Instead of budgeting, more and more its not uncommon for households to become reliant on credit to supplement their incomes. Relying on credit instead of budgeting will lead to stress and a debt problem that can be hard to deal with. Keeping track of your spending and making the decision to start and then maintain a simple budget is a good way of taking control of your finances.

Although many people contribute to superannuation, or are beneficiaries of compulsory superannuation, the contributions typically fall short of ensuring retirees will be able to maintain their current standard of living. Budgeting is a simple way of helping people to smooth-out their cash flow during their “financial life-cycle”.

At one time or another we have all known someone who has not been game enough to open their credit card statement for fear of knowing the state of their financial position. I say to people in denial that – “avoiding the situation only makes it worse so the next time you receive your credit card statement make sure you don’t ignore it, so you can start taking control of your financial future.”