Budgeting helps you manage your money. By planning what you need to spend your money on, and most importantly by sticking to that plan, you won’t overspend. Budgeting also helps you to allocate money for your savings.

Know before you go

Separate your spending into needs and wants by prioritising those things that you need to buy. Food, accommodation and bills need to be budgeted first.

Then you can allocate money to other things you want such as going out and buying non-essentials.

It may mean that you have to save up your money to buy certain things or miss the odd night out, but this is a better option than running out of money or going into your overdraft.

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