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► Budget Planner
Here you can download your own copy of the interactive Budget Planner designed to help you better manage your finances. It allows you to easily track what’s going out, what’s coming in and everything in between.
It will also allow you see if you spend more than you earn and also how much you have spare to spend. If your results don’t come out as good as you’d hoped then there are links you can follow that will take you to various places that may be able to help…
It was designed with students in mind. It can be done weekly, monthly or even annually – whichever you find easiest.
To download the Budget Planner click here (You will need Microsoft Excel.)
The Budget Planner is very simple to use. Enter details into the appropriate columns and it will automatically calculate the totals and populate the pie charts and tables.
Tips for using the Budget Planner
Consistency and accuracy are important
Best to be consistent and accurate in order to get the best results. Try not to just 'guess' amounts – this won’t give you reliable answers! Try to get everything you need together before filling out the budget planner, such as bills, pay slips, receipts etc
Ensure you put things in the right columns
If you get paid monthly but spend weekly, fill out the columns that reflect this to get the most accurate results. You can’t enter amounts into more than one column per item (i.e. weekly AND monthly). If you do a big monthly shop alongside lots of little ones, work out how much this is monthly and adjust the amount you need to enter in the column accordingly.
Overestimating vs. Underestimating
It’s better to overestimate than underestimate…don’t fool yourself. Be as honest as you can to avoid confusion and disappointment. If you’re simply not sure of exact amounts, guess higher rather than lower – this way you might be left with extra cash when the bills come out!
Don’t count things twice
Some of the spending categories may overlap so be careful not to fill them out twice, or you won’t get accurate results.
Use the extra columns provided
At the end of each section there are some gaps for you to add anything extra that you can think of into the equation. Use and change these as and when required.
Check, check and check again!
One small mistake can throw the whole budget off course and lead to inaccurate results. The best way to avoid this is to double (and sometimes triple) check everything!
