Everyday Budgeting

Creating a personal budget

In its simplest terms, a personal budget is a written record of money coming in (income) and money going out (expenditure) over a given period of time.

Creating a personal budget can help you feel more in control of your finances, even if the numbers don’t look great. It’s better to be aware of where there are challenges than to be in denial, and it can be very empowering to see income and outgoings written down in one place. A personal budget is a great way to take control of your money.

Here are some useful links to information on budgeting, including online budgeting tools to create your personal budget and budgeting tips.

Prices for goods and services change every day - that’s the nature of a competitive market. To get the best deals for broadband, shopping, energy, insurance, TV, and music subscription, and all the other things we spend money on, we need to be proactive and research the best prices. Once we have found the best deals, we then have to be bothered to change suppliers.

Apathy can be the biggest barrier to getting the best deals, but a 30 minute phone call to a supplier could save hundreds of pounds in a year. Don’t let the hassle of switching stop you from saving. Set aside an hour a month to review your regular payments and make sure you are getting the best deals.

Below are links to useful resources on getting the best deals.

Take a look at the Small Savings Add Up modeller to see the impact of small savings over time.

Resource Zone

Money can be a daunting topic with unfamiliar language and terminology. Here in the Resource Zone you can learn about the topics that matter to you, bookmark pages and links and learn at your own pace.

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