Budgeting helps you:
■ Know where your money is going
■ Avoid debt, reduce your debts
■ Make savings and have more choice
about what you do with your money
Where do you start?
1. Start by keeping a spending diary, so that you
can see where your money is going.
Write down what you spend each day for
a month.
2. Be as honest as you can and make sure
you include everything you spend your
money on; you might be surprised by the
kind of things you are buying.
3. Make sure you are claiming any benefits you
may be entitled to. You can get advice from
the New Charter benefits section on
0161 331 2200 or Tameside Citizens Advice
Bureau 0161 342 5005.
You can also look the Government’s website
www.gov.uk/browse/benefits.
4. Next, list any money that you pay
monthly / quarterly, such as rent and
bills. If you have any money left over
after you have covered your essential
costs this can be used to pay any debts
you may have.
5. Now, look at your spending and make a note of
anywhere you can save money.
6. Finally, complete the Budget Planner on
the next page, using the figures after any
savings you’ve made. Be honest and
make sure your budget is a true picture
of your finances.
7. Remember, you need to decide whether to use
weekly or monthly figures on your budget sheet
- don’t mix the two.
■ To change weekly figures to monthly figures:
Weekly figure x 52 (weeks) divided by
12 (months)
■ To change monthly figures into weekly figures:
Monthly figure x 12 (months) divided by
52 (weeks)
Don’t spread your
money too thinly!
Money coming in
Money going out
Wages (Self)
...............
Rent
...............
Partner
...............
Council Tax
...............
Water Rates
...............
Benefits/Tax Credits
Income Support
...............
Gas
...............
Job Seekers Allowance
...............
Electricity
...............
Tax Credits
...............
Food/Toiletries
...............
Child Benefit
...............
Cleaning Materials
...............
ESA
...............
Clothing
...............
Universal Credit
...............
T.V.
...............
Disability Living Allowance
...............
T.V. Licence
...............
Telephone
...............
Mobile Phone
...............
School Meals
...............
Maintenance
...............
Magistrates’ Fines
...............
Child Care Costs
...............
Vets Bills
...............
Travel (School/Work)
...............
Car Loan/H.P.
...............
Fuel
...............
Road Tax & Insurance
...............
M.O.T.
...............
Repairs/Servicing
...............
Others
...............
Others
...............
Savings
...............
Holidays etc
...............
Hobbies etc
...............
Existing Loans
...............
Cigarettes/Alcohol
...............
Others
...............
Any Other Income
e.g. Pensions
Total Income (A)
Total Income (A)
...............
...............
...............
- (Less)
Total Outgoings (B)
...............
= (Equals)
Amount Left Over (C)
...............
Total Outgoings (B)
...............
Money Saving Tips
Free local advice providers
■ Go to charity shops
New Charter Homes Money Care Team
0161 331 2200 - Welfare Benefits
0161 331 2456 - Debt Advice
■ Use BOGOFs (Buy One Get One Free)
where you can
■ Shop around
■ Check for offers
■ Shop with a friend and share the taxi cost
■ Use coupons
■ Use clubcard points
■ Try not to shop at the corner shop
■ Use local colleges for hairdressers
■ Don’t shop with kids or your partner
■ Use promotions e.g. Orange Wednesday
■ When you go to the cinema buy your
sweets and drinks beforehand
■ Shop online
■ Make a shopping list and stick to it!
■ Don’t shop when you are hungry
■ Use second hand stuff and sell things
you don’t need
■ Always ask yourself - do I need it or
do I want it?
■ Use price comparison websites to help you
get the best deals
■ Turn off televisions, computers and games
consoles at the mains, never leave them
on stand by
Tameside Welfare Rights
and Money Advice Service
0800 074 9985 - Free telephone welfare
benefits advice
Tameside Citizens Advice Bureau
0161 342 5005
www.adviceguide.org.uk
(for information on a range of issues)
Tameside Housing Advice
0161 331 2700
www.tamesidehousingadvice.org.uk
Shelter
0808 800 4444
www.shelter.org.uk
MiNT
www.mintameside.org.uk
Free national advice providers
National Debtline
0808 808 4000 - Free telephone advice
www.nationaldebtline.co.uk
(for fact sheets and other downloads)
Payplan
0800 208 2816 - Free debt advice
www.payplan.com
Step Change Debt Charity
0800 138 1111 - Free debt advice
www.stepchange.org
Money Advice Service
0300 500 5000
www.moneyadviceservice.org.uk
Resource Housing Reg. No. 2111