Young Wrexham

Budgeting

This section looks at how you can budget and have more control over your own money.

• A budget is simply a record or plan of how much money you have coming in (your income) and how much money you are spending or expecting to spend (your out-goings)
• Why budget? Budgeting helps you make sure you don't spend more than you can afford, it makes sure you don’t lose track of your money or simply waste it, and it helps you plan for the important and fun things in life
• You might find you need to create a short-term budget, for example, if you are saving up for something or want to make sure you can cover your everyday costs, or, a more long-term budget, for example, if you are taking out a loan