Know where your pay goes

Payday looks good. But how much is really spare?

Say A$2,000 lands in your account on Thursday. Nice. But rent, groceries and transport still have to come out of it.

Rent and groceries: Rent and groceries need covering, even if the payments aren’t due today.

Transport and phone: Petrol, public transport, phone bills and other smaller costs add up before the next payday.

Going out: There’s nothing wrong with spending on fun stuff. It just helps to know what you can actually afford.

Main point: Your payday balance isn’t all spending money. Leave enough for the bills and essentials coming up.

Work out what the money needs to cover.

Before you spend it, think about what has to last until your next pay.

Start with essentials.: Start with your pay. Take off the bills and essentials you know are coming. What’s left can go towards savings and everyday spending. It doesn’t need to be complicated.

What is actually left?

You’re paid A$2,000 a fortnight and have A$900 in bills. Move the slider to see how groceries and transport change what’s left.

That leftover amount still needs to cover anything else you spend or save. It’s a starting point, not a full budget.

Know your numbers first.

You don’t need a fancy spreadsheet. A quick look at your actual spending is enough to start.

Check your last pay: Your bank app will usually give you a more honest picture than guessing.

Write down three costs: Start with housing, food and transport. Add the other costs as you spot them.

Main point: Start by checking the costs you actually have. You can make a more detailed plan later.