Budget Planner FAQs

A budget planner allows you to keep track of your spending and therefore save more money. The following are some frequently asked questions on planning a budget.

What is a budget planner?
A budget is an outline of the money you earn and what you buy in a period, usually a week or a month. The idea is that you spend a certain amount and cut out any unnecessary expenditure, allowing you to save more.

Do I need a budget planner?
Some form of budget planner is recommended for most people. If you are saving to buy something, like a car or holiday, a budget planner can be a good way to help you meet your savings targets.

What is the best way to plan my budget?
Spreadsheets are often the best way to keep track of your expenses. This will allow you to make changes if you have any unexpected expenses that come up.

What information do I need to set up a planner?
You should have your income and expenditure details including your regular expenses such as household bills and loan repayments. When entering your income amount, make sure to use your salary amount after tax.

Are there any tips for sticking to a budget?
One useful tip is to set a number of small goals for yourself. When you achieve your target this will motivate you to continue saving.