Finances
ALL INFORMATION SUPPLIED ON THIS PAGE AND SITE ARE SUPPLIED ON A NON-ADVISORY CAPACITY ONLY AND WE ARE THEREFORE NOT ACCOUNTABLE FOR ANY OUTCOMES HAD THROUGH USE OF ANY INFORMATION SUPPLIED ON THIS SITE. SEE DISCLAIMER
Step 1: Categorise your expenses
High Priority such as Rent, Bills and Food
Good Categories for a budget include
Rent
Morgatge
TV/Internet
Electricit/Gas
Landline Phone
Mobile Phone
Health Insurance
Car Insurance
Rego
Travel
Credit Card
Other Debts
Food
Savings
Other Expenses
Step 2: Record all sources of income and expenses The next thing to do is to make a record of all your income and the amount that you need to or have available to spend in the categories each week. Try keeping a spending diary and bank transactions these will help create and monitor your budget.Check your budget monthly
Step 3: Analyse your data Reflect on your data by making monthly comparisons on expenses. Ask yourself if you have stayed within your budget. If not, reflect on ways you can cut down on expenses on the various categories
Step 4: Budget review Review your budget on a monthly basis to make sure you are staying on track. At the end of every month, take some time to sit down and compare the current month’s expenses with the previous one to see if there is any improvement in your budgeting process. Evaluate how successful your budgeting strategies for the current month have been, and think of better ways to cut down on spending for the coming months.