Business Debtline

England and Wales > Your Budget > Household Budget > Why Create a Household Budget?

Why Create a Household Budget?

Subsections : Business Budget |Household Budget |Interactive Budget Sheet |Cashflow Forecast |

Working out a household budget will help you to:

see how much money is coming in to the household, and help you work out if you can increase your income;
see how much money is going out on essential living costs;
see if you can reduce the salary you are drawing from the company in order to keep it solvent and increase its ability to pay creditors;
work out how much you have to pay your creditors and the courts;
plan your future spending on the business and your home.

This section will help you to collect the facts you need to fill the budget sheet in completely and accurately.

As you work through each section you will be able to print off and complete the household section of the budget sheet. You can then use this to send to your creditors.

If you are a director of a limited company, then you should keep the business budget separate from your household budget.

Step-by-step Guide
Interactive Budget Sheet
Sample Letters
Fact Sheets
Contact Us
Site Map