Before you know which area of your budget you need to cut back on, you need to actually work out what your monthly budget is, taking into account all your income and all of your outgoings.
To do this you need to spend a quiet half hour with you recent bank statements and your bills to fill in a budget sheet. This will show all of your income and expenditure details and will help you to understand any areas of improvement.
I have made up a budget sheet here, that you are more than welcome to print out and fill in or there are stacks of different versions on line if you would rather download one to save.
When you have worked out your budget you may be surprised at the amount it says that you have left over each month - I know I was as I never have anywhere near the amount I should have! This means that you are probably spending unnecessarily, l didn't factor in what I was spending at the shop on the way to work or the treats that I was buying the kids. If this sounds like you, you should write down everything that you spend in a month or even a week and you will soon see where your money is going.
If, when its all on paper you have more going out than you have coming in then you need to take action NOW. Don't ignore it because it won't go away, in fact it will get worse.
I will post some information about financial difficulties later on this afternoon.
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