Plan your budget

Everyone can plan their monthly budget according to their lifestyle.

You can also draw up an effective budget plan, which is as realistic as possible and which includes known incomes and expenses for the month.

 Categorize your expenses

  • Include your monthly earnings, e.g. salary, rents, etc.
  • Include the necessary living expenses (mandatory, daily and occasional expenses).
  • Calculate how much money you have left after paying all your bills (telephone, electricity, water) and your loan installments.

 Mandatory expenses

Mandatory expenses are the monthly installments you are required to pay for:

  • Your loans
  • Other necessary expenses, e.g. electricity, water and telephone bills
  • Income tax, refuse tax, tax to practice a profession and contributions to the Social Insurance Fund
  • Insurance premiums e.g. home insurance, car insurance, life insurance, medical insurance, etc
  • Road tax
  • Tuition fees for your children’s schools etc.

 Some of the expenses are payable every two months or once a year.

 Everyday expenses

In your everyday expenses list you can include what you spend during the entire month (e.g. supermarket, petrol, other small daily purchases). Keep notes in a calendar by writing down the expenses for the month.

 Occasional expenses

These expenses have an impact on your budget. Include what you spend, e.g. for Christmas or birthday gifts, children’s parties, holidays, shopping for clothes, etc.

 The goal of improving your budget

Do you really want to improve your budget? Set a goal for improvement.

 For example, consider what amount you will be saving from your mandatory, daily or occasional expenses.

You can discuss the possibility of opening a savings account with your personal banker.

 We can recommend various savings accounts depending on your needs.

 

 

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