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- Common questions about cancer and finances
- How do I prepare a budget?
How do I prepare a budget?
Step 1: Track your spending
Keeping track of how much you spend for a couple of weeks will help you learn where your money goes. You can:
Step 2: Choose a time frame
Decide if your budget time frame will be:
It can be helpful to choose the time frame that matches your pay period.
If there are expenses you only pay once a year:
Step 3: Write down your income
Your income is all the money you have coming in.
Step 4: Write down your expenses
Your expenses are all the things you spend money on. Examples include:
Step 5: Work out the difference
To work out the difference between your income and expenses:
Once you have prepared your budget, review it regularly, as your income and expenses may change.
If you need help preparing a budget, talk to a financial counsellor. Phone the National Debt Helpline on 1800 007 007.
Podcast: Coping with a Cancer Diagnosis
Rania Tannous, Head of Legal, Corporate, Legal and Governance, AMP; Patricia Troll, Senior Legal Counsel, AMP Financial Services Legal, Legal and Governance, AMP; Lynette Brailey, Program Coordinator, Financial Assistance Service, Cancer Council NSW; Stephen Bray, Financial Planner, FM Financial, TAS; Angela Daly, Senior Social Worker, Cancer Services, The Adem Crosby Centre, Sunshine Coast Hospital and Health Service, QLD; Sandra Hodge, Consumer; Sandi Johnson, Consumer; Antony Mitchell, Financial Counsellor, Financial Counselling Program, Cancer Council VIC; Lucy Pollerd, Social Worker, Peter MacCallum Cancer Centre, VIC; Heather Richards, Consumer; Deb Roffe, 13 11 20 Consultant, Cancer Council SA.
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