Start by writing down all your debt amounts, loans, mortgages, rent and write the amount down as you pay them, do not try and average the payments to be all the same frequency at this stage. Check your statements or go on-line to your accounts and see what you were charged over the last several months and add that cost to your budget. Next list your bills like power, phone, gas – take an average amount for the power and phone and gas to get a close as you can figure. Add a figure for groceries on an average basis also. It may look daunting to see everything written down together but it will help you to have this list so you can see how much you need to put aside for each bill.

To buy or not to buy Australian made, that is the question – many of the less expensive goods appear to be made overseas which can drive many budgeters to despair. I am interested in knowing if people believe that budgeters should “stay on message”. In other words buy Australian made when possible but at the end of the day “charity begins at home”, so budgeters need to balance the desire to buy Aussie with the need to continue to live within their means.

If used wisely debt can help smooth out cash flow, acquire appreciating assets and in general make life enjoyable. However, as we all know, using debt strictly for conspicuous consumption with little thought of the consequences is the same as stepping into a boxing ring with your hands tied behind your back. In other words it’s a mugs game and budgeting is a simple tool that will help to keep you on track and in control of your finances and life.