If monthly, it'll give you the monthly figure. So if you're paid weekly, it should give you a weekly expenses/budget. I've tried my best to try and match the savings figures to what your pay frequency is at. You've now got the option to put in your figure and then advise whether it's weekly/monthly/fortnightly figure and the sheet will do the rest. I also thought it was a bit stupid that the expenses were required to be put in monthly, so things like WOF's or Weekly Rent, or a fortnightly mortgage would need to be calculated before putting in. I've also touched up the American formulas, because I found everything of his was budgeted on a semi-monthly pay (1st and 15th every month), so I've made it a little more user friendly that it now matches to your pay frequency (Weekly/Fortnightly/Semi-Monthly/Monthly). I've modelled the taxcodes on the PAYE calculator found at : I've basically ripped the guts out of this and had a bit of a play around with some of the formulas.įeel free to give any commentary, I can't garuntee the accuracy on this, nor on any of the figures quoted throughout. Related SubredditsĪ couple of days someone asked for a New Zealand specific budgeting spreadsheet as per the one in /r/personalfinance. If you need to find a registered financial adviser, IFA have a search function here. Note: Nothing in this subreddit is licensed advice. Learn how to better manage your money and debt, how to save an emergency fund, and how to ensure your financial future is secure.īefore posting, check out the wiki to see if your question has already been answered! Totally confused when people start talking about their 401k, student loan interest, filing tax jointly, or any other terms that don't apply in New Zealand? /r/PersonalFinanceNZ is a spot to talk about savings and investments, KiwiSaver, debt management, home loans, student loans, insurance, and anything else you want to talk about. That’s got to be worth the 30 minutes or so it takes to put a budget together.Subreddit Rules Subreddit Discord Message Moderators About If you ever have trouble sleeping due to financial worries, having a budget helps you to feel confident that you’re not getting into financial trouble, because you’re accountable for your spending. A budget helps you to be accountable for both your income and your expenditure. By doing an analysis on your actual spending each month and comparing it to your predicted spending (in your budget), you can see if you’re sticking to the plan. Going forward, a budget provides a benchmark that you can try to live up to. Your lender will want evidence that you can afford mortgage repayments, which means capturing an honest snapshot of money in and money out. Sometimes it reveals unnecessary spending that could go towards paying off a mortgage.ĭoing a budget also prepares you for the home loan application process. Often, this is an enlightening experience. When you take a little time to work out essential expenses, as well as the ‘nice to haves’ and potential emergency bills, you get a clear picture of how much you need to live on each month.
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