Have you ever looked at your bank balance halfway through the month and thought “Where did it all go?”
Well, you're not alone.
Budgeting in your 20s can feel impossible: bills, social plans, rent (if you’re paying it), and the temptation of online shopping all add up. But with the right approach, you can make your money last the month without feeling like you’re missing out.
According to the Money and Pensions Service, nearly half of young adults don’t feel confident about money management. That lack of confidence often means debt builds up early through overdrafts, credit cards, or Buy Now Pay Later.
A budget doesn’t have to be boring. It just gives you a plan so you know what’s safe to spend and what’s already spoken for.
Three steps to start budgeting
- Write down your income – wages, benefits, side hustle money, anything coming in.
- List your spending – rent, food, travel, subscriptions, nights out.
- Compare and adjust – if outgoings are higher than income, something has to change.
Tip: use the 50/30/20 rule as a starting point:
- 50% essentials (rent, food, travel)
- 30% wants (fun, social, hobbies)
- 20% debts/savings
When budgeting isn’t enough
Sometimes the maths just doesn’t work. If bills and debts are higher than income, it’s not your fault. That’s where getting advice can help.
