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As another financial year draws to a close, we’re looking ahead to see how we can make the next one even better. For help, we turned to three financial experts to find out their top tips.

She’s on the Money says, “Know your financial position and establish a budgeting and cash flow system that works for you”
It can be tempting, but keeping your head buried in the sand when it comes to money is a recipe for disaster. To take a hold of your finances, the She’s on the Money (SOTM) team says you need to be honest with your situation and identify the money you have coming in and going out – then, you can set up a budget that fits. The sooner you make a plan, the better. It’s important to remember, too, that budgets aren’t about restriction; they’re about understanding your financial position and spending accordingly! Strict $50 a week budgets (much like a crash diet) do not work – they’re not sustainable, and the SOTM girls can almost guarantee that if you take that approach you will fall off the wagon and spend more anyway.

Read their five easy ways to simplify your finances and start saving money right here.

The Barefoot Investor says, “60 percent of your after tax income covers the essentials”
How much does it cost you to keep the lights running and the kids from drinking out of the dog’s bowl? Well, according to the Barefoot Investor, you’ll be allocating 60 per cent of your after-tax household income to food, shelter and Netflix (read: fun stuff). Scott says that, roughly, an average household income will dedicate 30 percent to housing, 5 to 10 percent on utilities, the same amount on transport, 5 percent on insurance and 5 to 10 percent on food. And while this is just a guide, running the numbers yourself to find out how much it costs to run your life is incredibly powerful. 

Find out how to make a budget, Barefoot style, right here.

SugarMammaTV says, “Factor fun into your budget”
SugarMammaTV has a certain amount within her budget allocated to clothes, weekend entertainment and even a monthly massage, so she never feels like she is depriving herself. Canna’s lifestyle and financial goals, too, are in her budget to provide a strategic habit system to reach her goals. There is a monthly savings plan for family holidays, investments into her portfolio and a debt repayment plan. Factoring in her goals helps make them happen successfully and with greater ease. If she chooses not to use certain allocated amounts in her budget – for example, by choosing to have a frugal weekend – Canna can put those savings towards something extra special that wasn’t in the budget.

Learn SugarMammaTV’s budgeting secrets right here.

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haven is all about family, life and style in Brisbane's inner city suburbs, the Gold Coast, south to Byron Bay. We have been keeping parents in the know for over eight years, with fun, fresh and helpful stories that they can take tips from or treasure in their own library.