St George & Sutherland Shire Leader

How to Budget Your Family Spending In 2024

Learn how to better structure household finances and spending, and make 2024 a comfortable year even for your wallet. Picture Shutterstock
Learn how to better structure household finances and spending, and make 2024 a comfortable year even for your wallet. Picture Shutterstock

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The start of a new year is a perfect time to reassess your finances, and find new, proactive ways to help save money and stay in better control of what you do have for you and your family. And if 2024 has been moving too fast for you to be able to really sit down and go through the books, then why not take this Easter school holiday break to do a little planning and set your family up for fiscal success over the rest of the year?

But where do you begin when it comes to developing budgets for your family's spending? Thankfully, we've got a jumping off point for you right here.

We've written this guide to help Australian families better structure their household finances and spending, and make 2024 a comfortable year even for your wallet. Read on to find out how.

Find the right credit card for you

Many people don't put much thought into which credit card they choose to own, which is a simple way to balance out your spending. Different card providers offer different payment structures, perks, and interest rates, and there's also a big variance between the different sorts of cards issued by the same provider, so it's definitely worth doing your research.

When looking for the best credit cards, you'll want to find a payment plan that saves you as much money as possible given your spending habits. Some cards charge you a higher flat monthly fee rather than interest, while some charge higher interest rates in exchange for a lower flat fee. Different cards also offer rewards for certain types of purchases. You'll want to find ones that reward you for the types of purchases you usually make. Of course, make sure you know you'll be able to pay it back each month.

Entertain at home when you can

Lots of people think that the summer season means endless meals out with family and friends, but this doesn't have to be the case. It's just as fun (even more so, we would argue) to celebrate either by spending time at their place or yours. This also gives you the opportunity to cook with your loved ones, which can be an occasion in and of itself.

Hosting at home is great for your finances because restaurants have a way of draining our bank accounts without us even realising it. While eating out doesn't usually qualify as a big purchase, these costs stack up, and before you know it, your wallet is feeling extra light.

If you're stumped on what to make, look online for some easy light dishes to inspire you - or host a classic summer BBQ in a local park. You could even have a pot-luck and ask everyone to bring something homemade along.

Stick to a budget

If you haven't started budgeting, we strongly recommend you look into it for 2024. It's not as hard as you think, and there's a few different ways to do it, so everyone can find a method that works for them. Sticking to a budget is crucial all year long for responsible spending, but it's especially helpful at times when the temptation to spend money is greater, or when it's unavoidable that there'll be more events on the calendar than usual, such as during any of the school term holidays or when there's birthdays coming up.

Budgeting doesn't mean you need to cut back on every aspect of your spending, but it will help you keep track and prevent you from going too far in the opposite direction.

Make the most of seasonal promotions

After the Christmas period of what may seem like endless shopping for gifts, the idea of heading back into a store anytime soon might make you tremble in your boots thinking of all the costs adding up. Luckily, there are usually plenty of summer sales around this time of year you can take advantage of, with shops clearing their excess Christmas stock, or making way for the new season.

The same goes for all seasons, major events and public holidays across the year. Valentines' Day, Easter, The Melbourne Cup - you name it. Big brands will find any excuse to put on a sale, and you can snap up some great bargains if you save your shopping till then. This easy tip will help you get hold of the same items, but for less than the standard price. And everyone loves a deal.


Making smart financial decisions doesn't mean you can't enjoy yourself. In this article, we've gone through ways you can still do what you love in the new year, without breaking the bank. Choosing the right credit card, sticking to your budget, hosting at home and staying aware of promotions are all easy ways to keep your family budget in check.

So be mindful, monitor your spending, and you'll be able to keep having fun all year long.