Planning out your month to month finances is an important step in reducing debt, preparing for retirement and keeping on top of your bills.
No matter your income, sticking to a budget can mean more money than you ever thought possible at the end of each pay cycle.
They say the future is always uncertain, but with some carefully thought out spreadsheets or account books, it’s certainly a lot easier to prepare for it.
Planning your financial future
There are many things to consider when planning your financial future.
For example, do you know how much retirement will cost you? You may need to start putting some extra money into your super fund in order to lead the lifestyle you want after retirment.
Lastly, what about donating to charitable organisations? There are many great charities around the world, each hoping to do some good in their respective fields and make a positive change. If you budget carefully each week, you might have a little extra left over that could be spent helping people, animals or the advancement of science.
But who to donate to?
Give to charity
With so many organisations available, choosing a starting point can be tricky, especially if your finances are limited. How many organisations you can donate to will also be affected as well.
According to a report released by marketing research group Millward Brown in 2012, 67% of Australians prefer to donate to local charities, rather than international ones, so there’s a place to start.
The same report also suggested that 64% of us prefer to donate to disaster relief efforts, followed by health (61%) and poverty prevention/relief (52%).
So if a local charity is the way to go, who should your money go to?
Australia’s top charities
The top 10 most recognisable charities in Australia, when respondents were prompted, offer an insight into who the most popular might be in 2015
|1||The Salvation Army and Red Cross|
|3||Cancer Council and Heart Foundation|
|5||Guide Dogs Australia|
|7||Vincent de Paul Society and Ronald McDonald House|
|8||Royal Flying Doctors Service|
It’s good to have hugh levels of trust in a charitable organisation, too. According to Millward Brown, the most trusted large charity names were:
|1||The Salvation Army|
While the most trusted small charities were:
|1||Royal Flying Doctors Service|
|2||Guide Dogs Australia|
|3||Legacy and Royal District Nursing Service (equal third)|
The following year, Australians stated in a Reader’s Digest magazine poll that Guide Dogs Australia, Red Cross, the RSPCA and The Salvation Army were their most trusted. Guide Dogs Australia won again in 2014.
Room in the budget for a helping hand
It’s easy to walk straight past a brightly coloured representative on our city streets as they gently shake their donation buckets, as most of us tend not to carry loose change to the extent we once did. However, with proper financial planning each pay cycle, you are much more likely to be able to lend your support to a group in need.
Are you going to give to charity? Which charities appeal to you?