Budgeting for a big occasion

Enjoy your special event without burning a hole in your hip pocket.

If you’re saving for your first home, learning to live with your current mortgage or saving for a special occasion, a household budget can be a valuable tool. And with the holiday season around the corner, it’s a great opportunity to take a fresh look at your budget and see what is achievable for you.

It’s time to ask – Do you really know where your money goes?

A budget lets you track where your money is going, identify areas where you could cut back, and provide spending limits for any big occasions. By taking a sensible, planned approach, you can start to build towards your future rather than becoming weighed down with high interest credit card debt.

Budgeting…easy as 1,2,3


Identify all your after-tax income.


List your total spending. Keep a spending diary for a week or two to identify day-to-day expenses. Use account statements to pinpoint annual costs like car rego.


Subtract total spending from your overall income.

TIPs for budgeting

Design a budget that lets you have fun

The key to budgeting is moderation. Planning for the fun things will help you live within your means and stay on track to achieving your goals.

Be realistic

Underestimating your budget can easily put you in the red. The end of the year is the perfect time to look back on your year’s expenses if you’ve just prepared them for tax time so you can see exactly what you spent.

Plan for the one off expenses

A friend’s wedding, a big birthday, Christmas. Don’t forget to account for big one off expenses that you know are coming and include them in your budget.

Allow some wriggle room

Life can sometimes bring unexpected expenses. Plan for a little bit of wriggle room and ensure that you’re reviewing your budget annually (at least).

Use the Mortgage Choice budget planner to get your savings on track!

Budgetplanner -choices