Budgeting:  How to make it simple

In order to have an effective budgeting system, you need to make it easy to follow and implement. 

We recommend not having too many bank accounts - it over complicates the budgeting system. 

You only need 3 bank accounts:

• A day-to-day bank account;
• A bills account; and
• A special purpose account (i.e. holidays).

All income should be received into the day-to-day bank account and then distributed to the bills and speical purpose bank accounts.

Note:  For any budget to be effective you should first complete a detailed budget and we have one all ready for you - check it out here.

Please do not hesitate to contact us if you have any queries.