The SaveFast Budget
The key to reining in your spending and borrowing, and getting back on track with your savings is first to step back and see where all the money is going. By filling in the budget planning sheet below you’ll be able to see how much is coming in, where you’re spending it, what your debts are costing you, and what you’ve got left to set aside for the future.
Once you’ve filled in the planner see if any of our thrift tips could leave you with more money to save at the end of the month. At least they should give you some food for thought. Hopefully you can see what a difference small lifestyle changes can make over time to your savings.
So try our SaveFast Budget and you could regain pounds in just minutes!
When filling in the planner, try to think about everything you earn, spend and save in an average month. Be honest, and where items you think of aren’t included on the list, make sure you add them into the ‘other’ category.
Budget planner
Money coming in (per month)
Earnings
- Your take home pay: £
- Your partner’s take home pay £
Other sources of income
- Income from savings and investments: £
- Rent from tenants/lodgers: £
- Other: £
TOTAL: £
Money going out (per month)
The basics
- Mortgage/rent: £
- Council tax: £
- Gas: £
- Electricity: £
- Water: £
- Telephone: £
- TV license: £
- Groceries: £
- Clothing: £
- Childcare costs: £
- Maintenance/alimony payments: £
- Vehicle running costs: £
- Other travel costs: £
- Insurance (home, life, motor): £
- Other: £
The ‘luxuries’
- Lunches/coffees (not homemade): £
- Eating out/social drinking: £
- Outside entertainments (eg cinema/theatre): £
- Gym/health club/sports club: £
- Hair/beauty treatments: £
- Home entertainments (eg CDs/DVDs): £
- Satellite, cable or digital TV: £
- Magazines/newspaper: £
- Mobile phone bill: £
- Lottery tickets/betting: £
- Other: £
Non-mortgage debts
- Credit card/store card repayments: £
- Personal loan repayments: £
- Other: £
Monthly savings
- Stockmarket/fund investments (eg equity ISA): £
- Savings account/cash ISA/savings bond: £
- Other: £
TOTAL: £
AMOUNT LEFT OVER TO SAVE
(per month): £
Ten top thrift tips
- iTunes is so quick and easy. But watch out, 3 downloads a week mean a total cost of £125 every year.
- Gym membership can cost from £400-£1,000 a year. Do you really use it? A run in the park is free!
- Your morning Starbucks pick-me-up can cost over £360 a year- natural water is a cheaper and healthier option.
- Shopping online is so easy- but do you really need another bargain off eBay?
- Planning ahead pays off; making a sandwich at home instead of buying one from the local shop can save you over £500 a year!
- Do you know someone else at work who lives near you? Why not car share - save money and the environment at the same time!
- A monthly subscription to Sky can cost £500 a year. What did you do before satellite TV?
- When you go shopping, do you make a list? You could save money by buying what you need, not what strikes you as being useful!
- Trying to hit the jackpot on a weekly basis can cost you over £100 a year. How many friends can you name who’ve won more than that?
- Libraries are free to join and local to most areas. If you buy and read two books a month, you could save over £200!
For further information on the subject contained in this guide, please contact your independent financial adviser.