Knowing where your money goes is the first step to becoming financially secure.
Since budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you. Following a budget or spending plan will also speed up repayment of existing debt and avoid unnecessary borrowing.
ASIC has released a new, a free online budgeting resource designed to help Australians with everyday budgeting and take control of their finances, including people from culturally and linguistically diverse backgrounds – the ‘Simple Money Manager’.
As well as being available in English, the Simple Money Manager has been translated into 8 other languages. The innovative design includes an in-language audio function to help users to interact with it easily, especially those with lower levels of literacy.
We hope you find it useful!