Having a budget is a positive step to help you control your money rather than allowing your money to control you!
Most financial advisers will tell you that it is extremely important to spend time working out your monthly budget correctly. Have a look below at some useful budget planner tools
Find out how much money you have coming into your household and how much you have going out:
If you are in debt a breakdown of all your money coming in and how you spend it, it will help you to understand how much you can realistically afford to pay towards your debts.
Before you make any decisions about how you repay your creditors you need to be sure that you can afford any proposals you offer. Promising to make payments you can't afford can actually end up making matters worse.
Did you know? Priority debts are ones where serious action can be taken against you if you don't pay what you owe. These include things like; your Mortgage or Rent , any loans secured on your property, County Court Judgments (CCJs) or Magistrates' Court fines, Child maintenance, Council tax, Tax / VAT / National Insurance payments, TV licence, Essential Hire Purchase goods (such as your washing-machine or car, or overpayments for benefits & Working / Child Tax Credit.)