4/16/2024 0 Comments Family budget planner template![]() ![]() Websites such as Money Saving Expert and the Money Advice Service are full of tips on how to shop smarter and make savings. Are you spending more than necessary on clothes? Does your essential food budget actually include the occasional takeaway? You might be able to save money by choosing a slower internet package, watching Freeview TV instead of subscription channels or moving to a new energy provider. Look over your list of essential spending again, to see if you can trim anything back. If you’re spending more than you’ve got coming in then you need to take action. As long as you closely follow your new family budget, you won’t need to get into debt for the essentials. If you’re breaking even then you’ll need to make sure that you’re very careful not to overspend. You can add some of that spare money to your budget as spending money, for non-essential purchases and treats. If you’re left with a positive figure, you’re doing well. You could use an online budget calculator, a personal budget spreadsheet template, or an app such as OnTrees to help you do this. You need to work out all of your income and essential outgoings and work out how much you have left each month. If you want to know more about benefits you could be entitled to and are not yet claiming you should speak to the Citizen’s Advice Bureau or Money Advice Service.ĥ) How do I work out my disposable income? Remember that different benefits can come in at different times of the month and that some are paid weekly, some fortnightly and others monthly, so check your statements carefully. This will include any benefits that you receive, such as child benefit and working tax credits, along with money that you earn as wages or a salary. Write down a list of everything that makes its way into your bank account. If you already put money regularly into a savings fund, remember to class it as an outgoing and add it to your list. If you’ve purchased essentials during a few different shopping trips, add the prices together. If prices vary from month to month, go with the highest figure. Once you’ve gone through your statements with a highlighter, make a separate list of all essential purchases and include the total that you’ve spent. ![]() Highlight any essential purchases, such as shoes for your children or household utility bills. Grab at least one highlighter – you might find it easier to highlight different things in different colours – and go through the statements that you’ve collected. You should have statements for at least the last three months, from all bank accounts and credit cards that you use to pay for your purchases.īe clear about your regular outgoings and essential purchases. You can also go into your bank’s local branch to ask for official printed copies, but there may be a charge for these. If you don’t have paper versions of all of your statements then it makes sense to print them off. Just follow these seven easy steps to create your very own family budget planner.Ĭollect all your bank statements, credit card and store card statements, together as well as any other relevant paperwork. Having a family budget will help you to keep track of where that money’s really going. Between paying for groceries, buying new school uniforms and dealing with the bills that drop through the letterbox, the pounds and pennies can quickly disappear. ![]()
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