Welcome to Redeem the Commute. I’m Ryan, your host for the Money Course.

Here are some top tips on balanced budgets:

Top Tips for Balanced Budgets!


  • Work out a budget that works for you…helping you get in control!!
  • Work out (add up) all the income that comes into your home (salary, benefits, pensions, tax credit etc.)
  • Work out all the things that you spend money on:
    • Regular payments you make e.g. standing orders, direct debits
    • Weekly spending that you need to make
    • Don’t forget to add in what you need to ‘save’ for on a regular monthly basis to pay for things that come round less regularly e.g. Christmas, birthdays, car tax etc.
  • Add up your income and take away your expenditure. This will tell you if your budget balances.
  • If there is more coming in than going out – you can make some decisions about how you might want to use that money e.g. save for a particular item, have a holiday, give to charity, support a local cause etc.
  • If there is more going out than coming in – then you need to rethink so that you don’t find yourself in a debt situation that can’t be managed.
    • Make sure you are making the priority payments (see from a few days ago)
    • Look for ways to cut down, cut back or even cut out!!
    • Look for ways to add to your income? (e.g. take in a lodger, part-time work locally…)
  • Maintaining the budget – stay in control!!
  • Check your bank statements regularly to ensure that no changes have occurred to the payments that are being taken.
  • Keep a spending diary that will help you track what you are spending on and whether your budget needs adjusting.
  • Keep your money paperwork to hand in one place so that you can refer to it easily.


  • Try to use cash for your weekly spending – it helps you remember its value and gives you a choice over what you buy. Or if you use a card, use a tool like Mint to categorize every payment,.


Careful planning puts you ahead
in the long run;
hurry and scurry puts you further behind.

Proverbs 21:5 (MSG)


Question: Complete your budget this weekend.

10b.The Budget Tool – Electronic Version