Everyday budgeting means income is greater than expenses

Published: Wed 5 Sep 2012 09:36 AM
5 September 2012
Everyday budgeting means income is greater than expenses
“I just haven’t got enough money.”
“There’s not enough to cover my essentials.”
“I need more money to afford to live.”
These are common comments from budgeting clients, according to Raewyn Fox, CEO of the New Zealand Federation of Family Budgeting Services.
“It’s quite common for a client to come to a budgeting service thinking they don’t have enough money. Sometimes we can reduce expenses down to an affordable level – and sometimes it’s true; the client hasn’t got enough money,” Fox says.
The spotlight is on everyday money and everyday budgeting during Money Week, New Zealand’s first week dedicated to helping Kiwis learn about everyday money.
Fox says sometimes budgeting clients cannot get enough income to cover expenses. “This is sometimes true for beneficiaries as well as income earners. A budget adviser will do everything they can to help the client reduce expenses and increase income.”
But how could a person possibly increase their income? “It’s not usually easy,” Fox says. Here are her suggestions:
• If you’re a beneficiary, are you getting all the support you’re entitled to? A budget adviser has detailed knowledge of Work and Income entitlements, and might help you and your family get that little bit extra.
• If you’re a salary or wage earner, have you enquired about a pay rise? If you ask politely and can justify your request with good work, you may be surprised by what can happen.
• In order to survive, sometimes you may need to work more than one job. A small side-job can sometimes create enough extra cash to balance the budget.
• Do you gamble or smoke? Money spent on a $30 a week smoking habit could buy quite a few groceries. Quitting smoking can be like giving yourself a pay rise.
• Do you have other resources you could use? For example, if you have a spare room you could take on a boarder. If you’re good at crafts could you sell them at a weekend market?
The New Zealand Federation of Family Budgeting Services is a network of community budgeting services offering free, confidential, non-judgemental budgeting advice. Find a free budget adviser on or by calling 0508 BUDGETLINE (283 438).

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