Having a personal budget will help you manage your money and your spending!
A budget is basically a plan for how you are going to spend your money.
Once you have worked out what you HAVE to spend your money on (these are the things that you NEED) - then you know how much money you can spend on the things you WANT.
Using our budget planner write down all the things that you spend your money on.
Think about: Things you HAVE to pay for (bills), things you pay for everyday (drinks, bus fares) and things you buy occasionally, like birthday gifts.
Making your money go further
There is a saying that goes ‘look after your pennies and your pounds look after themselves’
The interpretation of this is - if you manage your money carefully thinking about the small amounts that you spend - you WILL be much better off!
Generally what we spend our money on falls into two different categories of NEEDS and WANTS…
NEED = transport, rent, food, bills - these are the things you can’t really do without.
WANT = clothes, going out, magazines - these are the things that you like to have.
Use the budget planner to work out your personal budget and your financial WANTS and NEEDS.
