A deficit budget means that you are spending more money than you earn each month and therefore cannot pay all your bills. You need to look at reducing your spending or increasing your income. If you have a deficit budget you need to deal with the situation as soon as possible. Please use our online debt counselling service, CCCS Debt Remedy, or call our helpline.

A budget surplus means that you have enough money to cover all your bills each month. There may still be ways to improve your situation by increasing your income or reducing your spending. You should think about what your long term financial goals are and consider starting to plan for these. You may benefit from visiting our free online service which helps you with financial planning for the future, CCCS Money Matters.

Some costs only happen occasionally, for example holidays or car repairs but these still need to be included in your budget. Work out how much you spent over the last year in these areas and then divide this amount by 12. This will tell you how much money you need to save up each month to always be able to pay for these expenses.