Budget Planner

An integral component in obtaining a Home Loan is ensuring that you have the capacity to repay the loan. A good understanding of your income and expenses will assist in determining your borrowing capacity. The following family budget planner is a tool for you to use to gain an understanding your financial capabilities.

Preparing your Budget

It is helpful to look at your annual income and expenditure. Include regular payments such as your rent or home loan, phone, pay tv, water and electricity, car or public transport, groceries, entertainment and meals you eat out. Your bank statements, bills, credit card statements, receipts and shopping dockets will help you to work out all your expenses. Use your best guess if there’s anything you can’t find or if bill amounts vary across the year.

Add in all the income that you received or are paid each year. This could include your pay packet from your full-time or part-time job, any casual work, any government pension or benefits, child support payments and any money you earned from investments. Last years tax return and your bank statements will help you to work at your income for the year.

When working out your money priorities, think about which items you need for your basic living expenses and which are discretionary or things you could maybe do without if you needed to save some money.

Brendan Barker - Your Home Financing Specialist. Home Loans, Car Loans, Personal Loans

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(07) 3911 1190

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PO Box 374

Sunnybank QLD 4109