Assessing your expenses
Assess and write down all your household expenses. Use bank statements and bills to help you and collect receipts or write down your purchases as you make them. If you no longer have all records of expenses, think through the expenses you have and the size of the bills coming in.
Most bills come regularly on a monthly basis. Some, however, come less frequently. For example, your electricity bill may come every two or three months. Sometimes the due date of a bill comes around surprisingly fast.
Some expenses you have to commit to for a long period of time. Such regular expenses include rent and other housing-related charges (such as maintenance charges), electricity, commuting costs, insurance, child daycare, loans and hire purchase payments. These expenses are generally for the same amount each time and in the short term there is little you can do about them.
Besides this, money regularly goes on food, clothing, mobility and hobbies. However, there is some leeway with these expenses. If your finances are tight and you have to save somewhere, these are the expenses that are the easiest to impact yourself.