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Managing your Household Budget | South Lakes Housing

Managing your Household Budget

Before you take on a property you need to be sure that not only are you able to afford it at the start of the tenancy, but that you can sustain it for the long term. At South Lakes Housing we are keen to make sure that not only do you understand what you are taking on when you sign for a property, but that you fully appreciate the cost of doing so. We encourage you to budget, but we also expect that you will take immediate advice if you get into difficulties.

Some of the costs you will need to consider are:

  • Rent
  • Council Tax
  • Utility bills – gas, electric
  • Water bills
  • Insurance
  • TV licence
  • Food & Household goods
  • Transport Costs
  • Child care costs
  • Clothing / Shoes
  • TV Licence
  • Sat TV / Broadband
  • Telephone/Mobile
  • Prescriptions
  • Pets
  • Socialising
  • Furniture, appliances and other household items
  • Decoration
  • Gardening

There is a lot to think about and therefore it should be clear why it is important to understand your finances. You should consider a household budget in order to;

  • Take control of your money;
  • Understand where your money goes and where you could make changes so as to make your money go further
  • Avoid your debt getting out of control

There is plenty of information and advice available to you and therefore we urge you to take advantage of it