Keeping on top of your income and expenditure is key to staying out of financial difficulty.
When we created this site, we really wanted to take the time to look at every aspect of a person’s journey that could lead them to financial issue. One of the key areas which might sound really obvious but is overlooked by almost everyone we have found with serious debt issues, is income and expenditure.
That’s right, simply knowing what you have coming in and going out is often overlooked but plays a big part in your financial situation.
How much did you spend last month?
Right now, this second do you know exactly how much you spent last month to the penny? When we ask this question to people regardless of their financial situation, 99 times out of 100 we get the “umm, ahh, well I think it’s around this figure” we rarely receive a clear answer. How can it be possible to manage your finances correctly when you don’t even know what you are spending?
Trust the process
You will notice we always prompt you to use our budget planner because going through that process is the only true way you will know what financial state you are in. As a minimum you should be reviewing your spending every three months to make sure you stay in the green and are not moving into the red.
Budget planner.
Do you know how much you have left at the end of each month? Do you need to send an income and expenditure to a creditor? We've got you covered. Our budget planner provides you with a simple and free way to view and track your spending.
If you need to fill in a creditor income and expenditure
We also noticed that as part of addressing financial difficulty, you may be prompted to fill out a creditor income and expenditure form. We get that some of you may feel uncomfortable filling it out the creditor or debt collector income and expenditure as you may think it is designed to benefit them more than you. You are right to question whether you should fill it out or not, we have explained when we believe you should and also when you may wish not to. Check out the article below in the purple box for more on that.
We got you
Here’s the good news! TRDG has your back as always, our budget planner is designed for you to be able to use as your income and expenditure for your creditors. You can take your time to fill it in, download and email it to your creditor or print and post it. We never encourage you to complete an income and expenditure over the phone with a creditor, always fill one in your own time without pressure.
So what are you waiting for?
Head over to the budget planner by clicking below.
