Budgeting NZ – How to create a budget that works in 3 easy stepsย 

know your running cost

Budgeting, NZ style. We’re here with a 3 step guide to budgeting bliss ๐Ÿ˜.

We want kiwis everywhere to feel good about their finances, so read on to see just how easy it can be!

At Alternate we think budgeting, NZ style is easy as … 1, 2, 3

  1. Get real with your finances 
  2. Decide what’s important to you 
  3. Use a budget calculator to get you on the road to financial freedom! 

So let’s have a look at these more closely shall we? ๐Ÿ”Ž

Key Takeaways ๐Ÿ”‘

  • You must prioritise debt management when formulating your budget.
  • There are several ways to get control over your debt, including debt consolidation loans.
  • You can still enjoy doing things you love and have healthy finances, by creating and effectively sticking to a budget life becomes easier and more stress free.
  • Using a budget calculator is one of the easiest and most convenient ways to get control of your finances.

1. Getting real with your financial situation, sort out your debt ๐Ÿ˜–

We’re living in a fast-paced world and at Alternate we understand that spending can be a little hard to keep a track of without a proper plan in place. What’s really important is to get a clear picture ๐Ÿ–ผ๏ธ of your finances. 

Know what your income sources are, how often they’re deposited, and they’re dependability ๐Ÿ’ช

In today’s modern society, multiple sources of income are an aim for most. With budgeting, it is important to know how much money you’re genuinely expecting and what’s your baseline income is that you can rely upon. That’s your foundation for building your budget. 

Effectively handling your debt ๐Ÿ’ธ

Smart finance is about making informed decisions with your money to maximise your financial well-being. In order to do this, we also have to address the elephant in the room ๐Ÿ˜, your debt.

If you’re in control of your debt and are finding it easy to make your repayments, then wonderful. If not, or you think you could manage them better, there are options for you to consider! 

Debt consolidation loans are amazing for organising your debt in one place. You can then manage your debt effectively into a manageable monthly sum, that will then go into your budget. There is so much advice online, but most of the time it’s much easier to pick up the phone and talk to someone who knows what they’re talking about!  

2. How to organise your budget – deciding what’s important to you โœจ

Smart finance is not about depriving yourself of life’s pleasures but rather about making conscious choices that align with your values and priorities. If you get more joy going out for meals vs. buying new clothes every month, then you would take this into account when building your budget! Do you have a big savings goal you’re working towards? Tailor your budget around you. 

Enjoy your spending money! ๐Ÿ’ฐ

Of course, we all have monthly expenses that need to be accounted for; groceries, fuel, rent and the like!

When you have a budget that works for you, you can make sure that you cover all of your bases, AND that you have spending money for the things that you love to do! ๐Ÿ˜ Life should be enjoyable, and we shouldn’t feel like we are just surviving. 

So how do we know what spending money we have to work with? One way that you can effectively manage your budget is by using a budget calculator. 

3. Budget Calculators – the key to smart finance ๐Ÿ”‘

Budget calculators are powerful tools that can help you create and manage your budget more effectively.

These online tools allow you to input your income, expenses, and savings goals, and then generate a personalised budget plan. Budget calculators can help you see your financial picture clearly, identify areas for improvement, and track your progress. 

How to use a monthly budget calculator ๐Ÿงฎ

Using a monthly budget calculator is extremely straightforward.

Start by gathering information about your monthly income, including wages, salary, and any additional sources of income. Next, list all of your monthly expenses, including rent or mortgage payments, utilities, groceries, transportation, and entertainment.

Once you have entered all of your financial information, the budget calculator will generate a budget plan that shows how much you can afford to spend in each category. You can then adjust your budget as needed to meet your financial goals and priorities! Decide where you would like to use your spending money, how much you would like to save and whether you would like to invest! ๐Ÿ’ต

3 steps for successful budgeting, NZ โœ…

So let’s go over our steps for successful budgeting: 

  • Be realistic: When creating your budget, be honest about your income and expenses. Avoid overestimating your income or underestimating your expenses.  
  • Prioritise your spending: Decide what your financial goals are, whether it’s a focus on saving or investments or enjoying life a little more. Cover your bases, hit your goals, and enjoy. 
  • Use a budget calculator: Make managing your finances easier by using a budget calculator.

Some extra tips for budgeting success! 

  • Track your spending: Keep track of your expenses throughout the month to ensure that you stay within your budget. Use apps or online tools to monitor your spending and identify areas where you can cut costs.
  • Review and adjust: Periodically review your budget to see if it is still aligns with your financial goals. Make adjustments as needed to accommodate changes in your income or expenses.
  • Stay disciplined: Stick to your budget and avoid impulse purchases or unnecessary expenses. Remember, you created a budget tailored around you! So sticking to the plan will ensure you get where you want to be whilst still enjoying your every day. 

Need some help with your finances?

Get in touch with us at Alternate finance. We would be more than happy to help you on the road to financial freedom!


Ash is a professional content writer with extensive experience in business development in the financial services. Ash has founded businesses from the age of 19, including franchising ventures, and working alongside some of the largest retailers in the world.

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