With stagnant wages growth, rising housing and health costs, and utility prices going through the roof, we seem to be spending more on essential household items and less on discretionary goods. Savings continue to be under pressure and the fact is that many Australians will be under prepared in the event of an emergency. So how can you possibly get ahead in such circumstances?
Do a budget
In my last book, The One-Page Financial Plan, I made some suggestions that may help you. The most important is the simple process of awareness through a budget. By creating a budget, as mind-numbing as that can appear, it can change your life because you become more aware of where you and your partner are spending your money. You can download my budget spreadsheet at hendersonmaxwell.com.au/free stuff.
Get on the same page
It’s very difficult to maintain your budget if you have a partner, potentially a non Money magazine reader, who isn’t on the same page as you. I’ve seen figures indicating that around 60% of couples argue over money, so expressing yourself in a constructive and respectful manner can literally pay dividends. We spend so much time finding partners who share our values, and financial values are just as important when it comes to maintaining a comfortable and stress-free lifestyle.
Ask for a pay rise
Esta historia es de la edición October 2017 de Money Magazine Australia.
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Esta historia es de la edición October 2017 de Money Magazine Australia.
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