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budget woes need shot of fun ► With rising interest, fuel and food prices, many people are having trouble balancing their budget, and there is no shortage of public discussion on the topic.  Rana believes one of the most overlooked issues is the question of fun on a budget.

“People are being hammered with household budgeting advice but it often comes across as a dire warning or a series of actions lacking in emotion. For many, this makes the whole budgeting concept filled with negativity and something to be avoided, so they are back to square one. They need to hear that is possible to have fun when there is little or no money for it.” Drawing on clients' comments and her own experience with her husband Paul, Rana has compiled a list of strategies to inject a bit of fun into balancing the budget. 

• Saving money usually ‘costs’ you time but in most instances it is time better spent! For example, Helen walked to her local hairdresser, taking 40 minutes rather than usual 10 minutes driving but she enjoyed the outdoors and saved money on petrol and gym fees. 

• Megan Houghton, CEO of CitySmart, is the 2010 Telstra Queensland Business Woman of the Year. CitySmart helps residents change energy consumption habits and reduce costs through its EzyGreen programme. www.ezygreen.com.au

• Save money on food! Use up what's left in the refrigerator, draw up a meal plan at the beginning of the week, make a shopping list and stick to it. Create a vegetable garden, shop at your local market, having baking afternoons to save money on bought lunches ... involve your family and friends. For other money-saving ideas visit www.cheapskates.com.au

• Entertainment: snacks may be better appreciated when they are a bit special. Pauline has a $20 popcorn maker; Brenda buys a tub of ice cream and some cones and the family make their own ice creams; and Debbie stews fruit and mixes it with yoghurt. Get everyone involved making rice wraps ... have a movie night at home with 'budget Tuesday' DVDs. • Holidays: some families house swap; other create a 'home-holiday'. Sarah and Carl moved mattresses into the lounge room—and just like camping—everyone slept in the same room for a week. They turned off the TV; unplugged the computer; shopped for food in a different suburb; read library books; played old and newly-borrowed games; went for long walks; used the barbeque most nights and for a holiday project—built a frog pond with secondhand materials found in the garden.

How to become skilled at the art of saving? 

It can be taught and learned. The first step is to sort out exactly how much you earn and to know clearly what your essential and fixed expenses really add up to. This is not magic, everyone can work it out. Gather together all your regular expenses, like rates, electricity, telecommunication costs, etc. Then make a list of the amounts for a whole year, eg $383 car registration paid twice a year (x 2) is $766/year.  $420 electricity paid quarterly (x4) is $1,680/year.

Now you know that as well as your mortgage or rent payments, you also need to set aside this new amount per pay. Tough as that is, if you don’t, the bills are going to come in any way.  Talk to your financial institution and see what savings system (with little or no fees) can be set up to keep this “bills” money separate from everything else.

If you have no surplus pay left after this first step, then it is vital to consider ways to earn extra income, and/or how to reduce some of your regular bill commitments.  Some clients pick up casual contract work in their field of expertise, or cleaning, babysitting, holiday pet and garden care for neighbours, join groups like Mums in Business for innovative ideas on how to earn extra without huge cash setup costs.

The next most important amounts are the weekly or fortnightly cash requirements, eg. transport, food, etc.  Some people have a separate'f'ood money' purse and make a game of sticking to a set amount each pay. 

If you do have a bit of surplus, label those savings for specific purposes, eg clothes, holidays, maintenance, education.  This way it is less likely to be used for other things in 'emergencies'.  For example, if the vacuum cleaner breaks down, you might save up for the repair rather than use your education monies for it.  Start small, even $5 saved each pay for your different accounts is vital – this establishes the behaviour and creates a savings structure – over time the amounts will fluctuate and sometimes be much more.

Tight financial situations can lead to serious depression and financial stress. Avoid the credit card wherever possible. If you have a large debt, transfer balance to a lower interest rate card and then destroy that new card.  Make regular and constant payments on debt. Remain creative and search for ways to have pleasure—change your routine, read the weekend papers in the garden rather than in the lounge room, use the library, have baking afternoons to save money on bought lunches, involve your family and friends, and share your ideas with others. 

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