If you've ever struggled with sitting down and doing a budget, you're not alone.

The key with budgeting is to start out with some goals. When it comes to budgeting, it's important to find a method that works for you. Whichever budgeting system you choose, it can be really useful to spend a couple of weeks doing a money diary, where you list everything you spend — from big bills to coffees. Three common budgeting methods are the cash envelope method, the balanced money formula, and a traditional budget.

This video contains general information only. It should not be relied on as finance advice. You should obtain specific, independent professional advice from a registered financial planner in relation to your particular circumstances and issues.

Read more: https://www.abc.net.au/news/2019-04-0...

RESOURCES
National Debt Helpline
http://www.ndh.org.au/
ASIC’s Moneysmart
https://www.moneysmart.gov.au/
ASIC’s Moneysmart budget
https://www.moneysmart.gov.au/media/5...
Good Shepherd Microfinance No Interest Loan Scheme
https://goodshepherdmicrofinance.org....

For more from ABC News, click here: http://www.abc.net.au/news/

Subscribe to us on YouTube: http://ab.co/1svxLVE
You can also like us on Facebook:   / abcnews.au  
Or follow us on Instagram:   / abcnews_au  
Or even on Twitter:   / abcnews  
#PersonalFinance