Household Budgeting Checklist

Household budgeting helps you manage and control your month’s spending. An itemised list of standard income and expenses so you can plan how you spend your money and save.

Budgets can help you manage money, control spending, save more,  stay out of debt or pay off debt.

Household budgeting is about living within your means, saving money and being a little more frugal where possible.

Keeping a track of your income and outgoings allows you to analyse your finances identifying if overspending. Help get a full picture of your finance limits.

Gross income the amount of salary you get paid before any deductions are taken like taxes, health, pension. Net income is the left over amount after these deductions. If self-employed you can have a fluctuating income so base it on an average income.

Expenses have fixed cost elements and variable use your bank or credit card statements to help you figure out a list.

Subtract all expenses from your income, to see if you earn enough to cover costs or not. Any negative figure, you need to make some adjustments and work out if you spend more than you earn?