Working out your personal budget
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Filling in your personal budget
Working out a personal budget is important because it helps you:
- see how much money is coming into your household;
- see how much money is going out;
- see how much money you have left;
- work out the best way to deal with your debts;
- work out affordable offers to creditors if you think this is the best way to deal with your debts; and
- plan your future spending.
Once you have finished completing your personal budget, you will be able to see:
- all the money that you have coming in;
- all the money you have going out;
- a list of all your priority debts and any payments that you need to make towards these debts;
- how much money you have left over to pay your non-priority debts; and
- a list of your non-priority creditors and what you have worked out you can pay to each creditor.
Why do I need to fill in a personal budget?
If you have problems using Your budget, contact us for advice.