No One Likes To Budget

The One-Number Strategy: Start here

We know, no one likes to budget.

That might be because your budget probably looks something like a Jeopardy! board, dozens of categories with individual numbers assigned to them. Movies for $25. Groceries for $100, please.

Sometimes, though, going into that much detail doesn’t help you see the forest for the trees—and could feel a bit restricting for the less detail-oriented among us. What if we told you there may be a better way—an alternative that helps you know whether you’ve got room in your budget to splurge on dinner out, while still making sure you’re taking your financial goals into account?

Enter the One-Number Strategy, a simpler budgeting framework that our Planners at FMS recommend, which works like this: Pay yourself first, then spend what’s left over—guilt-free. It all starts with dividing your monthly take-home pay into four categories—fixed costs, financial goals, non-monthly expenses and flexible spending. Your flexible spending amount becomes your one, easy-to-follow number.

If you are ready to set your budget, call Finance and Mortgage Solutions today on 02 8096 7388 or visit our contact page.