Creating a budget

A budget is one of the most important tools you have to get your finances under control. If you have a budget, and stick to it, you’ll enjoy more control over your money.

Why is a budget important?

  • Without a budget, you are financially blind as it's more difficult to track where your money goes.
  • You’re more likely to live from one payday to the next.
  • If you’re unsure about what you can afford, your financial situation is more likely to be a source of stress.


What are the benefits of having a budget?

  • Having a budget is the first step towards achieving financial freedom.

  • You will have a better understanding of your spending habits.

  • You will have more control over your finances.

  • You’ll be able to make smarter plans for the future.


How to create a budget

  1. Know where you money is going. Keep a spending diary for a first few weeks and write down everything that you spend your money on. Your diary will give you a clear record of where your money is going.
  2. When you’re ready to create your budget, download our budget template and add in your details. You will be able to quickly work out what your expenses are compared with your income. Next, prioritise where you want your money to go by focussing on your needs first.
  3. Review your budget – if your expenses are greater than your income you will need to prioritise where you want your money to go by focusing on your needs first.
  4. If you need help, you can contact the National Debt Helpline on 1800 007 007. A financial counsellor will work with you to help you create your budget. This service is free.

Budgeting tool

Use this budget template to create your own budget today.

  • Budgeting tool
    32.5 KB
    Download xls


Talk to your creditor
The sooner a creditor knows about something, the more they can help you.
Seek help
Get legal advice or talk to a Financial Counsellor about your financial position and the consequences of any debt you have.
Make a plan
Be prepared. Know your rights and responsibilities and have a solution in place when a creditor or debt collector contacts you.
Is it your debt?
Check that the debt is actually yours. If you are unsure, do not admit responsibility for it. It may be an old debt nearing the end of its legal collection period, at which time it becomes statute barred, and not recoverable. To find out more seek legal advice or call the National Debt Helpline on 1800 007 007.

Additional information

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Contact us today to organise a meeting with one of our financial counsellors.

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