Find out where you can make savings and reduce expenses based on your current financial situation using the budget planner calculator.
How to use the budget planner:
1. To move through the planner, use the arrow button at the bottom of the page or click on each of the heading tabs at the top.
2. Enter information in as many fields as possible – you don’t need to complete all fields.
3. Once finished, email us to organise confidential assistance with planning your budget to meet your home loan goals, based on your current financial situation.
Budget planner – Online budgeting tool
The importance of budgeting
When it comes to repaying home loans, budgeting has a main role to play. This is because mortgage payments aren’t cheap and facing financial uncertainty is a real possibility if you continue your bad spending habits.
But focusing on loan payments doesn’t mean you have to compromise your purchases on other things, particularly expenses relating to food and health. There’s also nothing wrong with spending for personal hobbies and interests.
You just need to make priorities so that you can still spend for what you want and need while avoiding getting stressed on bills piling up every month. With budgeting, you can easily control your spending and track expenses more easily. There are some expenses that seem insignificant and unnecessary at first, but adding them all up can create a huge problem on your cash flow and earnings which may take months or even years to recover.
Regular budgeting can also help you get out of debt. In this context, you can repay your loans much faster and prevent defaulting your mortgage loan. Avoid the nightmare of lenders foreclosing your newly bought house as you run out of resources to pay your mortgage!
Book a session with our mortgage advisers today!
Work with our mortgage advisers so that you can secure a home loan that works for you. Loan Market has a network of over a hundred advisers who have completed around $6 billion in mortgages every year.