Make Your NDIS Budget Last

Being aware of funding challenges, the solutions and how to manage your funds to avoid falling short may help you ensure continuation of support. In this article, we’ll look at the most common reasons behind running out of funds, some tips to ensure your budget lasts as well as potential solutions if you find yourself short of funding.

What are the most common reasons for running out of funds?

The most common reasons NDIS participants run out of funding include:

1. You haven't been allocated enough funding to support your needs

In some instances, participants may not be allocated enough funding to support their needs and goals through the full length of their plan. If you ever find yourself in this situation, be aware that you can request a plan review to adjust your funding. Below are some tips you might find helpful in managing a review: 

• Contact the NDIS to request a plan review ahead of your scheduled formal plan review. There are 2 reasons why a plan can be reviewed ahead of time - An Internal review and a ‘Change of Circumstances’ review.
• Request the review as soon as you become aware that you’re falling short - you do not need to exhaust or be close to exhausting your funds to request a review. Taking action early will ensure you resolve the issue and make sure your support continues, sooner rather than later.
• In the lead up to your plan review meeting, it’s a good idea to take some time to think about the key reasons you require more funding and start collecting any relevant supporting documentation. Clear reasoning behind your request with supporting documentation will help the NDIS better understand your requirements and reasons for the review. 

2. You haven’t realised you were running out of funds

It can be easy to lose track of your spending when we are busy with our day to day lives. If you find yourself with less budget left than expected and are concerned about not having enough to receive support for the duration of your plan, here’s what you can do:

• Carefully review your supports and think about whether there are any supports you could potentially cut back on to help your budget stretch for longer. 
• Outline all key supports you will definitely need before your plan comes to an end and note the amount of  funding required from the budget for these supports. You may have enough funding to cover them until the end of your plan and if not it may be necessary to request a plan review. 
• Going forward, you may wish to more closely monitor your spending, perhaps with the help of a budget tracker. This will help you avoid overspending and make you feel more in control of your NDIS funds.

3. You were charged more than expected

Sometimes, invoices can be more than anticipated, be it because of unexpected extra work that was provided or additional travel costs. If you ever find yourself being charged more than what you anticipated, you may want to try the following:

• It’s a good idea to set up service agreements with the providers you work with. Service agreements are contracts that specify how many hours and at what rate the provider will work. This will reduce the risk of unexpected charges.
• Another habit you may wish to implement is to review all invoices coming from providers before paying them. This way, you can discuss any unexpected charges with the provider before making payment.