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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.

Disclaimer,   Target Audience,   Jurisdiction    Last updated & checked: 28/03/2006