Seeking Advice on Managing NDIS Funds Effectively

Hello everyone,

I’m new to managing my NDIS funds and feeling a bit overwhelmed. I want to make sure I use my budget effectively for a variety of services without running short. Does anyone have tips or strategies that have worked for them? Any advice would be greatly appreciated!

One thing I found helpful is to prioritize your needs. Start with essential services and then allocate funds to other areas. Regularly reviewing your plan with a financial advisor or planner can also help you stay on track.

Always keep some funds reserved for unexpected expenses, and don’t forget, you can negotiate rates with some service providers to make the most of your budget (you’ll find that soletraders have far more room to negotiate a lower price due to their lower overhead (costs associated with running a business) compared with companies who don’t have as much wriggle room).

I use a tracking app to monitor my spending against the NDIS plan. It helps me see where my funds are going and adjust if needed. Maybe that could work for you too?

Hi Sophie :slight_smile: I’d recommend reaching out to an NDIS support coordinator. They’re great at helping participants manage their funds and can give you personalised advice based on your plan.

Thanks, everyone, for your valuable suggestions! Prioritising needs, saving for emergencies, negotiating rates, and tracking spending seem like great strategies.

Tracking app sounds amazing. I didn’t know they had those for ndis plan management…. Or is it just a generic budget app? I guess any budget app would do and I could customise it to my needs.

Yeah it’s just a generic budgeting app. There are ndis specific ones. I tried one and didn’t like it. Read lots of bad reviews about other ones.

Generic has been best imo. Just pick any with a freemium plan and tailor it to your needs.