How to get the most out of your NDIS consumables budget
Your consumables budget in your NDIS plan covers the purchase of low-cost and low-risk products from a range of in-store and online retailers.
From continence and sanitation products bought from your local pharmacy to specialist clothing and hardware products, this part of your NDIS budget can go a long way if you spend it the right way.
But not all products can be purchased from this part of your budget. Items like prescription medication and cosmetics fall outside of where your budget can be spent.
If you have been over or under spending in this funding category, you should reassess how much money you are spending (or not spending) on consumables.
You may not be getting the most out of your consumables budget, and haven’t realised it yet.
What exactly are consumables?
Your consumables budget is flexible! Sitting under your Core funding, it can cover a range of products and labour services under a variety of categories.
Products for assistive technology (AT), personal safety and care, household products, PEG tube formula foods (for HEN), and continence are some examples of available consumables.
More consumables examples include:
- Nappies (to cater to the needs of a child with a disability)
- Absorbent products
- Multiple-use absorbent pants
- Pumps and syringes involved in home enteral nutrition (HEN) purposes
- Food preparation products
- Household cleaning products
- Eating products
- Product and equipment delivery/unpacking/ labouring services
- Beds, mattresses, pillows
- Personal care and safety products
How do I know if I’m over or under spending?
If you think you are spending too much or too little of your consumables budget, don’t panic. There are simple ways to track and, if need be, rein in your spending.
At ISM, we have created two easy and practical solutions for you to track your expenses. The first is our simple budget tool which can help you figure out how much funding you have left in your plan.
But if you are after a more detailed analysis and reporting of how much you are spending in certain categories, daily spending and details on if you are over or underspending, ISM is pleased to offer customers a special reporting service.
The Budgeting and Financial Capacity Building subscription service provides ISM customers with monthly budget analysis reports, to give you a true insight into your spending and finances.
Subscribers also get unlimited half-hour sessions to improve their capacity in managing their supports.
Now you know a little more about how to get the most out of your consumables budget. But if you have questions about any part of your budget, or if you’d like to know more about ISM’s budgeting and finance services, contact our friendly team today on 1800 954 559.
Ready to get the most out of your NDIS funding? Sign up with Independent Support Management today
Published by Katie
12 November 2019