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Astute East Brisbane's Finance Insights

Drawing on his industry experience, Tony Duncan shares his thoughts on industry changes, home loan requirements and a number of important areas to consider when planning your first home purchase or your next property investment. 

  • Writer's pictureTony Duncan

Own your Budget

Updated: Aug 1, 2022

When planning your budget, it can be hard to know what you don’t know.

If you’re aiming to buy a car or a house in the near future, it's a good idea to have a plan in place. When you sit down to understand what you can afford to buy, you also need to have an understanding of what you currently spend versus what you earn. As many of us have found, there can be a number of hidden costs that can easily ‘blowout’ your financial pursuits if you don't know what to include.

When it comes to buying a house, for example, your monthly budget is a key topic covered by your mortgage broker in order to show the bank that you can cover your costs and while you might be a way off of taking that step, it’s never too early to start your planning or refresh what you thought you knew about budgeting.

Knowing potential costs that could be added to your budget and knowing them well can make a big difference to your savings over time.

It means you’re less likely to go over your forecasted spending one month and if you do, you can work towards cost cutting the following month so that over the course of the year you remain on track. Having a budget and knowing your numbers allows you to really ‘own’ it, and most importantly, be in control of your financial future.

You might feel a little uneasy about how much you spend on Uber eats or what you

Car wash

‘invested’ on your wardrobe last month, but in our experience it’s worth getting it all on paper first and the understanding of where to cut costs will become clearer.

To assist you with knowing what you might not already know, and while each person’s circumstances will be different, we’ve prepared a list of things to consider when you sit down to plan your next household budget. We suggest you planning your costs on a Weekly, Monthly & an annual basis.

You can use this list as a shopping list and add or remove items as it relates to you.

Things to consider when planning your budget


Food & Supermarket items


Cigarettes & Alcohol


Domestic holidays

Clothing, Shoes and accessories

Hairdressing and grooming

Phone, internet and subscription TV

Media streaming and subscription services

Gifts and celebrations



School Fees, Uniforms, Equipment

University Fees


Tertiary and vocational education


Child maintenance


Gym Fees / Sport

Private Health Insurance

Doctor/Dentist/Pharmacy, Glasses

Life/Trauma/Income Insurances



Car share/Uber/Taxi






Rent (Only if continuing after new lending)

Ongoing board expense

Home and Contents Insurance


Owner Occupied Running costs

Owner Occupied Rates &/or Body Corp

Investment property running costs

Investment Body Corp

If you need any more information from us, then don’t hesitate to reach out and let’s see what we can do to get you on the right track.


Astute Financial Management Pty Ltd | ACN 093 587 010 | Australian Credit Licence 364253  | Davgan Insurance & Wealth Pty. Ltd. T/As Astute East Brisbane Corporate Authorised Representative (425641) of Alliance Wealth Pty Ltd | ABN 93 161 647 007 | AFSL 449221. | General Insurance provided by Astute Insurance Pty Ltd | ABN 59 622 582 236 | Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433. Health Insurance products are underwritten by St Luke’s Medical and Hospital Benefits Association ACN 009 479 618 (St.LukesHealth), a registered private health insurer, [trading as Astute Simplicity Health] and members are introduced by Astute Financial Management Pty Ltd or related entities (collectively known as Astute) for which Astute receives a commission.

General Advice Warning: This communication contains general information only and in no way constitutes the provision of professional advice, nor should it be relied on as a substitute for financial, credit, accounting, legal or other professional advice. We have not taken into account your financial situation, investment objectives or particular needs.  Before making an investment or financial decision, a person must seek appropriate independent professional advice and also consider whether this information is appropriate to their needs, objectives and circumstances. The author as well as their representatives, agents and employees give no guarantees and make no representations, express or implied, as to the accuracy, currency, completeness or suitability of the information contained in this document. Nor do they accept any liability whatsoever as a result of any information herein being incorrect, incomplete or unsuitable or as a result of a person in any way using or relying on the information herein.


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