Easy steps to managing your NDIS budget

null

NDIS budget management doesn’t have to be overly complicated for self-managing participants. This guide will help you keep track of your NDIS funding

Self-managing your NDIS funding gives you greater choice and flexibility to plan the support you need. However, it also comes with extra responsibilities.

As a self-manager, you’re responsible for NDIS budget management for the duration of your NDIS plan. This includes purchasing the right supports, claiming and paying for them on time, plus maintaining up-to-date records.

It takes careful planning and organisation to keep your funding on track and make sure it lasts for the length of your plan. This can be time-consuming and feel overwhelming to start off with. Take a look at the following steps to make the process more simple:  

Step 1: Understand your NDIS budget

Your NDIS plan will outline the types of support budget you have available for the duration of your plan. These supports are in addition to help you may already receive from family, friends and other community or government services.

There are three types of support budgets available:

  1. Core supports budget: This budget funds consumables, assistance with daily activities,  social and community participation, and transport.
  2. Capacity building budget: This is allocated across eight sub-support categories: matched to your NDIS plan goals. These are:
    • Choice and control, e.g. training in planning and plan management
    • Daily activity, e.g. therapy that builds your capacity to participate
    • Employment, e.g. employment assessment and counselling
    • Health and wellbeing, e.g. exercise advice to reduce the impact of disability
    • Home living, e.g. support to find and retain accommodation
    • Lifelong learning, e.g. support to move from school to higher education
    • Relationships, e.g. support strategies for reducing behaviours of concern
    • Social and community participation, e.g. life skills development and training.
  3. Capital support budget:  This is specifically for assistive technologies and home modifications.

It’s important to note how much funding you have allocated for each budget before you start making purchases/employing carers.

Step 2: Spend your NDIS budget wisely

Once you understand the funding available to you, you can now choose the right supports for the best NDIS budget management.

Supports must be linked to the goals outlined in your NDIS plan, and there are different types of support providers available, with different areas of experience and expertise.

As a self-manager of an NDIS budget, you have the option to:

  1. Buy your supports from a registered or unregistered business or organisation
  2. Use self-employed contractors who are registered or unregistered providers
  3. Directly employ and manage people to support you or the person in your care

Before you purchase any supports, you should consider:

  • Value for money: Is the cost of support reasonable compared with other options?
  • Quality: Is the quality of the support high and helping you meet your goals?
  • Quantity: How much support will you need over the length of your plan?
  • Budget: Can you afford the amount of support you need?

Step 3: Keep track of your expenses

As you pay for your support workers, you’ll need to track what money is coming in and what payments are going out. This is also necessary for better NDIS budget management.

Keeping a separate bank account for your NDIS funds is mandatory and helps with the management of your plan. It also makes sense to use dedicated NDIS support software, which will give you real-time online reporting and show you at a glance how much you are paying for care.

Step 4: Meet your reporting requirements

An important part of NDIS budget management is showing how you’ve spent your funding. You need to demonstrate at your NDIS plan review meeting that the supports you’ve purchased have helped you reach your identified goals.

You also need to keep records of any invoices, pay slips and bank statements as evidence that you’ve managed your plan responsibly.

Self-managing your NDIS plan is a hands-on approach which offers greater choice, control and flexibility. If self-managing is the right choice for you, Real Support Choices can make it easy to track, budget, report and spend wisely. This software was created with the help of NDIS participants to make self-management far less complicated.

READ MORE: NDIS SELF-MANAGING: HOW TO MAXIMISE YOUR NDIS BUDGET

Real Support Choices: Self-managed NDIS made easy

If you have decided to self-manage your NDIS care, Real Support Choices can save you time and money. This helpful app makes it easy to:

  • Book carers
  • Create rosters
  • Manage payments
  • Track your budget
  • Update timesheets
  • Report on your expenditure
  • Store all financial records
  • Manage the secure transfer of funds to your carers
  • Manage all employee obligations

Click. Click. Done.

Real Support Choices will save you THOUSANDS.

Visit Click Here to start your FREE 30 Day trial (valued at $99)

Start Your Free Trial Now! Sign Up Below!

Enter your email below and we'll send you a link to begin your registration.

    , ,
    Previous Post
    How to save thousands of dollars, gain more carer support and take control of your NDIS funding
    Next Post
    NDIS self-managing: How to maximise your NDIS budget

    17 Comments. Leave new

    • This is very interesting, You are a very skilled blogger. I have joined your rss feed and look forward to seeking more of your excellent post. Also, I have shared your site in my social networks! Bridget Stu Stefanie

      Reply
    • Wow, marvelous blog layout! How lengthy have you been blogging for? you make running a blog glance easy. The full look of your site is magnificent, let alone the content material! Karrah Fabio Robi

      Reply
    • naturally like your web-site however you have to check the spelling Pippa Eldin Janek

      Reply
    • I have to point out my gratitude for your generosity for persons who must have help on that concept. Your real commitment to passing the solution all-around has been extraordinarily powerful and have empowered most people like me to arrive at their goals. Your new invaluable facts means this much a person like me and a whole lot more to my colleagues. Many thanks; from everyone of us. Ursulina John Virgie

      Reply
    • You made several fine points there. I did a search on the topic and found a good number of persons will consent with your blog. Ranna Neil Maze

      Reply
    • Good post! We will be linking to this great content on our site. Ediva Jae Sussi

      Reply
    • You can order it online and install the whole thing yourself. Wind sensors shut the sprinkler system when a speed of wind is reached. Water twice a week, mow infrequently and wait until September. Cyndy Brnaba Myrilla

      Reply
    • veri nice blog.the time has come to make adiscipline in life without discipline we will become slave of technology and will loose to enjoy the nector of life.thanq keep up the gppd work. pkp knp Jessalyn Jdavie Mickey

      Reply
    • Great article. I am going through many of these issues as well.. Carolyn Haley Lowenstern

      Reply
    • I like reading a post that can make men and women think. Also, thank you for allowing for me to comment! Maryjo Borden Verdie

      Reply
    • Thankfulness to my father who told me concerning this web site, this blog is genuinely awesome.| Peggi Drud Giorgia

      Reply
    • Hey There. I found your weblog using msn. That is an extremely well written article. Ariana Andras Bremen

      Reply
    • Good day! I just wish to give you a huge thumbs up for your excellent info you have here on this post. I will be coming back to your blog for more soon. Abigale Derrick Zubkoff

      Reply
    • medical marijuana news stories
      February 16, 2021 4:47 pm

      When the danger is past God is cheated.

      Reply
    • Hi there, after reading this amazing paragraph i am also cheerful to share my familiarity here with friends. Stevena Murdoch Sharman

      Reply
    • Pretty! This was a really wonderful post. Thank you for supplying this info. Simona Ricoriki Concordia

      Reply
    • You really make it appear really easy with your presentation but I to find this topic to be really something that I feel I would by no means understand. It seems too complicated and very wide for me. I am having a look forward for your next submit, I will try to get the dangle of it! Carine Hamish Brandt

      Reply

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Fill out this field
    Fill out this field
    Please enter a valid email address.
    You need to agree with the terms to proceed

    Menu