Budgeting - your
income
Creating a budget starts with your income.
- Firstly, make a list of all the income you
receive. From employments - your salary, your spouse
or partners salary - and earnings from any additional
jobs. If your income is dependant on working overtime, make
a note of how many extra hours per week you need to average
to make ends meet.
- Secondly, note down any State Benefits received, such
as child maintenance, State Pension. Make a note of how
long these benefits will last and what, if any, the income
restrictions are.
- Thirdly, record any unearned income you receive such as
from investments or interest paid on money deposits,
property rental income, or from any other source not shown
here. And note whether all taxes are paid on these incomes
or whether you need to pay tax later.
Budgeting your
assets
Budgeting your
liabilities
Budgeting your
expenses
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