Budgeting

If you are trying to better manage your finances, it is essential to keep track of how much money you have coming in (income) and how much money you have going out (expenditure). You can download and print our simple budget sheet. If you have more going out than coming in then you need to see if you can:

Increase your income

• Could you increase your hours of work?

• Have you checked your benefits entitlements?

• Is there someone living with you who should be paying you some board?

Reduce your outgoings

• Are there any non-essential things on your outgoings list which you could cancel until your financial situation improves? For example: Sky TV, Gym membership, mobile phone contract?

• Can you reduce other items such as groceries bills? Visit www.comparesupermarketprices.co.uk to compare prices.

• Check your energy supplier is the cheapest for your needs and consider switching to save money. Visit www.uswitch.com for information.