How we make a budget for you
Our role as your financial manager is to ensure that your money is managed in your best interests and to do that, we will make a budget.
It’s important that we understand your wishes to help us best plan your budget with you.
Getting started
What is a budget?
A budget is the plan we make to outline how your money will be spent over the year.
It outlines all of your income and expenses, including:
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fixed expenses (costs that don’t change regularly like rent, electricity and telephone)
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personal expenses (for example, clothing, entertainment, holidays, other activities)
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unplanned expenses (for example, medical costs or replacing something that breaks).
Your fixed expenses are always paid first.
We review and make a new budget every year, however if your circumstances change unexpectedly, the budget can be reviewed sooner.
You can download the client budget factsheet for more information.
What is involved in preparing my budget?
When we prepare your first budget, we review and consider the financial decisions you made before the financial management order.
Every time we make or review your budget, we will contact you, your family or guardian and other important people in your life (if appropriate) to better understand your current situation and needs.
If you don’t provide us with this information, we review what you spent in the previous year to help us plan your budget. If it’s your first budget, then we use all the information provided by your family or guardian, and other important people in your life to make your budget.
What happens if I want to spend my savings or assets?
As your financial manager, we secure and protect all of your property including your money on your behalf.
When required, our specialist financial planners will review your request to access or spend your savings or cash assets by considering:
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if your request is affordable (this means you don’t need to hold on to the saving/asset for other reasons)
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your overall financial position (this means understanding all of your debts, expenses, income and savings).
If you would like to discuss your savings or assets, please speak with your Client Service Team.
They can help you understand the costs and what it means for your budget.
You can contact your Client Service Team by phoning the 1300 number on your client contact card. If you don’t know the 1300 number, contact us.