Do you cringe when you hear the word “budget”? Many Aussies do.

In fact, nearly 67% don’t have a household budget, and nearly half say the reason they don’t budget is because they are too scared of what they will find out.

At Fair Go Finance our goal is to help our customers create a better future, so let’s tackle this “budgeting” fear head on and find out what the three worst things you could find are, and how to face them once and for all.

You spend more than you earn

A budget will clearly show if you spend more money than you earn. Here are some of the most common red flags:

  • Your credit card keeps increasing and you struggle to make minimum payments
  • You often need to borrow money just to keep on top of things
  • You juggle to pay your debts on time

Eventually you could hit a point where your debts will overtake your life. So what can you do now?


It’s never too late. Once you complete a budget, you can look at all of your expenses and determine ways of cutting back and clearing your debts. Your new budget can get you back on track and save you from getting into more debt. The government’s website can help you get started with some great free budgeting tools.

You have more debts than you realised

Acknowledging the total amount of debt you have, can be hard at first. Many of us want to bury our heads in the sand and just hope it will magically disappear. Unfortunately it won’t and will only get more out of control.


A budget will give you a clear picture of your total debt allowing you to start work on getting it repaid. Remind yourself the enemy is not the budget, it’s the debt – so it is now time to focus on getting rid of it.

You don’t feel there is a way out

If your budget shows a bleak picture, then you know something just needs to change sooner than later. You can either confront it, or face a possible bankruptcy situation.


There are a number of resources still available to help you. The key is to start the process. There are free financial counselling services that can help people in difficult financial situations, such as


Remember, these are some of the worst things you can find out from doing your budget, but for each of them there are solutions. Being fearful of something never makes it go away. Take back control today and it will only get better.

Related Articles

Can your spending habits affect your kid’s future?

When it comes to kids, all parents wish for them to be healthy, happy and financially secure. For their child’s financial well-being, some dream to raise the next sports champion

Read More
woman considering credit options

When is a personal loan better than buy now pay later?

  What would you do if you really needed to buy something but didn’t have enough money in your bank account? If Afterpay springs to mind, you’re not alone. This

Read More
managing bills and loans

Three tax tips to know before lodging your return

Do you ever work from home? Or use your home internet or personal phone for work purposes? Perhaps you’ve been doing some extra work as an Uber driver or renting

Read More

Are you eligible to apply?


It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:
For more information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.

Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
If you are on government benefits, ask if you can receive an advance from Centrelink.

The Australian Government’s MoneySmart Website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.