Building a Budget

Do you have something you want to save for? Or maybe just want to be a bit more responsible with your money?

Then budgeting is for you!

Plan

How much money do you have?

What are you saving for?

What tools exist to help you budget?

Is is a Short, Medium or Long term savings goal?

For Venturer Scouts and Rover Scouts

What other expenses do you need to budget for? (e.g. rent, bills, food, etc.)

What contingencies do you need to consider?

Are there any products at a bank that might help you save for the long term? (e.g high interest savings account or term deposits)

Do

Choose a period you want to budget for - a month, a year, longer?

Work out how you are going to track your budget.

Review

Did you reach your savings goal?

What did you discover about your spending habits?

What is your next savings goal?

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