Budget Planner

If your money seems to have a habit of disappearing soon after you get it, a budget can help you get a clearer picture of where it's all going. It can enable you to manage it better, and even grow it. To work out your budget, follow the steps below:

1. Open the Budget Planner and fill in what you earn (your income), and what you think you spend and how often e.g. weekly.
2. Write down everything you actually spend money on over a week then enter the total sum into the Budget Planner. Then check out the gap between what you think you spend and the reality!
3. Now work out which expenses are fixed (i.e. you can't change them - like rent) and which expenses are flexible (i.e. you can really do without them, or buy a cheaper version).
4. The amount you can save each week should be the difference between your income and your expenses. If you aren't saving enough, keep adjusting (reducing) your flexible items until you have the right amount of money to achieve your savings goal. You could also aim to earn more money to increase your savings.

If you find you really can't save enough money to achieve your goals, then you may have to wait longer to achieve them or further adjust your budget. Starving for a week to pay for tickets to your favourite band is a bit extreme, but taking your lunch from home instead of buying takeaway isn't!

Get the stuff you want faster. Use Goal Minder to set up a savings goal and track your progress.