Budget tips for fifo workers

15 September 2020 , Posted by Tracy Samulela and Julie Loveny

Budgeting can be seen as a dirty word in family lives, but it’s essential in today’s survival in FIFO families.Budgeting is something that many of us don’t like to consider as we think it will tie us down. But if you really stop and think about it, budgeting is simply a means of looking at your income and expenditure and deciding on what is most important to you.

Once you identify what you want to achieve, a budget is a tool to help you get there.


Set yourself a savings target-  Aim to save 15% of your gross annual income. This breaks down to 5% for short-term goals and 10% for long-term goals.

Develop a safety buffer- The key to successful money management is to put funds aside during the good times and to minimise financial stress during bad times. Remember to allow for unexpected debts and emergencies like illness in the family, loss or breakage of possessions, career interruptions.

 Quick budget reminders.