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Why should I budget? |
Budgeting - First Steps |
Budgeting - The Nitty Gritty |
Budgeting - Moving On |
Budgeting - Tips |
Tools of the trade |
Budgeting - First Steps | |
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If you don't know where you are coming from, how can you know what you need to change? | |
The first step to successful money management is to become more aware of how you use your income each month. The best way to do this is to keep track of every pound you spend for one month. You'll be surprised and probably shocked by how much some of your income is used up on "small" (sandwiches, car parking, magazines, etc.). By the end of the month, this combined total may be your biggest! |
Another expenditure to be particularly aware of is alcohol. We are not going to win any friends by saying this but if you add up how much you actually spend on alcohol you will be amazed. We aren't saying stop going out but it is worth knowing how much you spend when you go out. Using reverse psychology if you can imanage your finances better it will leave you more money to spend on beer in the long run. |
CHALLENGE 1 : Even if you don't want a formal budget try to keep track of all your spending for a month to see just what you spend money on. |
Get Adobe Acrobat Reader to view our sample budget sheet.