‘Stay on track’: Chartered accountant’s essential rules to keep on top of your budget

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The finance guru became a Chartered Accountant in 2021 and works full time in finance, so she knows a thing or two about money.

Now she advises Britons on how to tackle debt, take control of their money and make money via a side hustle.

She spoke with Express.co.uk about creating a budget and staying on top of that budget.

The expert says budgeting is key to taking control of your finances.

Beth said: “Creating your first budget may take time and it will be ever-evolving, but you must persevere with it and remain consistent – your hard work will definitely pay off!”

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Beth’s guide to creating your budget

Calculate your income

The expert said: “You’ll want to start with your income at the top, so think about your main employment, any side hustles you have etc.”

Analyse your expenses

“Next, move on to your expenses – what do your fixed and variable expenses look like?” Beth advises.

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Write down your goals

“And finally,” Beth said, “think about your goals.”

“Do you have any savings or investing goals that you’d like to factor in?

“Make sure to get comfortable with what is coming in and out of your account, honesty really is the best policy.

“This will help you readjust your budget each month if necessary and help you stay on track.”

Budgeting tips for your finances

Do the budget with your family

If you have a partner or children, bring them into your budgeting.

When everyone knows what the goal is, everyone can work towards it together.

Be flexible

Times are tough for most in the UK at the moment, and every month is different.

Bills are rising and so are prices. Make sure to make adjustments for this to protect your mental health. Don’t set unrealistic goals.

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Prioritise

Highlight the most important things to you, so that these can be allocated first in your budget.

Pay off debt

If you are in debt, the first priority should be to pay it off.

This will improve your credit score and set you up for a better financial future.

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