![]() Multiply a weekly rent by 4.33 to arrive at the figure you’ll need to include in your monthly budget.Įnergy costs can be difficult to calculate as they vary over the months, so the best way to approach this is to work out how much you’ve spent on energy in the past year. Here’s what you’ll need to include in your budget: For those entering into a trust deed, these are the maximum limits allowed per category if you are not in a trust deed then you are obviously not bound by these limits, although it may be useful to use these as a rough indication of what you should be spending in each category. We have also included the amounts set by Insolvency Practitioners/Trustees when creating a budget for trust deed clients. ![]() The first step in making a budget is to collect together all your household bills for the past year, as well as bank statements and receipts for your living expenses. So let us help you build a budget that keeps you in control, ensures sure you have enough money for life’s essentials, and prevents you sliding into further debt. It is only by knowing where your money is going every month that you can highlight areas where savings can be made.Īlthough creating a budget takes a little time and effort, once done it will make your finances much easier to manage, and can literally transform your outlook on life during this stressful time. In fact devising a workable budget is a useful exercise for anyone whether they are dealing with debt or not. ![]() If you’ve entered into a Scottish trust deed or any other personal insolvency procedure, and are worried about how you’re going to manage the bills, making a budget is one of the most important steps to take.
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