Help with Budgeting

Using our virtual Envelopes we can help you budget and ensure you separate your essential monthly expenditure from your surplus income.

This will enable you to always ensure bills are paid and you know how much of your money can be spent on leisure. Once you set up your Envelopes they will help you manage your standing orders so you’ll never have to pay any more costly overdraft, “bounced” or unpaid referral fees.

ENVELOPE GUIDE

Everyone needs to budget

Everyone needs to budget. At Sprout Account we aim to help you build a strong financial future by offering a service that provides you with an account which has many benefits of a high street bank “current account” and a service which assists you when budgeting.

Creating a Monthly Budget

Download our simple monthly budget template, which will guide you through creating your budget.

Download file
budget

Creating a meaningful budget

  • Consider setting aside extra money in Sprout Account Envelopes for more expensive months of the year. (e.g. Christmas, birthdays, car MOT)
  • If the budget involves someone else, sit down together and plan.
  • Take time to create your budget plan and get it right. It’s important!
  • If you find you’re spending more than you earn, don’t panic. Have a good look at where your money is going. Do you really need to spend that much each month on food or clothes? Small changes can make a big difference.
  • Shop around for utility deals –  it’s easy to switch providers and there are often savings to be made.
  • If you don’t have enough funds to meet your financial commitments and maintain a basic standard of living, don’t bury your head in the sand – speak to someone. StepChange, Citizens’ Advice or the Money Advice Service offer free debt advice.

Money Advice Service – Tools & Resources

Energy
Ofgem regulates the energy markets in the UK and have an approved comparison checker to help energy consumers get the best deal.

Citizens’ Advice Bureau – Advice Guide
A telephone and online service offering information and help on legal, money or other matters

HM Revenue & Customs
Information on tax credits and most child-related benefits

Universal Jobmatch
Supporting people of working age during the process of welfare into work

State Pension
Providing information for pensioners or people planning their retirement

Phone, TV and Broadband
The UK Phone, TV and Broadband industries are regulated by Ofcom, who also provide an approved comparison checker that helps consumers choose the best deals.

Water
If you are thinking about switching to a water meter, use the Consumer Council for Water’s calculator to see if you might be able to save money.

If you are experiencing debt problems, make sure that you get help straight away. The websites below can help:

Aperture
Advice on Individual Voluntary Arrangements
www.apertureiva.com

StepChange
Free advice on problem debt, based on what’s best for you
www.stepchange.org

Citizens’ Advice Bureau
Provides free, confidential and impartial advice on legal, money and other problems
www.citizensadvice.org.uk

Advice UK
Advice on legal and social welfare problems
www.adviceuk.org.uk

National Debtline
A helpline that provides free, confidential and independent advice on how to deal with debt problems
www.nationaldebtline.org

Money Advice
Free, confidential and impartial money advice
www.moneyadviceservice.org.uk