TAKING CONTROL OF YOUR BUDGET
Take control of your budget to avoid the stress of going into arrears on your rent.
If you are experiencing difficulties paying your rent, click the button below to contact AccordWest so that we can discuss what options are available to you.
A budget is a written plan that helps you know how much money you have coming in and what you need to spend it on. It helps you keep track of what you are spending.
Budgeting means you can:
• Pay for the things you need such as food, rent and current bills;
• Keep a regular check on where your money goes;
• Prepare for emergencies and unplanned expenses; and
• Save for something special.
Tools to help you with budgets:
Track My Spend
It’s good to have money set aside to use for necessary unplanned expenses, like car repairs or medical bills. Saving money on a low income is hard, but there things you can do to try to reduce the amount of money you spend so that you can save some for another day. There are many helpful websites that have ideas and information on how small changes can help you save money, including the following:
How to Save Money on Food
Saving Water and Electricity
Water Saving Tips
How to Reduce Your Energy Bills
How to Save Energy
Which Appliances use the Most Energy?
WHERE TO GET CREDIT OR A LOAN
Please do not borrow money unless absolutely necessary. You will have to pay the money back, on top of all your regular living expenses. Most importantly, we strongly recommend that you do not use ‘pay-day lenders’ or ‘loan sharks’. There are other options if you genuinely need help in a hurry.
Non-Interest Loan Scheme (NILS)
NILS provides individuals and families on low incomes with access to safe, fair and affordable credit. Find out more here.
These are low interest loans for people on low incomes who have difficulty accessing credit from a bank. You can borrow from $800–$3,000 with up to three years to pay it back. Find out more here.
Loans for people on Centrelink payments
Loans for people on Centrelink Payments
Hardship Utility Grant Scheme (HUGS)
HUGS provides one-off grants to help Western Australians experiencing financial hardship (and pays electricity, water and gas bills).
You should discuss your situation with the relevant utility provider. For eligible clients, utility providers will apply for a HUGS Grant and may refer clients to a free financial counselling service for further support.
Understanding the true cost of “pay-day” loans and lending scams
Avoiding Loan Sharks