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When working out your budget you might find it easier to match the time frame to when you get paid. That way you can see what has come into the kitty and what has gone out. Remember to match your bills to your time schedule. For instance, if you get monthly bills and you are doing a fortnightly budget, you will have to halve them to estimate what you pay per fortnight. Or you might prefer a quarterly or even an annual budget.

You might like to divide your bills up into categories such as groceries, utilities, fuel, mortgage repayments, etc. This will make it easier to keep track of. When you first start a budget, spend one week doing a daily accounting of all your expenditure. Include things like cigarettes, drinks, snack bars, magazines and transport. This way you can see what you really spend your money on; you may get quite a shock.

When you estimate your expenses, include any savings that you intend to commit to. If you don't class saving as an expense, you won't put it aside, right? Once you've worked out your total income and your total expenses, subtract the latter from the former. If you can't do that, then you are spending more than you make and will need to revise your lifestyle.

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