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  • Writer's pictureVictoria Wallis-Smith

How to fix your budget

Having a budget (at Nutshell we call it a cashflow plan) is not something you do once, and it’s set in stone – it changes over time, and needs to be maintained.

Money Coach. Fix a Budget. Money Management. Cashflow Plan.

But there's two key issues to keep in mind:

  • You need to have an approach to cashflow that works for you; and

  • Your cashflow plan needs to reflect your current goals and priorities.

But it used to work!

Often, we start well – we understand the basics of our cashflow, and we have a plan that works. It aligns with our goals and we fill our savings buckets. Tick and tick.


But we start to forget that managing our money takes some time and energy – and we don’t put in the effort it needs. Then gradually, life changes and juggling your money begins.

And by life-changing, we’re not just talking about the big stuff like a new job, having kids, doing a renovation, or moving house. It’s also the small changes that creep up and can leave us unstuck.


When there’s a small change in our life, we barely notice the difference it makes to our cashflow plan – you’re rushed in the morning and buy lunch as a once-off.


But then that one-off expense becomes a couple of times a week, and then most days. That gradual change will have an impact on your cashflow, but it creeps up on you.


Is it time for an update?

Let’s identify the signs so you can stay on the front-foot with your everyday money management:


Sign #1: You aren’t sticking to your cashflow plan

You were fine for a while but now it’s a juggle. You decide you want to buy X and either use a credit card or take money from your savings to do it. There’s a disconnect.


Sign #2: What goals?

If you don’t feel excited about your financial progress, your cashflow plan has little purpose.


If you don’t know what you’re trying to achieve with your money – what your goals are – then there’s a problem.


Sign #3: You find any excuse to ignore your everyday money management

We've all experienced having a task that we just don’t want to do, finding any excuse to ignore it. But that doesn’t make it go away – if anything, it just gets bigger.


The good news is, it doesn't have to be that way. At Nutshell Money the focus is making money simple... and fun!


Where to start

You don’t have to start from scratch – although if your approach to money management really isn’t working, a money coach is a fresh set of eyes on the problem.


But for now, let’s just focus on an update… and start from the top down:

  1. What are your goals? Your priorities? Where do you want to be with your finances in 6 months’ time, or a year, or 5 years? Make those goals a reality by adopting a ‘pay yourself first’ approach.

  2. What are the essential and discretionary expenses – and don’t guess! Print off the last 6 months of statements and get out the highlighters.

  3. Can you smooth your cashflow? A regular and fixed expense is a lot easier to manage than a variable one.

  4. Reset auto-transfers to fill your savings buckets – and know that you’re in control of your money, and working towards the goals that are important to you.

And that’s it – making money simple!


Need a fresh set of eyes?

If you’d like a fresh set of eyes on your money management approach – whether it’s getting started with your cashflow plan or an update to realign with your goals – working with a money coach helps you get the results you want.


Schedule a complimentary call using the link below, and we can discuss if Nutshell Money is the right fit for you.


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