Budget Planning

If you want to take control of your finances, creating a budget might help.

Budget Planners are a helpful way to see exactly where your money goes each month. Benefits of a budget include being:

• Less likely to end up in debt

• Less likely to get caught out by unexpected costs

• More likely to have a good credit rating

• Able to spot areas where you can make savings

Budgeting will help answer two key questions:

1. Do I spend more than I earn?

   An instinctive assessment is easy – if you're eating up your savings or building up debts, you're likely to be overspending. Yet before you can address this it's important to get an accurate idea of the size and scale of the problem.

   Major overspending can lead to a debt spiral and severe problems, that's why a Budget Planner is designed to provide a definitive assessment of your finances.

2. What can I afford to spend?

   Once you know where you're spending, you can start to alter and prioritise what you do with your money to enable you to stick within your means.