Budget planner

How to use the budget planner

1. Enter net salary and bonuses

   Pick the pay frequency (weekly, fortnightly, monthly, quarterly, half yearly or yearly) and enter net salary and net bonuses. If you are budgeting as a couple, fill in the partner salary and bonus lines.

2. Add other income sources

   Enter any investment income, pensions and allowances, rental or board income, and other income, choosing the matching payment frequency for each row.

3. Fill in your regular expenses

   Work through the expense sections and enter what you spend on each item, setting the frequency to match how often each bill or living cost falls due.

4. View your budget summary

   Select View summary to compare your annualised total income against your expenses and see your overall financial position.

If you only know your before-tax pay, run it through the income tax calculator first so you enter accurate net salary figures here.

The planner converts every income and expense entry into an annual figure, compares your total income with your spending, and shows your net financial position so you can see what is left for savings or repayments.

What the budget planner includes and leaves out

How a visa or expat income changes your loan budget

Your household budget counts every dollar that lands in your bank account, but lenders assess income differently. If you are an Australian expat earning in a foreign currency, most lenders shade base salary by 20% before applying Australian tax rates, and bonuses are usually shaded by 20% for currency plus another 20% for lender policy.

For couples on a partner visa, bridging visa or 461 visa, the planner includes both applicants' net salaries, yet some banks refuse to count a temporary visa holder's income at all. Our VSL Matrix™ (Visa x Situation x Lender) matches your visa, your situation and both incomes to lenders that count both salaries.