Budgeting
Doing a budget to work out how much money you have coming in and going out is a great place to start. There are many budgeting tools available to help you do this, however a debt advisor or a money advisor will be able to help you if you find it difficult to do on your own.
Here are our top tips
Tip!
When doing your budget be as honest and accurate as possible.
Put down what you actually spend, as opposed to what you think you should or could spend.
Put down what you actually spend, as opposed to what you think you should or could spend.
Tip!
Most budgets are done for a calendar month; keep this in mind when adding your income and outgoings. For example, to work out the monthly sum for something you pay weekly you will need to multiply the sum by 52 (weeks), then divide by 12 (months).
A budget tool will do this for you automatically.