Writing a Budget
Writing a simple budget can help you manage your money and reduce financial stress. The trick is to balance your spending with the money you have coming in and to make your essential costs like rent and food a priority. We’ve put together a number of Money Saving Tips that can help you achieve this.
By using our budgeting tools, such as the Forecast Tool and Cardiff University App , you will be able to see what money you have coming in and what money you have going out (and when!) You will then have a good idea of what you have left over for fun, it’s easy to lose track of this sort of spending which can leave you short of rent.
Breaking your budget down in to a weekly or monthly plan will help you keep on top of your finances, so you can make your money stretch until your next funding instalment or payday.
Sometimes it can be really difficult to figure out how much money you spend on things you need or things you just want. A spending diary can help you with these decisions, so you can balance your purchasing choices with what you can afford.
To help you get started, why not take a look at our sample budgets and try filling out a budget sheet for the term.