One of the benefits of setting up a budget is that you can clearly see your essential and non-essential spending each month.
Essential expenses (like food and housing costs) are hard to trim. Non-essential expenses (like eating out, entertainment and hobby expenses) may be painful to cut out, but still possible.
Cutting back on even one small category (like a store bought coffee each day) can have a big long-term impact on your savings. To see how even a little savings can add up, we offer a Savings by Cutting Back calculator for your use.
Debt management also is very important. Learn more about debt management here.