Before you start, it’s a good idea to work out your income and your spending.
A budget planner can show you how much you spend each month and help you get in control of your finances. Use the Money Advice Service’s free online budget planner to work out how much you spend each month.
To help you fill out the budget planner and get an accurate idea of your money, try and get together as much of your paperwork as possible:
This could include:
- payslips, P45s and P60s
- benefits letters
- mortgage or rent statements
- bank statements
- gas, electric, water and other utility bills
- credit card bills, personal loans and overdrafts
- mobile phone bills
- other living costs such as food shopping, buying clothes and going out.