Budgeting isn’t just about spreadsheets and sacrifice—it’s about empowerment, clarity, and control. Whether you're trying to break the pay-day-to-pay-day cycle or planning for a major life event, a budget is your financial foundation. Here are ten powerful reasons to start budgeting today—and how our Budget Pro app can help you every step of the way.
If you often find yourself counting down the days until payday, you’re not alone. Budgeting helps you plan ahead so you’re not caught off guard by mid-month expenses or the emergencies which catch us all out at times. Budget Pro allows you to visualise the months ahead so you can effectively plan and be prepared for surprises.
Saving money isn’t just about discipline – it’s about making it automatic and visible. A budget helps you to prioritise saving, even in small amounts and to set goals so you can track your progress over time. Budget Pro includes a saving calculator so you can work out how long it will take you to reach your saving goals.
Whether you’re leaving home or starting university or perhaps starting your first job, budgeting is a key life skill and helps build your confidence in managing your own money.
Weddings are magical – but they can also be financially overwhelming. So if you’re planning to tie the knot and have special plans for your big day, now might be the time to put a budget in place. This will help you to stay in control, avoid overspending and focus on what truly matters.
According to hitched.co.uk, the average cost of a UK wedding in 2023 was £20,700. So whatever your plans are, we've put together some top tips for creating a wedding budget and keeping your wedding spending under control.
Planning to buy a house and apply for a mortgage is another reason to start budgeting. Lenders want to see that you can manage your money responsibly. Tracking your finances will help you to evidence your income and outgoings to your mortgage advisor. A well-thought out budget helps you to demonstrate financial stability, improve your credit profile and understand how mortgage repayments will impact your current lifestyle. Remember, if you’re thinking about applying for a mortgage, avoid new credit applications for a year before you apply as this helps to keep your credit score stable.
From nappies to nursery fees, children bring joy – and expenses. Your financial situation will inevitably change as your family grows but putting a budgeting plan in place will help you to manage any extra costs. Budget Pro can help you track childcare costs and set up recurring expenses each month.
Since starting a family in 2013, we’ve been tracking the costs of raising our boys – visit https://www.costs-to-expect.com/ for our take on the costs of raising a child in the UK.
Christmas, Eid, birthdays and back-to-school expenses can all wreak havoc with your finances if you’re not prepared. Budgeting helps you to spread the cost and avoid last-minute debt. It’s a good idea to create a “sinking fund” for annual events – you’ll be amazed how quickly small, monthly contributions add up! With Budget Pro, you can add monthly, quarterly or annual recurring expenses so that nothing gets forgotten and you can manage festive spending effectively.
Impulse spending can quickly derail your financial goals. Creating a budget helps you to be more mindful of your spending habits and make intentional choices. If impulse buying is your bad habit, try the 24 hour rule before making non-essential purchases. Also remove saved cards from online shops to help reduce temptation. This pause for thought helps to curb impulse spending and helps keep your budget intact.
Unexpected expenses – like car repairs, medical costs or even job loss can have a devastating impact if you don’t have a financial cushion. Life is full of surprises and having a budget can help you to be prepared for life’s curve balls, which otherwise might leave you panicking. So whether it’s an appliance which needs to be replaced, the car needing repairs or even a divorce, having a budget can help prepare you for the unexpected events that creep up on us all.
Budgeting gives you a clear plan to avoid debt – or tackle it head-on. By tracking your income and expenses, you can start prioritising repayments and avoid future borrowing. Make sure your debt repayments are automatic on pay-day so that they are always a priority within your budget.
Whatever your reason for wanting to start a budget, Costs to Expect have a Free Budget App that can help you get started or you can make use of our 30 day free trial of Budget Pro