It can be hard to keep track of these as they're not listed in your bank account statement. You also need to add any purchases you make with cash. You might think it's not worth adding the odd coffee or magazine purchase as they're so small in value, but these little miscellaneous expenses can add up to quite a lot over a month. To make it as useful and accurate as possible, you need to include everything you spend money on in your budget. Look at your repayments over a few months to work out a more accurate spend for this. You can enter these as 'Lay-bys' under the 'Mortgage & Debt Repayments' tab.

Don't forget buy now pay later repayments.This is the same for superannuation – if you make extra voluntary contributions you can add this in, otherwise it's already applied to your gross income. Unless you make extra voluntary payments, you don't need to add this into your budget as it's not coming from your post-tax income. For most people with a HECS debt, your repayments will be deducted from your gross income along with tax. Only include HECS and superannuation if you make extra payments for these.It's better to put a rough figure in for this rather than to leave it blank. Tracking them over a monthly, 3-monthly or longer period by looking back at your transaction history will provide a more accurate picture of how much they are costing over the long run. It's difficult to guess how much you spend on things like clothes and household items in a given month, as this can change quite a lot. Take a look at how much you usually spend on groceries, eating out and takeaway over a longer period instead, such as each month, to make these more accurate. It's unlikely you spend the same amount on groceries and other food every single week. For bills that change in cost, such as your quarterly energy bills, tally these up and work out the average cost over a year. Looking over a 12-month period will ensure you don't miss any, especially bills that are paid annually. Go back through your transaction history for the past 12 months and identify all your bills and payments. Identify all bills and repayments before you start.If you're currently renting (as opposed to paying off a mortgage) you can enter your rent amount as 'other' under 'Living Expenses'. This is handy as you might get paid weekly, but have some expenses that come out monthly or even quarterly. This can help you enter your spending without having to work out your annual spend (the tool will do this for you!).

You'll see there's a 'frequency' option after each income source or expense. Pay attention to the payment frequency.If you share income and expenses with a partner and want to create a joint budget, remember to factor this in when you're entering your expenses. If you're putting together a budget just for you, simply leave the 'net salary – partner' options empty. Decide on an individual vs joint budget.This is the income that lands in your bank account after tax has been taken out. When you enter your income in the first section, make sure to enter your post-tax income. They are neither a recommendation nor an eligibility test for any product and should not be construed as financial advice, investment advice or any other sort of advice. *Whilst every effort has been made to ensure the accuracy of this calculator, the results should only be used as an indication. View all in Utilities / Phone & Internet.

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