Budgeting tools to keep you on track

Now that you’ve managed to save your deposit and have set up your home loan, you will be starting to see the impact of home loan repayments. It is very important that you manage your finances and spending so that you always have enough to cover your home loan repayments.

Budget for your peace of mind

You may have set up a budget when you were saving for your deposit. You just need to update that now with your home loan repayment. If you don’t have a budgeting tool, you may find it beneficial to get one set up. 

Knowing where you are tracking with your finances can relieve the nervousness of having a home loan – and keep your new-home spending under control! You just might need to save for a few months to get that new sofa…

At preapproval stage?

If you have just got to a preapproval stage, then now is a great time to get orgnanised and set up your budget. You may wish to start saving for any moving expenses, new furniture or maybe just prepare for when your home loan repayments start. 

Free budgeting tool

ASIC’s Money Smart free budgeting tool enables you to:

  • work out where your money is going
  • create your own custom items
  • save your results online so you can keep checking in
  • download templates for your own use

https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/mobile-apps/trackmyspend