Step three: How can I make sure I stick to my budget?
"It's one thing to create a budget, another to ensure you
stick to it. I knew I needed to be reminded when my account had
gone below a certain amount, so I organised the bank to send me
text alerts. It's really helped me stay on track." Rae, Account Executive
Talking Money Sense budgeting links:
Step one: Getting started - where am I
today?
Step two: Where do I want to
be?
How can Westpac help me stick to my budget?
Click here
for Westpac's online
budgeting tutorial.
As Rae says, there are plenty of ways to stay on track with
your budget.
Click here
to find out how to
work your accounts to your advantage:
- Set up regular automatic payments
- Use direct debits to pay bills that vary from payment to payment
Let Westpac update you with your progress:
- Txt alerts (can be sent via email). Receive regular updates on everything from account balances to when credit card bills are due. Txt alerts will also notify you when a payment is made and when an account has dropped below a certain level.
Westpac gives you 10 free txt alerts if you log on to online banking at least once a month, and unlimited email alerts each month.
- Online banking: Take five minutes out of your day to pop online and check out your progress. Download transactions, keep abreast of payments and account balances; pay bills and sign up for some products online.
You can even personalise your accounts with nicknames to help
you focus on your goals, ie Hawaiian retreat, Nest egg, Speedracer
Skateboard fund.
Westpac has an online banking guarantee to help protect its
customers.
Westpac is so confident in our systems and process that, subject to
our Terms and Conditions, we make you the following promise:
"In the unlikely event that you fall victim to online fraud as a
result of using Westpac New Zealand's online banking services, we
will always reimburse, in full, all money taken from your
account."
Keep your budget achievable and realistic.
Your budget shouldn't be scary or put you under too much
pressure. Remember it's important to pay yourself, so you can
still enjoy life - like buying drinks after work.
"I was really worried about how my budget would affect my
social life. At Friday drinks we buy rounds of drinks, but it's
become too expensive for me to handle. I was surprised at my
colleagues' reactions when I said 'I'm trying to save' - they were
really understanding. It wasn't a big deal at
all." Nicci, Sales Co-ordinator
Changes to your income
Remember if your situation changes, ie you're made
redundant, you receive a pay rise, you have a child - you'll need
to adjust your budget!
Click here
for
more information on how to change your budget in the event of
redundancy, relationship break-up, or the death of a partner.
Watch the video
Click here
to watch Nicci,
Marina and Rae discuss their budgeting tips.
The content of Talking Money Sense is general in
nature, is designed for information purposes only and is not
intended to constitute financial or other advice. Information is
subject to change. Terms, conditions, fees and charges apply to
Westpac products and services. See
www.westpac.co.nz
or call into
your nearest Westpac branch for details. Westpac New Zealand
Ltd.
