Step 2 Work out your business and household budget

​Working out your household budget

Working out a household budget is important because it helps you:

  • see how much money is coming into your household;
  • see how much money is going out;
  • see how much money you have left;
  • work out the best way to deal with your debts;
  • work out affordable offers to creditors if you think this is the best way to deal with your debts; and
  • plan your future spending.

Why do I need to fill in a household budget?

 
  • Once you know how much money you have left over to pay your non-priority creditors, you will be able to decide your best option for dealing with your debts.
  • You should save or print a copy of your budget so that you can keep track of how you spend your money. 
  • If your circumstances change, you can log back into Your budget and update your information.
If you have problems working using Your budget, contact us for advice.