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What is a Spending Plan?

A spending plan is a financial roadmap for you to follow. It is individualized to your unique situation and will take the guess work and equally important, the stress out of managing your finances. They are created using a proven, extremely powerful money management system developed right here in Australia.




I manage my finances well, how will a spending plan benefit me?

It is highly likely that having a spending plan will help you do even better. It will show you how much you are able to allocate to saving and how quickly your savings are growing. It will actually relieve you of stress as it will reinforce how great you are actually doing!




I'm having trouble securing a mortgage, how will a spending plan help me?

Having a spending plan will help you get a mortage by reducing your level of debt, increasing your savings ability and maximising your spending power and hence the amount you will be able to borrow. Get a spending plan up and going before you apply for a mortgage and the chances of securing the mortgage you are after will be optimized.




I’m retired, what can a spending plan do for me?

When you are retired it is vital that you focus on your finances. Creating a spending plan will achieve this for you. Once you’re paying attention to money, you’ll be more likely to make even wiser choices about how you spend, save and invest. Whatever form of income you are receiving in your retirement you need to maximize your spending power and that is what a spending plan will do for you.




If I have a spending plan and my circumstances change, what happens then?

Having a spending plan does not mean that your finances are set in concrete! As things change in your life, as expenses or incomes change, you make the necessary changes and then you will have a new, workable spending plan to follow for the next 12 months.




I don’t think I earn enough money to have a spending plan. How will having one help me?

The success or failure of a spending plan does not depend on how much you earn. A spending plan focuses on your cash flow, how you have your bank accounts set up, the expenses you have and how you pay your expenses. A spending plan will help optimize your financial situation based on whatever your level of income is. When there's not much coming in, you have to be completely aware about what you do have. Creating a spending plan will show you exactly what lifestyle you can comfortably afford no matter what your income is and it will help you to stay out of the financial ‘debt trap’ even if your income is a challenge.




There are budgeting apps that you can download for a fraction of the cost of having a spending plan created. Why would I go to the added expense of getting a spending plan?

You’re right, there are plenty of budgeting apps available that you can download for free or very cheaply. They are great at letting you know what you have spent your money on in the past but they are not able to let you know, if you will have the necessary funds in 3 months time to be able to pay a larger expense such as your rates on time. Knowing how much you have been spending might be interesting but it is of little use.


You do not drive down the road looking at your rear vision mirror hoping you will get to where you want to go! You look forward through the windscreen! This is the best way I can describe the difference between a budgeting app and a Spending Plan. The past is gone and you can’t change it so recording everything you spent your money on in the past is not going to be of much use. You need a Spending Plan that looks into the future and gives you a road map for your money that you can follow successfully!




I have just left school and have secured an apprenticeship. Will a spending plan be of benefit for me?

What an ideal stage of your life to create your first spending plan. It will give you the valuable life skills of being able to manage your finances successfully right from the word go!




I am in my late 50’s, I still am paying off a mortgage and have other debts as well. Can a spending plan help me or am I too old?

You are never too old to get a spending plan and to change your financial direction. What ever stage of life you are at, a spending plan will be of benefit. As part of creating your spending plan we look at your debt levels and if necessary we can refer you onto financial planners, accountants, mortgage brokers, insurance and debt consolidation specialists who can make your debt more manageable and then we create a spending plan around that.




How much time do I need to allocate to my spending plan?

Once we have created your spending plan all you need is 5 minutes a week to check how you are going comparing your bank balances with your target bank balances as per your spending plan.




I have a small business. Can a spending plan help with that?

Certainly, spending plans can be developed to cover both personal as well as business finances.




I live in a remote location in the middle of nowhere! Can you still help me?

Yes, as long as you have email and phone access we can still assist you in creating a spending plan. Where you live is no barrier to us being able to help you gain financial freedom!