Planning your personal budget

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Planning your personal budget

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This module will help learners identify their sources of income and understand how to create a budget which tracks their income and expenditure.

At the end of the module learners will be able to:

  • Identify their sources of income
  • Understand how to create a budget that tracks income and expenditure

Virtual training session and top tips:

LifeSkills has partnered with education charity Business in the Community to deliver virtual training sessions that can be watched at home. The video below provides an interactive virtual delivery of the planning your personal budget module. This is also available here for you to share directly with the adult learners you are supporting.

You or your learners may also find the following links useful to support conversations about budgeting.

Our editable budget planner helps plan regular and one-off expenditure on a weekly, monthly or yearly basis and also contains a spending diary to help identify spending patterns.

entitledto gives guidance on benefits that you may be entitled to

Citizens Advice provide an online budget tool and guidance on where to get help with paying bills

Step Change offer templates and tips on making budgeting easier

The Money Advice Service offers an online budget planner, as well as additional guidance on planning your finances and cutting costs

Other modules in Understanding and managing money

Taking control of your income
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Taking control of your income

This module will help learners to understand their income, including from work and other sources such as benefits, and understand the main features of a payslip.

Understanding bank accounts and your statements
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This module helps learners to learn about different types of bank accounts, how to open an account and understand their bank statements.

Explaining the importance of insurance
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This module will introduce learners to the concept of insurance, and why it is an important part of financial stability and independence.