A budget is a list of all:
- the money you get each month
- the things you spend money on each month
Creating a budget is the first step in improving your situation.
A budget planner can be a helpful tool to see where your money is being spent. It helps you work out what options you have to increase your income and reduce your outgoings.
The Money Advice Service offers a free budget planner.
To complete a budget planner, you need to have information about your income and outgoings to hand. You can find most of this information on your bank statements.