Money matters

When the money you have is limited, it’s important to keep track of your finances. The best way to do this is by working out a budget. 

A budget is a money management tool that allows you to plan how much you spend or save each month. It also helps you keep track of your spending habits.

To create a budget, you first record all the money you have coming in, like your salary or wages, benefits, and pensions. You then deduct against payments you make, like your rent or mortgage, council tax, insurance, and other living expenses.

If you don’t have enough money to do everything you want, your budget can help you decide what to prioritise.

Citizens Advice Waltham Forest has a tool you can use to work out your budget.

• Citizens Advice Waltham Forest can help you manage your money, set up a budget and advise you on benefit claims.
• The Money Advice Service can advise you about running a bank account, planning your finances, and cutting costs.
• National Debtline gives free, confidential, and independent advice about how to deal with debt. You can call them on 0808 808 4000.