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What am I spending my money on?

How much do you think you spend on each item below?

Now what do you really spend?
Revise your list by checking your bills. For more information on how to start a record of your spending you could also see Keeping track of records - home book keeping.

Taking care of the pennies - small items
When we work out how much we spend it's often the little things that we ignore.

Make a list of all of the little things that you spend your money on.

You can use the list below to give you an idea of things that you may spend money on.

Example cost in pounds
From this list you can see how easily you can spend more than you think you do.

Some of the things in the list you may buy more than once a week. Then the pennies really start adding up.

This is just a guide – everyone spends money differently. Try making a note of what you buy and how much it costs. If you can, do this for a few weeks. That way you won't forget the pennies.



Taking care of the pounds - large items
Sometimes when we are working out how we spend our money we ignore things that cost a lot because we don't spend money on them every week.

Make a list of the big things that you spend money on. You can use the example shown below to give you an idea.


If you don't have much money it may be best to put a little bit of money aside so you can afford these things when you need them.

To work out how much to put aside divide the yearly amount by 52. The year has 52 weeks, so if you divide the amount by 52 you will find out how much you should put aside weekly.


Car costs
£520.00 divided by 52 = £10.00

In this example a good amount to put aside for car costs would be £10 a week, possibly even a little more if you can afford it to cover unexpected repairs.

£260.00 divided by 52 = £5.00

In this example a good amount to put aside for clothing would be £5 a week.

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