YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS

ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Top Budgeting Tips

  1. Know what you spend in a month – highlight essential purchases on bank statements and supermarket receipts. Look at what you haven’t highlighted.
     

  2. Work out how much you need to save each month to pay for any significant expenses looming. Then, add this to your essential costs.
     

  3. Add up all the money coming in for a month, remembering some benefits are paid 4 weekly rather than monthly.
     

  4. Moment of truth – are you overspending? Add up all essential purchases and take away from money coming in.
     

  5. If you are spending more than you have coming in, you need to act now, look at your essential purchases and be honest – is there anything you can trim back?
     

  6. Set a limit of how much you spend on essentials and nonessentials and stick to it.
     

  7. Include savings in your budget no matter how small; even a tiny amount can make a difference for Christmas, Holidays or pay for financial emergencies in the future.
     

  8. Finances change, so keep a close eye on what your income and expenses are.