5 budgeting tips you can start today

Top tips for budgeting:

1. Ease into the habit. Secrets out, budgeting is as crucial as your maths teacher warned. Start small and work your way up. Looking at your bank account and seeing where you may be overspending will help you become more aware of your money habits and ease you into more challenging aspects of managing your finances.
2. Make space for the things you love. Being more intentional with spending your hard-earned money sounds simple, but by separating your purchases into “wants” and “needs,” you'll see how your habits need to change for the better. Too many takeaway coffees? Another plant? You'll be surprised at how much all those little “wants” add up.
3. It's time to talk. You'd go to your friends for relationship advice or tell them about that person making your life hell at work. But sometimes, talking about money can feel embarrassing. It shouldn't be. Ask your friends and family how they save. Suggest a spend-free activity when things are a bit tight before payday. Tell them about your financial goals. They may have some good advice – or they'll at least make you feel a bit better.
4. Turn it into a challenge (the good kind). Let's face it: budgeting, sorting bills and making spreadsheets isn't most people's idea of fun. But, by breaking it down into simple challenges like saving £5 a week, you'll make it manageable – and you'll be surprised by how much it adds up to over the year. Get your friends to join you and keep each other accountable.
5. Cull your subscriptions. If it doesn't make your life easier or happier – cancel it. Whether it's the gym membership you haven't used for six months or the streaming service that didn't renew your favourite show, it's time to cut those useless subscriptions out of your life (and your bank balance). Kick them to the curb, and see how much that saves you throughout the year.