How To Live On A Budget
|Money : Money Management|
It can be quite OK living on a reasonable budget, as long as you are organised and take the time to plan your available resources up front.
What does this mean?
Well, the first thing to do is to write down a list of all your expenses each month.
Start with the Fixed costs: e.g. mortgage or rent, water, electricity bills, council tax and so on
Once that nasty list is written, note down what your income is for a month.
Next, if you are trying to save a certain amount each month, write that into the Fixed costs box.
Now, take away the total costs from the total income - and what you have left is the budget to live on for the month.
The best thing to then do is to divide by four to see how much money you have to spend each month - for instance ?200 a month left over means you must budget to live on ?50 a week.
Questions about living on a budget: