It’s budget day tomorrow. What are your top three budgeting tips?

WHOA! Let’s bugger off this word “budget”, okay? It puts everyone, except Treasury officials, to sleep.

Tomorrow night’s federal snorefest – well, I’ll be watching – has virtually no similarities to your own home finances.

Pollies can raise taxes. They negotiate with dozens of vested interests in parliament. They quibble over billions of dollars.

Our incomes are pretty fixed. We only battle our partner (often we’re just getting angry with ourselves). And we’re usually worried about a couple of hundred dollars.

Your finances are about “self control” and “delayed gratification”.

If you can’t show, constantly, a little bit of control, you’ve got as much chance of financial success as the Coyote has of nailing Road Runner.

Here are my three top tips.

If your bank account is running on empty and your investments are as plentiful as the hair on Angry Anderson’s head, then, simply, you have to spend less. Say no to yourself stuff occasionally.

Spend less on cars – the single biggest wealth destroyer in our personal finances. Hold out on updating your car. Spend half as much on one when you do. You will probably save $10,000 to $15,000 a year – an extra $200-$300 a week back in your pocket.

And, most importantly, invest first.

When your salary comes in, first add to your investment portfolio – this is what is going to create income for you in the future.

Next, pay the bills. Then, with what’s left … that’s what you actually get to spend for fun. It’s also known as the “pay yourself first” principle.

Bruce Brammall is the principal adviser with Bruce Brammall Financial (www.brucebrammall.com.au) and author of Mortgages Made Easy.