How To Make A Budget Plan That Will Stick

Making a budget is the most effective way to save money, manage your bills, and put money towards whatever you most need or want to buy.

It’s something that I’ve done since the moment I started earning my own money. It’s satisfying for me to know what I need to put aside and what I have free to spend! And it means I stay in control of my finances, even when things go awry, or a big pay out comes up.

I’m going to walk you through how I plan my budget, and give you some ideas on the best way to make a successful finance plan!

To start, take a piece of paper, and write Budget Plan at the top. I use my bullet journal, as this is where I write anything important!

budget planner example page in my bullet journal

(see my bullet journal post How To Start A Bullet Journal: My Tips and Hacks To Getting It Right First Time! for an in-depth look at starting your own bullet journal).

Incoming Salary

The first thing you need to do is work out your average monthly take home pay. This might be difficult if you work shifts etc, and your monthly pay changes. In this case, you will need to do a monthly budget once you have been paid.

If you are salaried, or have a regular working pattern, then you will know your take home pay.

This makes it easier to make a solid, long-term plan!

Write at the top of your budget plan: Salary = £XXXX.

Your Bills & Out-Goings

Once you know your salary, and have written it at the top of your plan, the next thing to do is write down a list of your monthly out-goings.

A handy way to find these out, is to use your internet banking/bank statement. You can use it to clearly see all the things that have coming out of your bank each month.

I usually write it out like this:

Rent & House Bills – £XXX
Car Insurance – £XX

I write down all of my outgoings like this, and then total up. This gives me a clear idea of what I have to pay each month.

 

Essentials

Once I have got all of my bills written down, I calculate the amount I spend on each of the essentials I have to buy each month.

For me, my essentials consist of food, petrol, and tobacco. For you, these may be completely different. Think of the things you have to buy each month.

I calculate a rough average, and I usually over-compensate to make sure I have plenty of funds to cover these expenses.

These get written down underneath my outgoings, and are added to the total.

Extra Commitments

The final outgoing consist of things that I need to pay for each month, but aren’t classed as bills or essentials.

This is things like my nail appointments, my hair cuts, and anything else like that.

Same as above, just add them to list of outgoings.

The Calculation

Once you have written down everything that you spend money on, write the total at the bottom.

Then, it’s as simple as writing down the difference between your salary and your total outgoings!

Savings

You might be left with some money at the end of this. I would always advise to try to work on some savings! It can be as little as £20 a month, but it’s better than nothing. It’s a safety net at the end of the day!

Not only that, but you might have something you are aiming for. If you are aiming for something, and you have a time limit, then divide the amount up into the months until it’s due, and give yourself the monthly amount that you need to put away.

If you don’t have a time limit, then try to put as much away as possible!

And it’s as simple as that!

Making a budget gives you clarity and control over your finances. It gives you a plan and an aim for your money.

Whilst money is very important, and it’s what makes the world go round, it’s not the be all and end all of life, and once you’ve got it sorted, you can worry about other things!

About The Author

Laura Jacques

Hi, my name’s Laura! I’m obsessed with nude lipsticks, messy buns and cushions. I have so many cushions…
I am passionate about bringing achievable and realistic advice and tips to other women. It’s all about running your own world, and looking & feeling good whilst you do it ♡
A beauty addict, blogging coach and missionary for women’s empowerment.