Now let’s take a look at the other half of your budget: your regular spending. Start out with the costs that you really can’t do too much to bring down. We’re talking about your rent or mortgage repayments, Council Tax and other essentials like energy and water (although there are a few ways to help with those – see our guide, “6 Easy Ways to Save on Gas and Electric Bills” for more). Once you’ve got those sorted, move on to your other regular expenses, like transport costs (whether that’s petrol, public transport tickets or both), grocery bills and any medical costs you’ve got, like prescriptions or private health insurance payments.
Next up, give some thought into the spending you’re doing on a less regular basis. This is where you record the cash you spend on one-off emergencies, repair bills and so on. This kind of spending can be difficult to account for – but again, averaging the numbers based on what you’ve splashed out in previous years is a good start. For costs that crop up only once a year or so, feel free to divide them by 12 when you slot them into your monthly budget, to keep things nice and simple.
How to save money on your energy bills