Whether you’re struggling with problem debt or not, building a budget is the first step to taking control of your finances. A balanced budget will help give you a clear picture of how much money you have coming in each month, what you’re spending and where you’re spending it. It can also help you with saving for the future.
Three steps to building a budget
Start with your income. How much money do you have coming in?
What’s your expenditure? How much are you spending and what are you spending it on?
Balance your budget. Work out if you’re spending more than you have coming in and see where you could make changes.