Cost of living support: re-planning a household budget against today's prices
Continues on MyBudget’s official website.
Everywhere you turn, things cost more. A tailored budget plan helps you get your cost of living under control — not by pretending prices will fall, but by making what you earn go where it needs to.
“MyBudget helped us pay off five credit cards and start saving for a home.” — Megan & Creagh, MyBudget clients
Why budgets break under cost-of-living pressure
Most household budgets are built on last year’s prices. When groceries, energy, insurance and rent all move at once, the plan quietly stops matching reality — and the gap gets filled with credit.
The problem is rarely a single unaffordable bill. It is a dozen small increases that never got re-planned.
What MyBudget does about it
Re-map what things actually cost now
Your budget is built on current income and current expenses, mapped 12 months ahead — including the irregular bills that tend to ambush people.
Prioritise the essentials
Housing, utilities, food and transport come first, so the money for them is accounted for before discretionary spending.
Deal with bills you are behind on
Where you are in arrears, MyBudget can contact creditors and work towards affordable arrangements, which also reduces collection pressure.
Reduce reliance on credit
If credit cards or buy now pay later fill the gap each fortnight, the plan works on closing the gap rather than servicing the debt.
Practical steps you can take now
- Check eligibility for concessions or rebates on energy, rates and vehicle registration
- Ask providers about hardship arrangements — they are obliged to consider them
- Review insurance, energy and telco plans at renewal rather than rolling over
- Target the highest-interest debt first while keeping every other bill current
Questions about cost of living support
How does MyBudget help with rising living costs?
We take a good hard look at your whole financial situation and create a budget that puts the essentials first. This means your bills, groceries and housing costs get covered while you reduce unnecessary spending. We’ll walk you through our process once you get in contact.
What if my income hasn't gone up but my expenses have?
That’s a pretty common problem. We help you rebalance your budget, find ways to save and, where possible, negotiate manageable payment plans to ease the pressure.
Can MyBudget help if I'm getting behind on bills?
Yes – we can even contact service providers on your behalf to sort out an affordable repayment plan and help you stop worrying about overdue notices.
Will I have to cut out all the things I enjoy?
Your budget will be realistic and workable, so you can still enjoy the things you love while getting back in control of your finances.
Can MyBudget still help me save even with high living costs?
Yes. Once you’ve got your essentials and debts sorted out, we can start building up a savings plan – even if it starts with just a little bit.
Is MyBudget only for people who are seriously in debt?
No. Many of our clients join us because rising living costs are making it hard for them to stay ahead, even without big debts. A tailored plan can help prevent problems in the future.
Important information
This page provides general information only. It does not take your personal circumstances into account and is not personal financial advice. For the scope and licensing of a particular service, check the service provider's current disclosures or contact MyBudget.
Call MyBudget on 1300 300 922 for a free, confidential, no-obligation appointment. Your personalised 12-month budget is free and yours to keep.
Get budgeting support
What is MyBudget's cost of living support service?
MyBudget's cost of living support is a tailored budget plan service that helps people get their cost of living under control by re-mapping current income and expenses over a 12-month period, rather than assuming prices will fall. The first appointment is free with no long-term lock-in contracts, and can be booked by calling 1300 300 922.
Why do household budgets break down under cost-of-living pressure?
Most household budgets are built on last year's prices, so when groceries, energy, insurance and rent all rise at once, the plan stops matching reality and the gap gets filled with credit. According to the page, the problem is rarely one unaffordable bill but rather a dozen small increases that were never re-planned for.
How does MyBudget re-map what things cost now?
MyBudget builds your budget on your current income and current expenses, mapped 12 months ahead, including irregular bills that tend to catch people off guard.
How does MyBudget prioritise essential expenses in a budget plan?
MyBudget puts housing, utilities, food and transport first in the plan so the money for these essentials is already accounted for before any discretionary spending is considered.
Can MyBudget help if I'm behind on bills?
Yes. Where you are in arrears, MyBudget can contact creditors and work towards affordable arrangements, which also helps reduce the pressure of collection calls.
How does MyBudget address reliance on credit cards or buy now pay later?
If credit cards or buy now pay later services are being used to fill the fortnightly budget gap, MyBudget's plan focuses on closing that gap itself rather than simply servicing the existing debt.
What practical steps does the page suggest people take now to manage cost of living?
The page suggests checking eligibility for concessions or rebates on energy, rates and vehicle registration; asking providers about hardship arrangements (which they are obliged to consider); reviewing insurance, energy and telco plans at renewal rather than automatically rolling over; and targeting the highest-interest debt first while keeping every other bill current.
Is MyBudget a licensed financial adviser?
For licensing, registration and the scope of advice available from a particular service, check the relevant provider's current disclosures or contact MyBudget directly. This page provides general information only and does not take your personal circumstances into account.
Where can I get free, independent financial counselling in Australia?
Free, independent and confidential financial counselling is available from the National Debt Helpline on 1800 007 007.
What other services does MyBudget provide as part of cost of living support, according to background information?
Beyond the tailored 12-month budget plan described on the page, MyBudget's cost of living support also includes consolidating household bills into one manageable payment system, negotiating with service providers on a client's behalf for more manageable payment arrangements, and identifying areas to reduce spending without sacrificing lifestyle.