Budgeting is:

Be Smart with Money

  • Boring? Yes.
  • Time consuming? Often.
  • Important? Definitely!


According to the Australian Bureau of Statistics (ABS), the average annual ordinary time earnings for full-time adults in Australia in November 2019 was $86,268. This is $66,039 in your hand after tax.

On the basis of this, during the average working lifetime, from roughly the age of 25 – 65 the ‘average Australian’ earns $3,450,720; pays $809,160 in tax; and ends up with $2,641,560 in their pocket.


Are you putting your money to good use?

Here are some handy hints to make your money work better and stretch further:

  • Do you have Netflix, Hulu, Stan, Disney+, Spotify, Audible, or Apple Music? Are you really using all of your subscription/streaming services? If not, cancel the membership. You can always go and sign up again later if you want it.
  • Are you going away on holidays where you won’t be using your gym membership (or are you just really unmotivated this month)? Many gyms have the option to put your membership on ‘freeze’ for a period of time while you aren’t using it and it only costs you a small admin fee, rather than the full contracted amount.
  • Monitor how much data you consume on mobile phone each month and see if you can move to a small plan.
  • Take advantage of reward programs. Reward programs such as flybuys, woolworths rewards and velocity are a great way to be rewarded for things you are already doing such as grocery shopping or fuelling up your car.
  • Shop around! This applies to many different services such as your electricity, car insurance, private health insurance, and phone bill. Many companies are willing to offer you discounts to switch or discounts to stay.
  • Use apps/website like petrolspy.com.au to scope out the cheapest place to buy your fuel.
    On certain occasions, this website has saved me over $16 at the bowser just by picking the cheaper fuel station. This can really add up if you fill up weekly.
  • Do you have a mortgage? Have you contacted the bank to see if you are eligible for a rate decrease? If they are not willing to come to the party, you could look at refinancing to a different bank with a better rate or lower fees.
  • Do you rent? Have you considered getting a roommate to share costs? Roommates don’t always need to be long term. Depending on where you live, you may be able to enter into a short-term arrangement with a university student or back packer.


If you would like to learn more or need help getting on top of your finances ask us about our cash-flow management program.