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self assessment budget
Budgeting
Over the next few pages you will find a step-by-step guide to completing
your personal budget sheet.
Don’t worry! There are no hard sums to be done, as our budget sheet
does all of the hard work for you. All you need to do is follow our instructions,
and enter the relevant information in the appropriate spaces provided.
Why budget?
A personal budget will give you an accurate overview of your financial
position. It is the single most important tool in dealing with your personal
finances, especially if you are dealing with debts.
Once you have completed your personal budget you will be able to:
- See where you have money coming into your household
- See where you have money going out of your household
- See the total extent of your debts
- Prioritise your spending to meet your essential needs, and if possible
get out of debt
- Handle your finances responsibly
- See whether or not further borrowing is affordable or not
Before you start.
- Ensure that you have any bills, statements, or any other documentation
that relates to your finances close to hand and in order. It is important
to get the figures in your budget right so that you get the full picture.
- Set aside some time when you know you won’t be interrupted.
If you live with a partner and you share your expenses, consider completing
the budget together. Sharing the decisions could reduce the stress levels.
- Sort out the bills and statements so that you know which is the most
recent. The information on your bills and statements will need to be
copied on to the budget sheet.
If you’re ready to start your budget, click here now.
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