Whatever your circumstances, 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.

Create a budget plan

Begin by listing all your sources of income and all your bills and expenses. Look through your bank statements to get started. Note down regular payments as well as one-off costs.

Take control!

1. Reducing your outgoings

If you need to make your money go further, consider where you could save.
Even small changes can add up - like making your own lunch rather than buying sandwiches or switch to a budget supermarket for your weekly shop. Check you’re getting a good deal on utility bills, phone contracts and insurance renewals.

2. Increasing your income

In the short term, you could have a good clear out and sell any unwanted items. Longer term you might be work towards a higher paid promotion or a new job.

Find creative ideas to earn some extra cash from the Money Saving Expert website.

3. Review your budget

Once you have your budget plan just take a few minutes each month to update your figures and check that you’re on track to meet your financial goals.

Online budgeting

The Money Advice Service offers a handy online budget planner.

Money on your mind?

Our specialist advisors provide impartial and confidential advice. If debt is starting to cause problems, or if you’re struggling with budgeting, get in touch. We can explore your options and come up with a plan to take the pressure off.

Get help managing your money