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Creating a budget isn’t just about managing your money in order to tackle debt and reign in your spending, it can also help you find a way to spend cash on the things that you enjoy. Make a list of things that make you happy; it could be going to the cinema, buying the latest PS4 game the day it comes out, owning the complete works of Franz Kafka, or just a Friday night takeaway with the family. Now have a go at creating a budget that allows you to achieve these things.
Here you can find a list of Budgeting tips in order to make sure that you are spending less than you’re bringing in. Simples! Many people think of ‘budgeting’ as depriving themselves, but that certainly doesn’t have to be the case. It merely allows you to know how much money you have coming in each week or month, how much you have to cover all the essentials (rent or mortgage, existing debts, bills, groceries etc.) and therefore how much you have left to spend on the things you love. The good news is that sticking to a budget will give you the peace of mind that comes with knowing you have the essentials covered, whilst allowing you to free up money to spend on those little treats, guilt-free.
Our top 10 budgeting tips
If you follow our budgeting tips it shouldn’t be too difficult making a budget, but sticking to one always proves trickier! With these handy hints, you can do it!
If despite all this, you’re still struggling to balance your budget after cutting back on spending and are concerned about the amount of money you owe, it’s important to seek help as soon as possible. Spending more than you earn each month isn’t sustainable in the long-term, and will push you further and further into debt. To find a provider that can help consult the Money Advice Service.