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Managing Your NDIS Budget

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Tips and tricks to get the most out of your NDIS budget

The National Disability Insurance Scheme (NDIS) has undoubtedly brought about positive changes in the lives of people with disabilities in Australia. It provides funding and support to individuals, allowing them to access the necessary services and support to enhance their quality of life. 

After creating an NDIS plan, managing an NDIS budget effectively is crucial to ensure that the allocated funds are used efficiently and effectively. This article aims to provide residents with practical tips on managing their NDIS budgets wisely, maximising the benefits and support available to them, while getting the best service available.

HealSoul is a NDIS provider with years of experience working with participants in the Scheme. We can assist you in effectively managing your NDIS budget, while giving you access to high-quality and better-value supports.

Before we get into tips for managing NDIS budget, let’s take a look at exactly what the NDIS budget is, and answer some key questions about the topic.

What is NDIS budget management?

NDIS budget management involves the responsible handling and allocation of funds provided by the scheme. Participants need to have a clear understanding of the budget categories, expenditure guidelines, and reporting requirements to make the most of the available funds. 

What is the average NDIS funding per person?

It is challenging to provide an exact average NDIS funding amount, as it can differ significantly from person to person. The average NDIS funding per person can vary depending on:

  • Individual participant circumstances and needs
  • Support requirements identified in their NDIS plan

The NDIS uses a flexible approach to funding, tailoring it to each participant’s goals. The funding amount is determined through an assessment process that considers the individual’s disability-related needs and goals for participation in their community.

What can I spend my NDIS core budget on?

The NDIS core budget is intended to cover supports that are directly related to a person’s disability and daily living activities. It can be spent on a variety of services and supports, including:

  • Personal care and daily living assistance: bathing, dressing, meal preparation, and household chores.
  • Support workers: engage support workers who assist with community participation, social activities, and skill development.
  • Therapies: various therapies, such as occupational therapy, speech therapy, physiotherapy, and psychology services.
  • Assistive technology: purchase, maintenance, and repair of assistive devices and equipment, such as wheelchairs, communication aids, and hearing aids.
  • Consumables: continence products, wound care supplies, and other disposable or consumable items directly related to a person’s disability.

The apportioning of NDIS funds to these core supports will depend on your needs and your NDIS plan. To get started on a plan that delivers you a better quality of life and more independence, get in touch with HealSoul.

Using your NDIS core budget

What are some tips for making the most of my NDIS funding budget?

Now that you’ve had a think about what supports you need, it’s time to think about how to get the most out of your NDIS funding. Here are our key tips for making your NDIS budget more efficient and practical.

Articulate your needs

Communicate your goals, aspirations, and specific support requirements to ensure your funding meets them. Providing detailed information about your disability-related needs can help ensure that your funding adequately covers the necessary supports.

Explore funding categories

You should familiarise yourself with the different NDIS budget categories and understand what types of supports are covered under each. By exploring all relevant categories, you can maximise the funding available to you.

Review and adjust

NDIS budget management is an ongoing process. Adjustments might be necessary if your circumstances change, or if you find that certain areas require additional funding. Staying flexible in managing your NDIS budget will help ensure that it remains aligned with your needs.

Keep detailed records

Keep track of your expenses, invoices, and receipts related to your NDIS-funded supports and services. This documentation will not only help you monitor your spending but also simplify the reporting process, ensuring compliance with NDIS requirements.

Explore additional supports

There are free community and mainstream supports available to you. By accessing these options, you can optimise your NDIS budget, stretching your funds further and potentially free up resources for other essential areas.

Find a plan manager

NDIS budget plan managers can give you a leg-up when it comes to funding. With their experience and expertise in managing NDIS budgets, funding categories, and financial reporting requirements, you can rest assured that your funding is going far. 

Planning your NDIS budget

Why use an NDIS Plan Manager like HealSoul?

HealSoul employs experienced NDIS Plan Managers to assist participants in getting the most out of their NDIS budget. Using an NDIS Plan Manager can offer several advantages:

  • Time-saving: Plan Managers handle administrative tasks, such as paying invoices and managing financial documentation, which can save you time and effort. 
  • support coordination: Many Plan Managers also offer support coordination services, assisting you in navigating the NDIS system and coordinating your supports effectively. 
  • Simplified financial management: Plan Managers handle financial reporting, including expenditure statements and record keeping, ensuring compliance with NDIS guidelines. 

If you’re ready to take the next step in your NDIS journey, get in touch with HealSoul. Our team offers a full-service approach to managing and delivering better NDIS support services. From plan management, to in-home care and assistance, we can do it all.

Better yet, we execute with the highest regard to personal respect. Our support services are delivered to assist you in finding your own sense of independence. Everything we do is guided by compassion and a genuine desire to help participants make the most of the Scheme.

Book a Free Consultation With HealSoul

Sabina Kamal

Experienced Founder with a demonstrated history of working in the hospital & health care industry. Skilled in Career Development, Payroll Processing, Interventions, Team Building, and Organisational Leadership. Strong business development professional with a Advanced diploma of Community Sector Management focused in Community Management from Skills certified Australia.

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