Budgeting Ideas for Talk Money Week

Budgeting is an essential tool in managing finances. You can track your income and expenses, save money, and achieve goals. 

This "Talk Money Week", we have listed some budgeting tips to help you:

1) Make a monthly budget

  • List all sources of your income
  • Categorise your expenses, including fixed costs such as rent/mortgage, utilities, and food shopping, as well as some flexible costs such as eating out and entertainment
  • Set a realistic budget for each, making sure that your total expenses are less than your income

2) Keep track of your expenses

  • You can use a budgeting app, spreadsheet, or old-school pen and paper! Doing this will allow you to see how much you are spending and on what. 

3) Keep back some emergency money

  • Be sure to have a backup of funds to cover anything that may go wrong, such as car or household repairs.

4) Prioritise savings and pension

  • Keep a portion of your income for savings and add to your pension if you can afford to.

5) Stop unnecessary payments

  • Review your expenses and look at any areas you can cut back. This could include unused subscriptions or reducing how often you go out to eat.

6) Manage your debt

  • If you have any outstanding debts, be sure to create a plan to pay them off at an affordable rate, and make sure to focus on high-interest debts first. 

7) Set-up direct debits

  • This can prevent late payment fees.

8) Review and adjust regularly

  • To remain on track with your goals, it is important to regularly review your budget, and make changes where needed.

9) Take advantage of high-interest savings accounts

  • There are several banks and building societies that have competitive interest rates which you may benefit from. Make sure to read the T&Cs and get the right account to suit your needs.

10) Seek Professional advice

  • Consider speaking with a financial advisor who can provide personalised advice.

Recent posts

Everyone has their own traditions at Christmas time, but we have put this short blog together to help you get ready for the festive period ahead.

Getting a mortgage when you are self-employed can be tricky, but it certainly isn’t impossible.

There isn’t such a thing as a “self-employed mortgage” - you will be applying for the same mortgages as anyone else. The main difference is you will be required to provide more evidence of a reliable income.

Stress-Busting Tips

25 Oct 2023

We have written a short blog of some stress busting ideas that you may want to put into practice, whether you're in the process of buying a property, or not, you may find these tips and techniques helpful.

Why have interest rates been increasing? when will they go down? And what does this mean for you?

We have created this short guide to provide self-care tips to support your physical and mental health.

Selling up? It’s important to make your house as appealing as possible to potential buyers. Good decorating can help with first impressions, and increase the perceived value of your property.

With the cost of living affecting so many of us, we have made a list of budget-friendly activities and ideas for you.