Resource | Why is budgeting important?

Published on: 21st August 2024

Welcome to our Auslan Resource Library! 📚 The library features Auslan videos on a variety of day-to-day topics. Over the coming months, we’ll be highlighting some of our favorite videos. Today’s video discusses the importance of budgeting and the things you need to consider when you make a personal budget. 💰

Want more resources in Auslan?

Deaf Connect is pleased to the launch of the Auslan Resource Library.

We consulted with the community about what kinds of information you would like access to, and have started publishing videos on topics like finance, government systems, technology and more.


Visual description of the thumbnail:
The image shows a woman with short blonde hair, wearing black rimmed glasses and black t-shirt. She signing “What?” and has a questioning facial expression. The text “Auslan Information Resource Hub: Budgeting” is displayed next to her, with a note “Produced by Deaf Connect.” The background is a light, abstract pattern.

Transcript:
Is budgeting important? Absolutely. Budgeting allows you to know where your money is being spent, with who and what for. Also assist you in saving for a holiday, a new car, or any incidentals that pop up that you know that you’ve got those backup funds.
You can get your money through your wages, Centrelink income, or other sources of income. As a part of life, we need to spend money on things like bills, which includes housing, electricity, phone, internet, and insurances. We also need to be able to buy food, put petrol in our car, public transport, for example, buses and trains. Medical expenses like the doctor and dentist, among other bills. And if you’ve got children, well, you need to spend money on school, sports fees. And if you have a pet, you’ve got to spend money on their food and any incidental vet bills.
It’s good to know that you’ve got the funds set aside. So the money that you earn, you need to know how much you allocate to spending and saving so you can ensure that you’ve got enough for a little spoil yourself fund so you can go and get a haircut, you can go shopping for clothes, attend social events and know that you’ve got the money to cover that, as well as put some aside for something big, to go traveling, to buy a new house. The money that you earn, you need to ensure that you’re able to spend and save, and that’s known as budgeting. So you know exactly how much you need to pay and when. What’s the frequency? Weekly, fortnightly, monthly, to that you can enjoy life and know that you’ve got the money to cover what you need. You’re able to pay your bills and have money set aside for savings.
You can start budgeting via a spreadsheet and documenting how much you need to pay the frequency of payments and how much you’d like to save as a part of your goals. So then you can work out what you have left over. You can also use the Moneysmart Budget Planner. Budgeting is an important part of life to ensure that you know your money.

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