Being able to manage your money well is a priceless skill to have.

This section aims to help you make a plan of how much you will need to spend on a month-to-month basis so that you are the one in control of you money.  It isn't the easiest thing to do but if you manage to do it then hopefully you will find you are able to enjoy going out more as you know you are skint!

 Budgeting is really just all about finding a balance between the money you are receiving and the money you are spending.       

                                      
Adding Up Your Income 

There are a number of ways in which you could be receiving money.

• Wages
• Benefits
• any money that your Parent/Guardian gives you.
• Savings
• Student Loan
• Grant or bursary

Figuring Out Your Spending

We will split your outgoings into two groups - Essential and Other Costs. 

Essentials

Other Costs

• Household goods
• Toiliteries
• Clothes Shoes
• Music/Films/Books/Magazines
• Social Activities.

What you do now is take the amount you have for your spendings away from your incoming money.  If you find that you are spending more than you are receiving then it's time to think closely on how you can change your spending habits.  Don't worry, everyone at some point has to do this.                                    

Handy Tips To Help Cut Costs

If you have to travel a lot by bus or train etc it is a good idea to buy a season ticket.

Stagecoach Tickets & Offers

 Megabus

Try to  buy everything in the biggest pack you can (unless it will go off).  This will safe you money in the long run.

Buy multi-use cleaners that work on floors, sinks, toilets and kitchen surfaces.            

Save money by only calling people at off-peak times.

Beware, some cash machines charge you for withdrawing your own money from your bank account.  Normally there are no charge cash machines nearby these ones so have a look around and try not to use machines that charge you.

You can get DVDs and CDs, and internet access from your local library as well as books.

Put on an extra jumper rather than turning up your heating - it's much cheaper!

Taking a shower is cheaper than having a bath as a bath uses up a lot more water.

  Closing your curtains in the evening will help stop  heat being lost through the windows.

 Switch your TV right off rather than leaving it on stanby.

10 cigarettes a day costs £64 a month!  If you quit then you can treat yourself to things with the money you would be spending on them!                     

       Only boil the amount of water that you need.

Tips

• If you are paid monthly, pay all your bills at the beginning of the month so you know what you have left to spend. 
• Pay your bills and do food shopping before you buy luxury items. 
• Manage your money. Allocate cash for each week so that you don’t run out by the end of the month.