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Budget calculated Monthly...
Accommodation
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Rent |
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Insurance |
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Electricity |
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Gas |
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Water |
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Telephone (not mobile) |
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TV license |
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Other |
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Total
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Living Costs
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Food |
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Eating Out |
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Toiletries/personal goods |
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Laundry/dry cleaning |
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Hair |
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Clothes/Shoes |
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Travel (Local) |
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Travel (To and from home) |
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Telephone (mobile) |
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Other |
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Total
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University Costs
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Tuition fees |
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Books /Journals |
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Stationary/Course supplies |
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Trips/Visits |
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Library fines/fees |
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Other |
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Total
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Entertainment
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Pubs/Clubs |
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Cinema/Theatre |
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Sport (watching) |
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Sport (doing) |
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Newspapers/magazines |
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Video/DVD hire |
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CD’s/Video/DVD |
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Satellite/Cable TV fees |
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Other |
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Total
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Financial
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Credit Cards/store cards |
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Personal Loans |
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HP/credit agreements |
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Other |
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Total
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Income
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Student Loan |
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Parents Contribution |
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Holiday Job |
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Part-time work |
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Sponsorship |
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Other |
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Total
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Totals
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TOTAL INCOME
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LESS TOTAL EXPENDITURE
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CONTINGENCY
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BALANCE
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It is important to pay for your priority costs first as they pose more serious consequences
The recipe for successful budgeting is……
ü Prepare in advance
ü Produce an accurate budget and then stick to it
ü Monitor you finances
ü Address any problems as soon as they take place
ü Seek help when needed – don’t ignore your problems
Outgoings higher than Income?
If having completed your budget and you find that your expenditure is more than your income, or there are periods where you have a deficit, then you should follow the procedures below.
ü Check your budget – check through your figures again to see if they are correct
ü Tighter Resourcing – look at your figures to see if there are any areas where you could spend less i.e. leisure and clothes, or are there any payments you could pay over a period of time. You should however still keep realistic figures.
ü Extra Income – there are a number of ways you can increase your income
