Spending your leftover NDIS budget the right way
Are you nearing the end of your NDIS plan and think you have some funding left over?
The realisation that there is still funding leftover in your plan is not uncommon, and it can happen for a variety of reasons, including being unaware of your maximum weekly spend, not budgeting, uncertainty or even fear of spending money on the ‘wrong thing’.
But don’t worry. The solution to this problem is actually easier than you think. All you have to know is how much funding you have been allocated, how much is remaining, and how much time you have left on your plan.
How do I know if I have underspent?
It can be hard to work out how much of your plan is remaining. But did you know you can keep up with how your plan is progressing using a simple online tool?
ISM’s handy online budgeting tool does all the calculations for you, so you aren’t left in the dark about how much funding is left in your plan.
It’s important to note that you must spend your allocated funding before the end of your plan, or before a new plan is funded. It is best to spend the funding before your next planning interview.
ISM also offer a finance and budgeting reporting subscription service, which sends out monthly budget analysis reports, to help keep you in the loop.
What can I do now?
Once you have determined if you have under (or even overspent) on your plan, don’t panic! There are multiple people you can turn to for help and to make sure you spend the leftover money in a way that will see you make progress towards your goals.
Your first point of call could be your Support Coordinator, Plan Manager, Local Area Coordinator (LAC) or NDIS planner. This person will go through your spending with you and talk you through better ways to spend your funding.
If you’re curious as to what kind of products and services you are able to access and purchase through your NDIS funding — download ISM’s free NDIS Shopping List.
And when it comes time to begin a new plan, Kickstart Your Plan offers developmental analysis to find the best way for you as an individual to spend your funding.
Call our friendly team on 1800 954 559, or chat to us online to find out more now!
Published by Katie
12 November 2019