Kick out your kids

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Budget calculator

When it comes to saving money, taking a good look at your monthly income and expenditure is a great place to start — parents may be surprised just where their money goes (and how expensive a grown-up child can be!). By using this budget form it's easier to identify where costs can be cut, to take you and your kids one step closer to buying their first home.

Try to be as honest as possible in your calculations, to reflect your 'typical' spending patterns. But don't fall into the trap of 'underestimating' how much things cost - particularly leisure costs. Some spending doesn't occur every month, such as holidays or Christmas, so calculate how much you pay per year and then divide the cost by 12.

You may also find it useful to get your grown-up children to complete a budget form to highlight where they can start to save money.

Please do not use commas or full stops.

 

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