Step 3 – Starting to budget

The next step in dealing with your debts is to work out what money you have available to pay off your outstanding debts. The best way to do this is by completing a personal budget.

Working out a personal budget is essential if you want to take control of your finances and get out of debt. It will give you a clear understanding of where your money comes from, where your money goes, and can help you to identify any changes you need to make to your spending habits to pay off your outstanding debts.

If your goal is to get out of debt, it is essential that your personal budget is realistic and accurately reflects your circumstances. You should stick to the hard facts and not make any guesses when completing your budget. Wherever possible, refer to your paperwork and make sure that you record your figures in pounds and pence.

Using our online budget sheet

Over the next few pages, you will be given instructions on how to complete your online budget sheet.

Don’t worry! There are no hard sums to be done, as our budget sheet does all of the hard work for you. All you need to do is follow the on-screen instructions, and enter the relevant information in the spaces provided. You can use the following link to activate the budget sheet in a separate window:

Please click here to activate the online budget sheet

Once you have activated the online budget sheet, you can start entering your personal details. In order to carry on using this site, simply minimise the budget sheet and carry on moving around this site. Please make sure that you do not close the window until you have finished, or any progress you have made will be lost. Also, be sure to print each page as you complete it, or again, any progress that you have made will be lost.

Before you move on to the next step, try activating the online budget sheet and have a play around with it to make sure that you are comfortable with how it works. Once you have are happy, minimise the window, and click on the following link:

Please click here to continue