Fortnightly Finances

Money management is a challenge you will face. You will find great ways to have fun on a low budget. It is easy to let your credit card blow out if you are not regularly paying bills or planning for the bigger annual expenses, which will arise such as car registration and insurance.

As you move into a shared house or Uni accommodation you can set aside a small amount of time to work out what costs are coming up, plan for them and never worry about them again.



The first step is working out your costs. First things first, set up Internet banking (If you haven't already) that way you can schedule regular payments for regular bills such as, the mobile phone, rent, food, ambulance cover, Internet and savings. Once these are set up to come out of your account the day after you get paid, the rest is play money for you to use over the fortnight.
Use the below Planner to work out your costs and then log onto Internet banking and set up a scheduled transaction to cover all these expenses.

Tip: Avoid Direct Debit wherever possible, as if your pay gets delayed an overdrawn account can cost you up to $30.00 dollars after a day or two. This is money that you could put to much better use on a Friday night. Schedule regular fund transfers the day after you get paid.

Tip: Use a pre-paid mobile if you can, that way you can recharge and only use what you have budgeted for.

Look after the $2 coins and the $10 notes will look after themselves



Budget Planner
Fortnightly Income & Expenses
Income $
Rent $
Bills
Phone$
Transport / Fuel $
Gas/Electricity $
Food $
Savings $
Annual Expenses (Fortnightly Amount)* $
*Work out the below annual expenses. Divide the total by 26 to work out how much you will need to save each fortnight.


Annual Expenses : Total
Car Insurance $
Registration $
Public Transport $
Education / Books $
Total $


See the Commbank Budget Planner online for further details:
Commbank Budget Planner