Budgeting

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Manage your money effectively to Save and get out of Debt

Do you struggle to manage your money effectively? Sometimes it can seem like money comes in and out of your account so quickly that you lose track of where it is going, and this can make it very hard to save or put aside any money to pay off your existing debts. However, there are a number of straightforward steps that you can follow to ensure that you keep on top of your finances. More info

For example, set up direct debits to leave your accounts at the start of the month, so that you know exactly how much you have to work with once your monthly commitments (such as the phone and utilities bills) have been taken care of. You may find that you actually have more left over than you expected! Once you have paid the monthly bills, use one of our household budget calculators to work out how much you should allow for all your essential spending over the month. By sticking to this plan, you will be able to be stronger about resisting the impulse buys that can inflate your living costs each month. You should also consider withdrawing your weekly 'allowance' from the bank at the start of the week and leaving your debit/credit card at home. All of these steps will help you to keep control of your finances, and avoid getting into an end-of-the-month money panic. Less

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Family and Household Budgeting

When you are buying food for a number of people, it is easy to lose track of your spending. However, with a bit of forward planning, you can save significant amounts on your weekly shopping bill, giving you some leftover cash at the end of the month to use for savings, paying off debts, or even a treat for a special occasion!

Staying Healthy on a Budget

It may sound obvious, but it costs you far less when you're healthy than it does if you're ill, so this is another reason to look after yourself. This does not necessarily have to involve an expensive gym membership or pricey food, there are many ways in which you can have a healthy lifestyle without the huge price tag. Click on the title for more money-saving ways to stay healthy and eat well on a budget.

Budgeting when Shopping or Dining Out

It is perfectly possible to save money on 'luxuries' such as clothes shopping or going out for dinner, meaning that even in the current economic climate you can allow yourself a few treats. The important thing is to plan in advance, and set yourself a strict weekly (or 'per item') budget, as this will help you to avoid overspending or living beyond your means.

Travelling on a Budget

When you travel in the UK or abroad, you can save money simply by being a little organised. Buying train and coach tickets in advance can save you up to 40% of the price of the ticket (and even more on train travel if you are aged 25 or under or a full-time student, and therefore eligible for a Young Person's Railcard).

Budgeting for a Wedding

There are always horror stories about the astronomical bills people are faced with when they get married, so you will be relieved to know that there are many ways to create the perfect wedding day, without being stuck paying for it for years to come. Find useful wedding money-saving tips on the SimplyFinance.co.uk website.