We’re living longer and healthier lives than ever before, which is great news. But it also means that we need to manage our retirement savings closer than ever before to ensure they can go the distance.
Retirement budget calculator
Use the retirement budget calculator to review what you spend now, as well as the lifestyle changes retirement brings. It only takes a few simple steps.
take a look at Centrepay, a free service to pay bills as regular deductions from your Age Pension payment – visit the Department of Human Services for more details
Ways to track your costs
Once you have your budget in place it’s important to monitor your spending and refine it along the way. Keep track of all your receipts and check against the budget you prepared to make sure you’re staying on track.
A realistic budget can help you to forecast spending and plan for big expenses. It’s a great tool to help with your longer-term financial planning, so your retirement savings can go the distance.
Tips for preparing your budget
Start by assessing your priorities in life, such as travelling and hobbies, along with any commitments you have
Make a list of your basic living expenses
List the things you could do without, if you needed to save some money
Then look at what income you have coming in and going out over a whole year. Your bank statements, bills, credit card statements and receipts will help you to work out all your expenses.
We know retirement may not seem a long way off - so the need to save is even greater. Our seminars can give you a head start to healthy finances down the road.