Tips to Avoid Leftover Ndis Funds at the End of Your Plan

Are you nearing to the run of your NDIS plan and believe you still have some money? It's not unusual to discover that there is money left over in your plan, and it can happen for a number of reasons, such as not knowing your maximum weekly spending limit, not planning, uncertainty, or even a fear of spending money on the "wrong item." 

But do not fret. The answer to this issue is actually simpler than you might imagine. All you need to know is how much money you've been given, how much still hasn't been spent, and how much time is left on your plan.

Using money that is left

If you have NDIS plan funding that hasn't been utilised yet, it's vital to keep in mind what those funds can be used for before deciding what to do with it. Supports deemed "appropriate and essential" to help a participant achieve their goals, engage in community life, and gain more independence will be funded by the NDIS Plan Management in Melbourne.

You must thus be able to later demonstrate whether a purchase was "reasonable and required" for your specific circumstances when using your unused NDIS funding.

The flexibility with which you can use your cash varies depending on the support category—Core, Capital, or Capacity Building—you are receiving.

You might be able to figure out why you have unused money and how to put them to good use with the aid of your support coordinator or Local Area Coordinator (LAC).

 

Unused Core funds

Your core support consists of money that will enable you to maintain your standard of living while pursuing your goals and objectives. It is divided into four categories, with flexible funding for each one. You can probably put the majority of your extra money on this.

Your everyday living necessities won't likely alter, but if you wish to move, utilising some of your leftover NDIS cash to start the process would be a smart option. You can use any unused dollars on any other Core categories if there are any places where you have spent less than you wanted.

You could be able to use the transportation financing for social and community involvement, for instance, if you had set aside a particular amount of money for transportation costs but afterwards discovered a service that was less expensive and closer to your place of residence.

Do you have any interests in participating more actively in any social or leisure activities? Any community-based or educational programmes? Consider alternative endeavours you might enjoy trying out and engaging in, such as art courses, library visits, sports, camps, or other day outings that might have peer support.

 

Unused capital resources

Capital assistance funding adds money to your budget for specialist disability accommodations, modifications, and assistive technologies. Your requests for aids and/or equipment funding that you want to be included in your NDIS budget must adhere to a set of requirements.

Funds designated for capital support may only be used for the exact purposes you've already listed in your plan. Therefore, if your plan contains money for capital support for assistive hearing devices, you cannot utilise that money to modify a vehicle in its place.

There isn't much room for error because you must ask for funding for these products in your planning meeting, and you aren't likely to have any extra money unless you don't buy the things you've listed or find less expensive alternatives. You will probably be able to access this funds in your next plan if you are unable to purchase the things funded in your capital support, such as if the product needed to be produced to order and wasn't yet ready.

Unused money for capacity building

Supports for capacity building might be used to pay for therapies or gain access to programmes that increase your independence. Any qualified individual help within a given category may be purchased with funds.

Your capacity building support budget cannot be transferred from one support category to another, in contrast to your core support budget. Only approved individual supports that fall within that Capacity Building category may be purchased with funding.

Later on, though, you can decide to change from occupational therapy to speech therapy or to allocate a bigger proportion to podiatrist services. This flexibility enables you to decide which capacity building support would be most effective in helping you reach your objective.