Budget

How to compile a personal budget?

A family budget provides a good overview of your incomes and expenses and helps keep costs under control. Is anything left over or do you spend more than you earn? Could you save something or is making ends meet a struggle? Knowing what you spend your money on makes it easier to find ways to save.

Budgeting helps you determine:

  • Your family’s incomes and expenses
  • What money is spent on and how much money is spent
  • What you could save money on

Compiling a family budget

Family budgets should be prepared at least each month as you generally get paid (salary, benefits, scholarships, etc.) once a month and fixed costs (utility, loan and leasing payments, service invoices, etc.) must also be paid once a month.

Families earning one-off or irregular income should prepare their budgets for each quarter, half-year or even a year or two. This allows you to document main known monthly incomes (tax refund, bonus) and expenses (birthdays and anniversaries of family members, vacations) and consider them in making any decisions.

To prepare a family budget, you can use:

Financial Planner

We have developed the online Financial Planner environment, allowing you to get a quick overview of your finances, compile budgets, set goals and take control of your expenses to make better use of your money.

The Financial Planner automatically extracts the right data from your bank statement and divides it into expense and income groups. This gives you a good overview of your transactions by selected periods as well as how much and what you spend your money on. You can also set a limit for each expense group which you should not exceed. This makes adhering to your budget more convenient. Adjusting your preferences only takes a few moments and later everything is done automatically.

Start using the Financial Planner

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