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Don't do a budget

Wait…what? Don’t you always tell us to do a Budget?

Yes I do BUT, don’t do a budget if you are never going to look at. It’s useless.

Why not try a cash flow process or program instead.

What is a cash flow program – well it is similar to a budget but it has more detail and that detail can be tailored to your needs.


How to get started:

  • Prepare a list of income – this might include your salary, rental income, distributions and anything else you know you will receive

  • Prepare a list of your expenses, try and include everything from the obvious bills and repayments to the little things like gifts, clothing, entertainment, coffee etc

  • Now add future expenses – that is things you are saving for or hoping to buy in the next 12 months, this could include a Christmas budget (2024 as 2023 is too soon), or a one off capital expense like a new car or holiday

Now you have the information you need and you can start to tailor this information.


For example you might want to go and look at annual and quarterly expenses and what months of the year they fall to allow for expensive months. You might like to tailor the cash flows for the months when you receive a bonus or perhaps when you take a holiday, you are self employed and don’t get paid. This all has to factor into your budget and there are many ways you can be prepared for these periods of time.

You should be also be looking at your bank accounts atleast once a week – to see what is coming in and going out and then check if its in line with your expectations.


And lastly – if you are struggling to monitor it all – we have a cash flow monitoring system that can do it all for you (it will need a little bit of input from you). We charge a small set up fee and a monthly fee and send you all the reports you need to monitor your cashflow and make sure that you are making meaningful decisions with your money.


Please call Stephanie from the Amplify Team to learn more on 1300 318 681.


While all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Tanya Carlson, GPS Wealth Ltd nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.


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