Money Management - Young Mum's Interactive

Money Management

Money Management - Young Mum's Interactive

 

 

The first step towards living within a tight budget, is to have one!

A budget helps you to plan and have more control over your income and expenditure (what money is coming in and what money is going out) so that you can be more organised with your expenses.

 

What is a Budget Plan?

A Budget Plan is a close look at household income and expenses over a full year. It allows you to plan ahead and this is usually the secret to successful financial control. A budget plan means that each pay period a specific amount of money is set aside to meet all necessary financial commitments.

 

Why do You Need a Budget Plan?          

A budget plan makes you aware of -

-¢ how much money you spend,

-¢ when you spend it, and

-¢ what you spend it on.

It can give you back control over your finances, means that you can plan ahead, and gives you a sound base to make financial decisions.

If you need assistance to prepare your budget there are services listed in this guide that would be happy to assist you. The staff at both the Casey North Community Information

& Support Service and Cranbourne Information and Support Service are also able to assist you with budgeting.

 

For a precedent of a basic budget plan, type in -˜basic budget' in your search engine (Google, NineMSN etc)

 

 

Income Issues:

Appointments line: 13 1021

TTY Service: 1800 810 586

Customer relations: 1800 050 004

TTY Customer Relations: 1800 000 567

Retirement 13 2300

International Services 13 1673

Disability, Sickness and Carers 13 2717

Employment Services 13 2850

Families 13 6150

Youth and Students 13 2490

ABSTUDY 13 2317

Centrelink is responsible for the payment of Commonwealth government benefits and services.

Centrelink helps Australians with a one stop shop of government payments and services if you are:

- arriving to settle in Australia

- in a crisis or needing special help

- raising a family and caring for children

- unemployed and looking for work

- studying

- sick or disabled

- caring for someone else who is sick or disabled

- needing help after someone has died

- retired or planning to retire

You can call Centrelink on 13 1202 and a claim form will be sent to you or you can pick one up from your local Centrelink office. If you are not sure what you are eligible for, phone the call centre number provided and a customer service officer will advise you. Claims are generally paid from the date you call and lodge a claim, so it is best to ring as soon as possible.

Centrelink can provide an interpreter free of charge.

7 - 9 Codrington Street

Homemaker Centre

Overland Drive

Fountain Gate 3805

155 Easey Street

Collingwood 3066

Phone: 9416 1111 Advice

Fax: 9419 3552

email: wruvic@vicnet.net.au

The Welfare Rights Unit believes that all individuals are entitled to an adequate income. They have a number of services, including a telephone advice service that provides free independent advice about any social security (Centrelink) matter. They can help you with;

Working out whether you are entitled to a Centrelink payment (despite what Centrelink may have told you)

Deciding which payment is best in your situation

Working out how much you should be getting

Appealing a decision you think is wrong

Complaining about poor treatment by a Centrelink worker

The telephone service is open Monday to Friday

9.30-12.30. The number is 9416 1111. If you are calling from a country area you can reverse the charges. If you do not speak English, ring the Telephone Interpreter Service on 9416 9999, and an interpreter will ring the unit.

Phone: 13 12 72 (general enquiries)

www.csa.gov.au

Information and advise about child support.

Education Maintenance Allowance (E.M.A.)

Income assistance for Health Care Card holders with children under 16 years of age who regularly attend school.

Half of the allowance will be paid to the schools to be spent on text books, school requisites and excursions for eligible students. The other half will be paid to eligible parents to assist them with meeting costs associated with the education of their child.

Enquiries: to local school

All utility companies have an easy way payment facility available that allows you to pay a regular amount each fortnight. This ensures that you don't get behind in your payments and means that it is easier to budget because you know how much you will be paying each time. Contact your gas, electricity or water company for more details.

This scheme provides assistance with -˜once-off' grants to households in financial crisis and unable to pay utility accounts. You need to hold a health care card, be unable to pay your account, be responsible for the account and the account must be for your principal place of residence.

You need to show significant reason for your application such as an unexpected decrease in household income, increase in energy accounts or other unanticipated expenses on essential items. Application forms are available from Utility Companies.

 

Telephone accounts

Telstra bills can also be paid on a regular basis using a Telstra payment card. You can organise your bills to be sent monthly, this means you don't have to pay one big bill every three months. If you get behind on your Telstra account, negotiate to have the service changed to incoming calls only until you catch up. This   means that you can still accept incoming calls, have access to emergency numbers and you don't have to pay a reconnection fee when you have the full service reinstated.

 

Rates

If you have to pay rates, elect to pay by instalments as this avoids the necessity to having to pay a lump sum later in the year. If you are having difficulty paying your rates, contact your local council customer services centres and negotiate an extension of payment time. Regular affordable payment arrangements are often acceptable to Councils when rates fall into arrears during times of temporary hardship. Keep in mind the interest continues to accrue.