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My Trivallis
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Budgeting basics

Life is full of surprises, and managing your money wisely is the key to financial stability and peace of mind. Follow these simple tips to take control of your finances.

Trivallis Housing Landlord Wales Two men engaged in a conversation about housing while sitting at a table with a mug and some papers between them for the Trivallis RCT project.

Jump to

The basics of budgeting Essential expenses Saving goals Review and adjust Ready to take control?

alert icon Finding it tough to pay your rent or bills?

You can talk to a member of our Money Advice team during office hours on 01443 494560.

The basics of budgeting

Creating a budget is like giving your money a job. It helps you allocate funds to different areas of your life, ensuring that you can meet your needs and plan for the future.

1. Know your income

List all your sources of income, including wages, benefits, or any additional support.

2. Track your expenses

Keep a record of your spending for a month. This will help you identify where your money is going.

Essential expenses

Now, let’s focus on the must haves – the essential expenses that keep your life running smoothly.

3. Prioritise your needs

Identify essential expenses like rent, utilities, groceries, and transport. 
These are non-negotiable and should 
be prioritised.

4. Set realistic amounts

Decide how much money to spend on different things, making sure it fits with how much money you have, and keeps some spare in case of emergencies.

Saving goals

Saving money is like planting seeds for a secure future. Let’s look at how to add savings into your budget.

5. Start small

Begin by setting aside a small amount 
for savings each month. As your money situation improves, you can increase this amount.

6. Emergency fund

Aim to build an emergency fund that covers at least three months’ worth of living expenses. This fund acts as a safety net during unexpected situations.

Your money, your plan

Remember, your budget is personal. Tailor it to fit your needs, and don't be afraid to adjust as circumstances change.

Review and adjust

A budget is not a ‘set it and forget it’ tool. Regularly reviewing and adjusting it will keep you on the path to financial success.

7. Monthly check-ins

Check your budget every month to see how you’re doing. Celebrate successes and make changes where needed.

8. Adapt to changes

Life is dynamic, and so should be your budget. Be ready to adapt to changes in income, expenses, or savings goals.

Ready to take control?

Are you ready to take control of your finances?

Start by creating a budget today! Download our simple budget template and begin your journey towards financial freedom.

By following these tips, you’re not just budgeting; you’re making a roadmap to financial wellbeing. Take charge of your money, and let it work for you.

Download budgeting template

Download
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Speak to our Money Advice team

Our money advisors are available Monday-Friday during office hours.

My Trivallis 01443 494560

Related pages

Trivallis Housing Landlord Wales A smiling man with facial hair sits at a desk in a busy office environment, wearing a gray t-shirt and a lanyard. he seems relaxed, looking directly at the camera with office colleagues blurred in the background. He is a money advice officer who can help with money.

Fy Arian - My Money

Talking to a money advice officer

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