Budgeting - your expenses
You need to compile a comprehensive list of all your
expenses; every single item of expenditure. Leave nothing out.
Use the checklist below to nudge your memory over what you
spend. It can be useful, over a period of a month or so, to jot
down in a notebook every item of expenditure you make, so that
you can check that your Budget is complete.
- Tax and National Insurance (If you are self
employed)
- Mortgage or Rent payment
- Mortgage Endowment or Mortgage Protection
insurance
- Mortgage Payment Protection insurance
- Road Tax
- Car insurance
- Car maintenance
- Petrol
- Emergency Service membership
- Train, bus and coach fares
- Private education, evening class, distance
learning
- School transport costs
- School trips
- School meals
- Life Assurances / Critical Illness cover
- Private Health insurance
- Pet insurance
- Food
- Household supplies - cleaning materials,
toiletries
- Clothing - for work and leisure
- Telephone - landline and mobile, internet
connection
- TV Licence
- Satellite TV
- Pets – food, accessories, vets bills
- Pampering – hairdressing, facials, nails, waxing
etc
- Personal – medicines, dental work, spectacles etc
- Smoking
- Subscriptions and memberships
- Entertainment
- Meals out
- Takeaways
- Alcohol
- Pub
- Gambling – Casino, bookmakers, Lottery
- Hobbies
- Sports activities – tickets, clothing, equipment
- Events tickets
- CDs, DVD rental and purchase, computer games
- Newspapers and magazines
- Holidays and travel
- Christmas expenses
Want to double check what you've listed so far?
Budgeting your
income
Budgeting your
assets
Budgeting - your
liabilities
You should now have a detailed list of all your Income and
Assets, your Liabilities and your Expenses. You are now in a
position to review your finances in detail, and to create a
working Budget that will enable you to manage and control your
debt. You can now move to the next stage. and start Taking Control Of Your
Finances
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