Budgeting and Cash Flow

​One of the first questions we ask at our initial data collection stage is “have you completed a budget of annual expenses?”

 

Having a budget is the starting point for a good financial plan as it allows you to understand your fixed living costs as well as your discretionary spending. Having this knowledge enables you to determine any surplus income available to improve your financial situation.

 

Surplus income can be used for a range of things including:

• To improve your lifestyle

• To reduce your existing debt

• To invest for your future

• To save for holidays or children’s education

• To reduce your tax and grow your wealth by making contributions to superannuation.

 

If you don’t have a budget or would like to discuss the best options for your surplus income, please contact David at Hodgson Financial Planning on 0401 936 224 or admin@hodgsonfinancialplanning.com.au