After you have prepared a budget plan listing all your accounts and living expenses, add them up. If they are less than your income - that's great. All you need to do now is keep on line and put money on one side for future accounts.
If your living expenses are greater than your total net income you need to:
- Look at ways of reducing your expenses
- Negotiate with creditors to pay reduced instalements for a short period
- Be realistic - don't make offers that you can't keep
- Extend repayment periods permanently
- Make an appointment to see a financial counsellor who can help you to explore all options.
Families SA Financial Counselling services are free, by appointment, at your nearest Families SA office.
Step 1 - Why prepare a budget plan?
Step 2 - Preparing a budget plan
Step 3 - Interactive budget planner
Step 4 - Payment of utilities and accounts
Step 5 - After you have prepared your budget plan
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