Everyone can work out a Personal Budget. You don’t need to have any special skill or knowledge to do it. Personal Budgets are also called Financial Statements.
Why do a personal budget?
You can use your Personal Budget to show the people or company you owe money to:
- why they should accept lower payments from you or
- that you have no spare money to pay your debts at all or
- that they should offer you a different deal because you can’t pay the one you have now
Tips for doing your Personal Budget
Watch a video from The Money Charity introducing Personal Budgets
On-Line Tools for Budgeting
There are lots of tools to help you do a Personal Budget. We have looked at them and brought some good ones together here.
If you find another good one, tell us.