![]() Add these up (and make sure to round up!) so that you’ve got a good idea of all of your spending habits. ![]() These could include clothes purchased, your daily morning coffee or even movie date-night once a month. Then it’s time to identify the difference between mandatory outgoings (think rent or your phone bill) and your general lifestyle expenses. Split your outgoings into mandatory and lifestyle These will likely be fixed expenses such as a mortgage or car repayments, and then look at your variable expenses such as electricity, petrol or public transport costs for getting to work and food that you’ll likely pay each week.ģ. Make sure to factor in everything that you pay each month. Make sure this is accurate by understanding what your regular salary is before any variances (like overtime) and you’ll have how much money you’re starting with. ![]() The best place to start, is by knowing how much money you earn each week after tax and other deductions. This is simple if you’re paid monthly and your bills come out the same day, but if you’re paid bi-weekly or weekly you’ll need to take some simple steps to give yourself a weekly budget plan. Budgeting isn’t about being harsh on yourself, it’s about simply organizing your finances to know what you have to play with. No matter whether you’re saving for a rainy day, or a holiday, you’ll need to start thinking about budgeting. Set a weekly budget, prioritise your spending and save money. How to create a weekly budget If you’re trying to save money, budgeting is a great first step.
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