Preparing a Budget


Getting a handle on your finances – write up your budget

Working your way out of debt begins with taking a close look at where your money goes each month. Preparing an accurate budget helps you focus on where you need to make changes and starts the process of regaining control of your finances

To help, you can download our easy-to-use budget planner

Preparing your budget is pretty easy to do. The planner captures all your income and outgoings. It just takes a bit of work to gather all the information together. The good news is that you don’t need be a maths genius. You just need to work through the planner.

How to prepare an accurate budget

Be honest. Include all your expenses. Avoid the temptation to skip items or underestimate your spending.

  1. Record all the income coming into the house
  2. Use your bank statement to work out your regular commitments (mortgage, electricity, heat, insurance)
  3. Try to get an accurate figure for day-to-day living (hold onto receipts for a period of time to make sure your estimates are accurate)
  4. Include occasional items (don’t forget things that you buy for your children including pocket money, presents, school, etc.)
  5. Don’t skimp the budget – include all your outgoings.
  6. Keep calm – we’re only getting started – and be honest with your estimates, even if the figures don’t look to be turning out the way that you had hoped.

Download our free planning tool

Download our free guide

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