling!

Avoid Credit Cards

When making purchases, pay using cash or your debit card. If you can manage this habit, do not use a credit card. You will spend less money when paying upfront compared to a credit card, which will have balances and extra fees as well. Avoid credit purchases if you can make the right decisions with real money while checking out.

Be Debt Free

Debts can drag you to your deathbed. It can anchor all your tragedies if not well checked. Come out of this menace. Start by minimizing your spending. Make a plan to eliminate your debts until you become debt-free!

Be fit

Staying fit is an enriching habit that can influence all aspects of your life. Whether it’s going for a walk, cycling or yoga, find what works for you. Keeping fit can help you clear your mind. A clear and open mind means better financial decisions. It a win-win really.

Have a side Hustle

Whilst a side hustle means more work and dedication, it also means more of an opportunity to set yourself up financially. Consider starting an e-commerce website, take up uber delivery, freelance on upwork or complete a task on air tasker. There are endless possibilities to make additional income.

Invest

There is no point in saving without making any investment. It’s useless swimming in cash shoved under your mattress. Make a point of making investments and be sure of getting some good returns.

Have Realistic Goals

You need to have goals, short-term or long-term. If you have unwavering lifetime goals, take a step, and accomplish the goals. Many people tend to save for emergencies or retirement. However, less understand that you can save for specific goals. You can save money for your child’s education, your dream car, or do your dream home. You will only achieve your goals if you are a determined, resilient, and hard worker.

Incorporating these simple habits are steering to your financial freedom. Enrich your life fully by only doing such practices and have a good financial habit.

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Debt Consolidation Debt Management Financial Fitness Financial Planning

How To Save Money When Online Shopping

Online shopping has become a convenient and easy way to buy what you want when you want..  Crazy bargains, heavy discounts, fast delivery, and convenience are only some of the reasons why people are shopping online. With all these ‘crazy’ bargains we are seeing an influx of people overspending. Consumers are buying anything and everything. Now – this is not necessarily bad; but if you find yourself turning into an online shopaholic, it may be time to start thinking about how you can save money when online shopping.

Here are some of the ways to save money when online shopping

Be quick or have patience

Have you hopped on to an online retailer to see the entire page full of Sales? You quickly find a nice pair of shoes. They are reduced by 15%, oh and they only have one more in stock. Luckily it’s your size. You cannot miss out? Can you? You add the shoes to your cart and away we go.

Finding a bargain can well and truly save you money, but sometimes, you’re really just falling for digital psychology – yes this is a thing!  Rather than buying with your emotion, stop, take your time and assess whether you need the item or not. If you really do need them and they are cheaper than competitors then go ahead. If however, you wait, you may see a further discount online. This discount may come later on through an email notification so don’t forget to register for their email notifications and then wait.

Search for coupons and use them prudently

The majority of people now are aware of registering to receive the seller’s email promotions. In saying so there are still a variety of online coupon providers such as Groupon that can help you save that extra cash. Search online for online coupons and use them at your disposal. Sometimes you may even be able to combine multiple discount codes. Win-Win.

Find the right days

Most companies have conducted their research into when shoppers are most likely to purchase. It is on those days that they will offer brains to draw customers in. For example, research suggests that the best time to buy clothing online is a Monday. Shoppers may save anywhere up to 50% on pants. Using that to your own advantage can be helpful. Buying your stuff on the right day will help you save. All it takes is a little research and patience.

Showcase your loyalty

Register for loyalty reward programs if you are a frequent shopper of a particular site. Your reward points on discounts and gifts will accumulate as you purchase your products. However, avoid going overboard when purchasing products to accumulate the points. The last thing that you want to do is buy something only for the sake of accumulating points. Save them and use them when you really need to.

Utilise social media

For the quickest and easiest way to catch a bargain, make sure you follow your preferred online shopping sites on social media platforms. Press the like icon on their Facebook page, start following influencers on Instagram and get on board their Twitter page. This is the easiest and greatest way to find out when products are on special. There are always giveaways and discount codes that get are available online.

Avoid overpaying on shipping

Thousands of companies allow you to jump the shipping fee if you buy goods worth a certain amount. Rather than making single purchases, consider creating a list of stuff that you need and order then all at once. When shopping online, look for websites that offer free shipping and whatever you do stay away from express shipping – unless you really need to.

Try to outwit dynamic pricing

A smart way to save money when online shopping is to take advantage of dynamic pricing. Dynamic prices can be defined as a fluctuating price that is shown to consumers depending on various factors.  These factors can include location, spending habits, current demand, and browsing history.

For example, if you’re shopping for an airline ticket, you may notice the price will change. You may have paid $500 for your first flight but when you check back on a different browser or your friend’s phone, the price has increased or decreased. There are two ways in which you can outwit the dynamic pricing.

  • Clear browsing history and cookies. This will make you appear like a new client on the site
  • Sign out all your account and use incognito mode to browse anonymously

Final word on online shopping

Use these tips to save some cash on all online purchases you make.  That can be via discounts, cash-back sites, smart tactics, shopping vouchers, and coupons. Above all avoid using buy now pay later services such as Afterpay. These services can lead you to a pit of debt.

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Financial Planning

Save Money With The 50/30/20 Budgeting Rule

Do you find yourself asking, how much money should I save? If you are already aware of your spending habits, then a budgeting plan can help you tighten your strategy and help you focus on the road ahead. The 50/30/20 budgeting rule was created by Harvard bankruptcy professor and Senator, Elizabeth Warren. In her book titled “All Your Worth: The Ultimate Lifetime Money Plan”, Warren discusses the idea of a 50/30/20 rule to help manage your budget.

The 50/30/20 budgeting rule is designed to help you organise your finances and start saving.

After-tax income.

The first step is to calculate your after-tax income. This is the amount of money that you receive on your payslip after your tax has been taken out. If you have a regular income this is extremely simple to calculate. Your payslip will outline the amount.

If you are however self-employed, your after-tax income will equate to your gross income minus any business expenses. This includes money set aside for tax repayments.

Needs

Once you have established you’re after-tax income, it is important to assess how much you are spending on your “needs” per month. To help you understand what a need is, think about the bills that you must pay each month. These bills are crucial for survival. Without these bills, it will be extremely difficult to live and work.

Some common needs include groceries, home and utility bills, transport and automotive bills, debt payments and medicine. A need does not include items such as eating out, Foxtel or your Spotify subscription. A budgeting calculator can help you go through each of these needs. It will also calculate the total amount that you are spending per month.

Wants

Do you need a new pair of runners? How about 2 week trip to Italy? Or maybe you just want to enjoy a 10-course degustation. Remember these are not defined as needs.

Your wants are just that, things you spend money on, but are not absolutely necessary. A want may include ordering uber eats, going bowling or buying those fancy runners. Wants include lifestyle upgrades. For example, you own a 10-year-old Toyota Corolla that works fine, but you are thinking of upgrading to a Mercedes.

Allocating 30% of your income to your wants may seem easy on the surface, but it requires a high level of self-discipline.  A want drives enjoyment. A want entertains you and sometimes this need for pleasure and entertainment may outweigh the need to save money. It is for this reason that saving becomes a mental struggle.

Savings

According to Warrens 50/30/20 rule of thumb, you should spend at least 20% of your after-tax income on savings. This includes allocating money into your savings accounts, paying off debt and keeping an emergency fund in place.

The minimum payment that you allocate towards repaying your debt is also considered a need. This is not included in the 20% savings. If you are saving well, you can consider making extra contributions to credit cards, mortgages or even car finance. Start by quickly paying off any high-interest debt and then move towards lower interest debt. Remember that extra contributions are part of your 20% savings contribution.

Calculate your 50/30/20 budget.

Use our handy calculator to see how much money you need to be saving each month. Simply enter your after-tax income to get started.

Is saving 20% of your income enough?

Whist Warrens 50/30/20 rule of thumb is a great tool to get you started with budgeting, it may not be an exact guide for everyone. Your financial situation plays a large part in whether 20% of savings is really enough.

Gary

As a low-income earner, Gary still has many responsibilities. He has to pay weekly rent, top-up his opal fees and purchase groceries. At the same time, he still needs to enjoy himself. Gary likes to eat out and visit museums. As a low-income earner, a 20% saving per month is quite difficult but it is manageable.

Susanne

Susanne, on the other hand, is a high-income earner. She has her own property and pays the mortgage. Susanne is single and has a range of needs that she must pay each month. These, however, do not cost anywhere near $6,600. After inputting her needs into a budget planner, she realised that she is only spending $3600 per month. This already includes her minimum debt repayments. Besides her interest in travel and video games, she does not really splurge. As such her wants are only at $2400 per month. In Susanne’s case, she would rather put the unused $4,200 towards her savings so that she can quickly pay off her mortgage.

The bottom line

As you can see, the 50/30/20 rule of thumb is a great tool for setting a budget, but it may not be entirely useful for every person. As a budgeting tool, it is helpful in building the foundation for budgeting. Chances are that if you are reading this article, you are already thinking about budgeting. Now, all that you need to do is calculate your budget and stick to it.

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Debt Consolidation Credit Card Consolidation Personal Loans

Saving Money On a Lower Income

There is a range of strategies you can employ to make saving money o. One of the major areas that can save you a lot in the long term is debt consolidation. There are also some other lifestyle choices you can make to improve your financial situation.

Many people think it is all too hard, but everything you do will help, even small changes can make a huge difference. We can all employ a range of measures that will prevent budget blowouts without sacrificing all the things you like doing.

If you are finding yourself on the roller coaster of no savings, bad debt management, poor (or no) budgeting and everything is a bit chaotic, Australian Lending Centre has some tips and tricks to get you out of bad debt employing activities such as debt consolidation, saving and feeling in control again.

First things first – Where Does Your Money Currently Go?

If you don’t yet have a budget, keep a financial diary for your pay period and track how you are spending your money. The Money Smart website offers a great money tracking app to make this easier. This will give you valuable insight into your habits and areas you can save.

  • What are you spending your money on?
  • How much is left over at the end of the pay period?
  • What money needs to go out on payments and bills?
  • Are there any areas of waste or unnecessary spending?
  • Are there areas where you are going backwards and getting into arrears?

Planning and Budgeting  – Where Will Your Money Go?

Once you have a record of what your current spending entails, get online to the Money Smart website and complete the budget tool. Be sure to include all your debts, payments, bills, and income. Mark payments and amounts in your calendar. Most bank online apps have the ability to schedule payments, so they come out when they are due, but if these are also in your calendar you won’t get any unexpected payments coming out. These regular payments can including things like:

  • Mortgage or rent
  • Car payments, car registration and insurance
  • Household/health insurance
  • Credit card payments
  • Loan repayments
  • Store card payments
  • Afterpay/ZipPay (remember that defaulting on these can effect your credit score)
  • Utilities such as gas and electricity (you may want to discuss bill smoothing with your provider – this is a regular payment over time rather than a massive and shocking bill each quarter)
  • Internet and phone

Bad Debts? Talk to the Credit Provider

The bottom line is that companies want to be paid. They are always receptive if you explain your situation, especially if you have, or are, experiencing financial hardship. You may be able to negotiate with them to reduce or put a hold on payments until you get back on top of things. Of course, you still have the pay the money back, but a hiatus on payments can help in the short term. Some credit providers will allow you to reduce the final figure if you can pay the debt outright. If they offer this, it may be time for debt consolidation. If you are too overwhelmed by the phone calls and letters, then talk to us about negotiating on your behalf.

Next Steps – Take Control With Debt Consolidation

When loans and credit cards get beyond what you can cope with in terms of interest and late payments, it might be time to call in help from the experts. Companies like Australian Lending Centre can offer a solution for a bad credit debt consolidation loan. This is where you negotiate with lenders for a reduced payout figure and then apply for a single loan that will cover all your bills in one payment with a lower interest than general credit cards and late payment fees. Having one simple debt consolidation loan payment to go out eat pay period is going to be a lot easier than trying to remember everything. The sooner you simplify your payments, the sooner you will be in an easier financial situation.

Money-Saving Tips

Turn off the TV

Are services like Netflix, Foxtel, Stan, Hayu and the iTunes store getting beyond ridiculous? Try cutting out all but the most popular one, to cut back. Turning off the TV will also help cut back on power and expose you to less spend-inducing ads. You might also have app subscriptions that you don’t need. Although these are small they can add up in a month.

Stop Hoarding and Start Selling

If you have closets full of unwanted clothes, try selling them online. A good clean out also helps you to see what your wearable wardrobe looks like so you can plan your clothes shopping to maximise your shopping budget. Also if you buy anything make sure it goes with the other items in your wardrobe. Take advantage of sales, why pay retail when most clothes will go on sale towards the middle of the season.

Look for those habits that add up

You can cut back on your habits, such as drinking alcohol during the week, smoking (probably goes without saying but your health and budget will thank you), buying coffees, can all save a surprising amount as well as having general health benefits. Limiting your drinking to the weekend can save hundreds a month, depending on your drink of choice. That bottle of wine after work at $15 a night can really add up over the week. Similarly, a $4 coffee each day is $20 a week. Make coffee at home in a keep cup and save money and the environment.

Stop using your credit card

By switching to using your debit card or cash for purchases, you will be more aware of your spending habits. It will also prevent the slide into bad credit debt.

Be frugal at the supermarket

Most of the time, buying in bulk or larger sizes are cheaper over time, so check on the prices for the larger sizes. Don’t shop with kids. Pester power is a thing and can increase your spend at the checkout. Never shop when you are hungry. Buy less meat, which is expensive, and opt for more meat-free alternatives, such as tofu, beans, and pulses.

Eat Smarter

With a busy life, planning meals can be a real chore, but while using services like Uber Eats seems like a good alternative, you are actually paying $5 on top of takeaway prices and it really can add up at the end of the pay period. By shopping in bulk, cooking healthy meals and taking the leftovers to work for lunch, you can save quite a lot each day.

Are You Missing Out On Government Payments You Are Entitled To?

Lastly, make sure you check all your entitlements with regards to government payments. As a low-income earner, you may be eligible for some form of financial support if you aren’t already receiving a government benefit. When every dollar counts it’s worthwhile claiming all you can. To check on payments and entitlements, check out the Department of Human Services. Even a small additional payment may ease your financial burden. Living on a low income is hard, but these payments are designed to help.

Small Changes with Big Returns

Once you have a clearer picture about where your money goes, you make changes to your lifestyle and start on the path to greater financial control, the happier, healthier and less stressed overall you will be.If you need help with debt consolidation, please get in touch. We’d love to hear from you.

Note: This information is general, and doesn’t take into account your specific personal and financial circumstances.

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No Credit Check Loans Business Consolidation Loans Business Loans Financial Fitness Financial Planning

Developing Budgeting Techniques for your No Credit Check Loans

The aim of this article is to give you all the tools and techniques to improve and develop your budgeting techniques so you can fully enjoy the benefits of no credit check loans.

Do you have any concrete plan for your loan the moment you acquire it?

A financial plan will allow you to do the following:

  • Build your brand without fear of not being able to support the marketing campaigns
  • Boost your sales and income
  • Reach your target market
  • Get referrals from satisfied customers

Here is a step by step guide on how to create a budget for your no credit check loans:

Understand the real meaning of budget

A budget is a piece of paper, document or app that records the following:

  • actual income
  • projected income
  • expenditures over a period of time

When budgeting for no credit check loans, you should consider the following before making a decision about spending.

What is important to me?

Are you willing to trade off a comfortable retirement for a holiday in the Caribbean? Do you want to eat at nice restaurants and charge them on credit cards, copping interest in the process? Would you prefer to pay for your children’s education instead of purchasing an extravagant model of car?

Each of us has our own priorities. Someone else’s priorities may seem to be trivial to you. A simple event can be other person’s bucket list experience. Your choices depend upon what is significant for you. Sadly, a lot of people get into debt for things that do not really matter to them in the grand scheme of things.

How do I want to live?

Nobody wants to live below the poverty line and not everyone is comfortable with debt. But, when a crisis occurs, such as family breakdown, health issues or unexpected changes, you may be forced to go into debt — which may be too great for you to handle. Thinking about creating a debt management strategy, could help you handle debts and free up a little income to meet your daily expenditure.

How can I accomplish my financial goals?

Visualise your future

Imagine what it would be like to build your brand with the income that you have and the revenue that you can get if you manage your business well. The challenge is to bridge the gap between your present situation and your vision.

You can ask yourself, ‘If I want to be that person, what can I do right now to get there?” The answer may be uncomfortable for you at first, but when you see that you are getting through with it with flying colours, you will be encouraged to continue until you succeed.

Set realistic and achievable financial goals

What are your long-term and short-term goals?

Do you wish to save $50,000 for a down payment to your dream house? Do you want to be totally free from debt in 5 years’ time? Or, do you want to save $500,000 to put up a new business outlet? Your goals should be specific. Put a deadline for each of them and review or adjust those goals until you accomplish them. For example, if you want to have a comfortable retirement, define ‘comfortable’. When do you want to retire? How much money do you want to receive each month? Where do you want to live?

Set short-term goals or those that you can accomplish in less than a year. Perhaps you want to pay off your $100 credit card debt in 6 months or save $2000 for a nice pair of shoes for Christmas.

Make a plan on how to accomplish your goals

Here are three factors to consider when creating a strategy:

  • Income: How much does your business make? Look into your net profit to have an idea of how much you can afford to save on a daily basis.
  • Consider your fixed and variable expenses, and your cash flow projections. The problem arises when there is nothing left for you to save.
  • Does your business maintain an emergency fund to cover unexpected expenses? If not, you may have to resort to financing to access quick cash and avoid possible business disruptions. If you have goals, it is important to start filling up your savings account as soon as you can.

Allocate the proceeds of your no credit check loans to meet your financial goals

If you have long-term goals, you can use the proceeds of your loan to boost your capital and eventually increase sales and income. It can also help you meet short-term goals, such as paying suppliers, buying new equipment and other urgent expenses. Budgeting for no credit check loans is crucial.

Sometimes, you have to make tough decisions to ensure that your projected income would exceed your projected expenses. You can either get a loan to raise your capital and eventually increase your income, or you can use it to consolidate your other debts and eventually save money in interests and fees.

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News

Staying on Holiday Budget with Prepaid Credit Cards

Wondering how you’re going to stay on holiday budget? Prepaid credit cards could be a wise alternative to starting the year without a massive blow to your bank account or credit line.

You are using your own money.

AusPost has a Load & Go prepaid Visa card that is accepted anywhere Visa is accepted, you can reload online or in-store, no reload fees, no monthly fees, no credit checks, no interest charges and no application form. They make it so easy a toddler chewing on an iPhone could load money and start shopping online before you finish reading this post!

Prepaid credit cards can be loaded with the funds you want to allow yourself to spend. You can safely know that once the funds are depleted, you are cut off. There is no going over the limit or a going over-limit fee. There is no interest charge because the money is all yours.

Once it’s gone, it’s gone.

You can safely spend money knowing that you are not dipping into the rent, mortgage payment, or household funds. Think of the relief you’ll have when you open that pesky credit card bill and see that you didn’t blow your entire credit line partying like a pop diva in Bali!

You saved for this holiday and you want to have fun. Load up a prepaid credit card with the funds you want to use and travel safely without the wad of cash in your back pocket and without draining your bank account or credit line dry!

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Bad Credit Loans Debt Consolidation

Common Budgeting Mistakes to Avoid

Budgeting is always a good idea because this way you can control your financial resources and expenses. But there are a few mistakes that can make a budget go awry. If you don’t want this to happen, make sure you avoid the following ones.

Budgeting Mistakes

Making it too strict

Even though budgeting is not fun at all, the feeling you get when starting it is quite exciting because you believe you can spare a lot of money. Because of this feeling, many Aussies tend to make a budget they cannot afford or respect because it’s too strict.

Many articles advise people to use the money in order to achieve the things they want, but in most cases, they also recommend to cut the budget allocated for fun, discretionary spending, or indulgences. When reading such an article and being excited to spare more for your goals, you can easily be tempted to allow no money for these activities. But not spending at all on your entertainment is not possible so that you will do it anyway. In the end, you will still dispense an amount of money for these needs, but you will be disappointed because this will affect your budget. Why end up frustrated because you were too excited at the beginning? When planning your budget, try to be realistic and avoid making it too strict. Allow yourself “fun money”, but not too much.

Planning it without a purpose in your mind

Having a goal is an excellent way to motivate you to stick with the budget you made. So what is your purpose? Why are you saving money? For instance, if you still have to pay your student loans, or you have debts, budgeting is undoubtedly a wise choice. When you know that you must save money for a particular goal, your motivation is boosted. On the other hand, it is easier not to respect a budget when you don’t have any purpose. You don’t need debts to have a substantial reason to spare money. You can think about your house renovation you have dreamed for so long, a new car, a motorcycle, etc.

Not considering irregular expenses

When budgeting, keep in mind that you must include the irregular expenses, even though they do not “pop up” monthly. Some are quarterly, others are annual, and so on. For instance, consider the holiday spending, car insurance premiums, school supplies, car maintenance, home repair projects, and pet vaccinations. Additionally, don’t forget that utility bills are higher in winter and summer.

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News

How Pet Owners Can Save on Pet Food

Owning a pet can be incredibly rewarding, fulfilling and fun over the course of your furry friend’s life, but it can also get quite expensive. We don’t always consider the long-term costs of pet ownership because let’s face it; they’re cute and cuddly so the benefits usually take precedent over the practicality. Adding a bag of dog food and treats to your shopping list won’t break your budget but there are always ways to save on pet food. Here are a few ways, and why they’re financially viable for you:

How to Save on Pet Food

1. Cook it yourself
Cooking your pet’s food sounds like extreme dedication, right? You might think that only people with plenty of free time and plenty of spare cash would bother to cook for their pets but it’s not the case. Cooking for animals can be cheap and a set-and-forget approach if you do it right. It’s very, very similar to meal preparation for yourself (or any human) – basically you purchase some cheap meat cuts, veggies that your pet can eat, and voila. Throw it all in some stock and you’ve essentially made a cheap soup that you could eat if you wanted to! Freeze it in portions if you’ve got freezer space, or keep it in the fridge and dish it out each night. They’ll love it, and it will work out better for their health and easier on your wallet. You can also make your own treats for little cost and effort! There are various recipes online for the keen owner who’d like to try making their own pet food.
2. Pay for ingredients
So if you’re not into the idea of cooking food yourself, make sure you’re not ripping yourself off by being drawn into a fancy name-brand food that is actually made of the same ingredients as its cheaper counterparts. Do some research, read some labels and don’t overpay. On that note, find out what brands or ranges of food is the best value for money. You’ll find that higher quality foods equate to smaller portions for your animal, so although you feel like you’re spending more at the time, you won’t need to replace the food as frequently.
3. Buy in bulk
This is a rule for either buying food in store or making it yourself. Keep track of specials at the supermarket as well as the pet shops to maximise how much you can save, sometimes it works out cheaper to grab a huge, seemingly endless bag of dog-chow because it will last you for four months instead of the smaller bag you’re replacing each fortnight. If you’re buying ingredients, buy in bulk when you have fridge or freezer space.

Pets are fun, but man do they eat. If it feels like your animal is eating you out of house and home – take a look at their diet. Better food can save you money; not only at the checkout but on the vet trips you won’t have to take because your dog or cat is less likely to suffer from skin conditions and organ problems. Plan ahead, save some money and make you and your furry friend’s life just that much better!

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Financial Planning

Having a Financial Plan vs. Day to Day Approach

In a month, your income may or may not be fixed. But your basic expenses can be constant. To many people, a financial plan is necessary. It can serve as a guide on how an individual can spend and manage his resources. Not all people realise the advantage of having a working financial plan, though. There are those who prefer to spend without planning and handle their money on a daily approach.

Money management logically does not naturally or easily come to everyone. A financial plan will always be helpful whether you have tremendous or little experience with managing and handling wealth. Financial planning can generate numerous advantages that can cover different aspects of your life.