Budgeting

(This is in no way financial advice. But budgeting is something that I have done myself and i think that it is really useful)

In this post, I have added links to useful financial help and information sites, that I have used myself and find really good.

Creating a budget can help you to keep track of your money and hopefully save your money. It will help you keep track of what is coming in and going out. What you are spending money on and where you can make savings.

Use one of these budget planners linked below to create a budget.

(They’re both FREE to use)

First is The budget planner by citizens advice

the second budget planner is by a government service called money helper

Once you have made a personal budget. Use a bank account to separate your money into different categories like:

  1. spending on food
  2. Spending on clothes
  3. Spending on bills, Rent/Mortgage
  4. Mobile phone contract
  5. General Spending like everyday spending
  6. Special events like going out, Holidays.

Putaway however much money that you need per month

Pots or SpacesMonthly putaway
FoodClothesbills, Rent/MortgageMobile phone contracteveryday spendinggoing out, Holidays
£?£?£?£?£?£?

The bank accounts that I really like and use for this is Starling Bank and Monzo bank. I have also added reviews and a walkthrough for both of these bank accounts by Be clever with your cash Starling bank review and Monzo bank review (please look at the reviews)

The banks have things called pots for Monzo and spaces for Starling. These are places where you can put your money into separate places. In order to start budgeting.

The good thing about these banks is that they are completely free, you will not need to have a hard credit search to get them, they only do a soft credit search and they are financial conduct authority FCA registered) So your money is protected up to £80,000 if the bank was to go bust.

The negative thing about these accounts that I can see is. as their bank accounts are only app and desktop-based and your internet connection goes down, you will not be able to manage your money.

This is a list of brilliant money saving websites. Wich i have used myself.

https://moneytothemasses.com/

https://mot.moneytothemasses.com/

https://moneytothemasses.com/resources/28-day-financial-fitness-challenge-week-1

https://becleverwithyourcash.com/

https://www.moneysavingexpert.com/

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