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How to budget money: My Budget

Struggling to pay your rent?

Managing your money and household finances can be hard - here are some tips to help...

Try making a spending diary to record and manage what you spend in a week. It can be an easy way of cutting back on some non-essential items.

Simply record what you spend over the course of a week then:

  • Identify the difference between things you need and things you want
  • Highlight where you may be able to cut down on some non-essential items

Start becoming a great money manager now by viewing and printing our spending diary.

Where can I cut back my spending and save cash?

There may be items that you buy regularly that add up to more than you think. Could you cut back on these or manage without them completely?

The Money Advice Service has a calculator to help show you how much cash you could manage to save if you cut back spending.

Use the calculator here.

Budget Calculator

Using our budget calculator will help you to manage your money by budgeting properly.

Using the calculator, you will be able to:

  • Work out how much money is coming into your household - (known as "income")
  • Work out how much money your household is spending - (known as "outgoings")
  • Work out how much you have left.

To complete a budget summary and become a better manager of  your finances you will need:

  • Time
  • Bank statements
  • Your payslips
  • All household bills
  • Receipts

Top Tips for budgeting and managing your cash:

  • Make sure you know how much money you've got coming in
  • Put cash aside for what you need before you buy things you want
  • Spend less money than you earn and you will never go over budget


If you find that you have more going out than you have coming in, there are different ways you can cut back on your spending.

There are different ways you can increase your income from getting the right benefits to finding work. You can also find out how to save with our money saving tips, customer offers and using the above cut back calculator.

Find out more about getting the most out of your money here.