Introduction

Your spending check-up shows you what’s happening with your money right now. Your spending plan is how you would like to spend your money – so that you have more money left over after each pay. You could also call it a budget.

Before you start, you need to have done a spending check-up. If you haven’t already, go to STEP 2: Check spending.

Then, think about ways to reduce your spending over the next month. Get some ideas on how you can cut back on spending here.

Got some ideas on the changes you can make? Let’s make a spending plan!

Make my spending plan

What is a healthy spending plan?

A healthy spending plan is one where

• You’re in control of your debt – you’re working on paying it off and have a solid plan for when that will happen.
• You’re spending less than you’re earning.
• You have a surplus – money left over.

Using a spending plan to support tamariki

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Sticking to the plan

It’s one thing to make a plan; it’s another thing to stick to it. Here are ways to help you stay on track:

• Keep track of your daily cash and EFTPOS spending. That way you won’t leak money on things you don’t need. You could do this by taking another 14-day challenge.
• After a month, do another spending check-up. Compare the results of your new check-up with your old check-up – have you managed to cut down your spending and stick to your plan?
• Meet with a budget adviser – they’ll help you stay on target.