The name Bunyip is translated as âDevilâ or âSpiritâ and the beast has most commonly been described as some kind of lake monster said to dwell in things such as billabongs and swamps.
Unallocated money is also a convenient place to build up savings. Record your incomes as they come in, and take what you need each month. Over time you'll build up a cushion in your Unallocated that you can use to jump start your savings or pay down debt.
What is 'Residual Income'. Residual income is the amount of income that an individual has after all personal debts and expenses, including a mortgage, have been paid. This calculation is usually made on a monthly basis, after the monthly debts are paid.