How to Budget Effectively

Each week we're going to just have some links of places you can go for more information, resources that you can use. So firstly, the budgeting page in the UK Personal Finance Wiki is great. There's links on that page to all kinds of tools, information about things like the average amounts for living costs which are helpful if you're not used to doing this. When it comes to budgeting, I've used YNAB for ages. It stands for you need a budget. It uses what's called the envelope system, which is basically you decide what is spent in what category and then it helps you track it as you go along.