Do you have a personal budget? Could you benefit from being more disciplined with how you spend your money? Here, we share lots of practical budgeting advice, as well as the benefits of budgeting, of which there are many!
When you spend all day looking after other people's finances, it can be easier than you might think to overlook your own everyday finances. Even when everyone around you assumes you're the expert in all matters concerning money and debt, life can sometimes present you with exceptional or unavoidable events.
Understanding your financial position gives you a sense of control and improves your peace of mind. So, effective budgeting isn’t just good for your finances, it’s good for your mental health too.
Budgeting is arguably the easiest and most effective way to manage your own finances and develop the right spending habits. And while it may take some effort, there are many benefits. By setting a budget, you can:
Drawing up a personal budget plan helps you review your income and expenses. Start by making a list of all your incomings and outgoings. Here are some pointers to help you get started:
Not sure where to start? Download our budget template to get you started, or access Money Helper’s helpful online budget planner here
Once you have your budget plan in place, it will take just a few minutes each month to check that you’re on track to meet your financial goals.
If debt is starting to cause problems, or if you’re struggling with budgeting, we’re here to give you a helping hand. Whatever your financial worries, big or small, you’re not alone. We’ll support you so you can access the best options, and manage whatever life sends you with strength and confidence.
We’ll listen and offer advice and guidance in a safe and supportive environment. And if we aren’t able to help you ourselves, we’ll point you in the right direction to one of our partner organisations who can. Either way, we simply want you to access the best options quickly and easily so you can carry on. Talk to us today.
We support past and present members of the Institute of Chartered Accountants of England and Wales (ICAEW)1, ACA students2, ICAEW staff members3, and the family and carers of members and students4.
You can find out more about our available support both in the UK and around the world on our support we offer page.
If you need financial support, we carry out a means test where we consider income, expenditure, capital and assets.
*Please note none of our other services are means-tested.