Task 2: Start putting your budget together using our free template
We will add these to a budget form. Here are some templates you can use:
Now you have written everything down, it is time to start building your budget using our template.
Once the budget is filled in, save it and print it if you can.
You might find it easier to make a copy of our template in a format that works with you.
Now, find out what is left over
Next, you need to work out what you have left over each month, once everything is paid for. So, to do this, take away what you spend each month from your total income.
Have you got some money left after paying for everything? If so you have what we call a ‘budget surplus’.
If you are spending more money than you have got coming in, you have what we call a ‘budget deficit’.
Whatever you have - or do not have – left over will determine what the best debt solution for you might be. We will take a closer look at this tomorrow.
For now, take a deep breath and relax. Call a friend, go for a walk, or watch your favourite TV show.
Be very proud of yourself. You have come a long way already. There are just a couple more steps to go until you get your debt under control.