![]() The trick to saving is to make a habit of it. If you can get yourself into a position where you’re spending less than you’ve got coming in, you can start planning out a strategy for saving money. Look a little closer at those expenses you’ve been recording to see if there’s anything you could prune back enough to balance things out. When the balance of your budget seems to be tipping that way, it’s time to start looking for ways to either boost your income (like renting out an unused room, for instance) or to cut back on your spending. If you can’t do that, then you’re going to be running up debts over time. This is going to sound pretty obvious, but the main goal is to keep your spending lower than your income. The important thing now is to make good use of it. That’s pretty much your basic budget in a nutshell. For costs that crop up only once a year or so, feel free to divide them by 12 when you slot them into your monthly budget, to keep things nice and simple. This kind of spending can be difficult to account for – but again, averaging the numbers based on what you’ve splashed out in previous years is a good start. This is where you record the cash you spend on one-off emergencies, repair bills and so on. ![]() Next up, give some thought into the spending you’re doing on a less regular basis. Once you’ve got those sorted, move on to your other regular expenses, like transport costs (whether that’s petrol, public transport tickets or both), grocery bills and any medical costs you’ve got, like prescriptions or private health insurance payments. We’re talking about your rent or mortgage repayments, Council Tax and other essentials like energy and water (although there are a few ways to help with those – see our guide, “6 Easy Ways to Save on Gas and Electric Bills” for more). Start out with the costs that you really can’t do too much to bring down. ![]() Now let’s take a look at the other half of your budget: your regular spending. ![]()
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