How to budget?

shappers82

worriedindebt wrote: »

I find having a bills account and a spending account helpful. I work out what I need to put in bills acc each month and leave it there so when I go to ATM I know that what's in the spending acc (or not as is of then the case!) is mine.

Completely agree with this. My main bank account is where my bills come out monthly, along with my salary going in. I have a basic bank account for my spending.
If you can work out what your monthly bills amount to, make sure you have enough left in that account each month and transfer over the difference, or a nominated amount on the 1st (or whatever day) of the month.
May just take a month or two to get this going - you will need to build up a balance in the account - but once done, you will feel so much more in control of your finances.

If you decide to go down the route of paying bills annually, remember to make sure you put aside an amount roughly equal to the monthly amount (perhaps in a savings account to get a little bit of interest) so that you don't have to scratch around for the cash come next renewal.

Good luck!