- Clarify your net income
Your net income is your salary or earnings minus any tax deductions, pension contributions, or student loan repayments. - Assess your monthly expenses
List your fixed expenses, which are costs that are unlikely to change. You can then deduct them from your net income. Next, look at your variable expenses, which are those that change depending on your activity. - Set your savings goals
You can now set your savings goals as they relate to your long-term financial objectives. It can be a good idea to adjust your goals as your circumstances and priorities change. - Plan your spending
Review how much you’ve overspent in recent months and see what areas you could trim. - Once you’ve designed your budget, it’s important to regularly review it to ensure it’s realistic and that you stay on track to achieve your goals.
- Speak to a financial planner
A financial planner can help you design and impelemt a budgget that ensures you achieve your ambitions while enjoyingg the journey toward them.
To speak to a financial planner, get in touch with Perennial Wealth via:
Telephone: 01179596499
Email: info@perennialwealth.co.uk
Address: Trym Lodge, 1 Henbury Road, Bristol, BSB9 3HQ
