Tag Archives: making a budget

How to budget your money

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The first step to getting in control of your finances is to create a budget. This will help you understand what your income is, and what you’re spending your money on each month.

Let’s take a look at what budgeting is and go through a step-by-step guide to making a budget.

how to budget

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Glen’s story: From £15k in debt to debt free

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Glen Hodgson“When I went away to University at 18 I was hit with countless offers of credit, a number of which I took – including a student overdraft, a few credit cards, hire purchase agreements, and loans. It was too easy.

With no assets to lose, my view at the time was – “I don’t have the spare money to pay it all back without compromising on my own lifestyle” and so I put it to the back of my mind. However, I was about get a rude awakening…

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A beginner’s guide to budgeting

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Financial education

Time to add up the pennies

So you’ve compiled a budget, you have it in front of you, but its making no sense whatsoever.  What do you want out of your budget?  What is budgeting? What are the benefits of budgeting?

According to the Oxford English Dictionary a budget is “an estimate of income and expenditure for a set period of time”.

But importantly, while the word budget can imply that you have to do without, this doesn’t have to be the case. By taking the time to study your own spending patterns and habits, can give you an awareness that you may not have previously had.

You can use your budget as a tool to help you live within your means, or a tool to help you control your money by directing it where you want it to go.

Remember that a budget is more than just bills and expenses, it’s your life. 

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