Budgeting

When it comes to budgeting it is always better to have the end in sight i.e what it is you want to do or have and how much you can afford to spend on this thing or end goal.

For example a holiday you could have a budget total but then that is divided between transit, accommodation,  food, drinks, nights out and activities/experiences etc.

Once you have a budget it’s then important that you review your budget as you spend money from the budget, then you can see if you are over or under with your spending so far and adjust accordingly. This is a great way to maintain your budget by tightening the purse strings or better still you can afford to be a little more lavish in other areas or you could put the savings to the next budget item be it a camera for your holiday snaps or the next holiday.

When it comes to budgeting some people don’t know how to price items in a budget, well to that I say “A price is better than NO price”, these days it’s so easy to grab a price online there should be no excuse to at least have a figure in, quickly enough you will be able to see if a cost stands out for what it is compared to other items, if you going on a walking holiday in the lake district for 4 day and your car is £200, food and drink is £200 and you accommodation is £2000 then something isn’t right.