Meet Raj

Raj is 22. He has a good job but all his money is accounted for every week, therefore he has no money left over and no savings.

He has a 3-year loan which he used to buy an imported car for £9,000 but parts are expensive, and so is the insurance. The car has stopped working and he has not budgeted for repairs. He needs his car to get to work but it will cost £1,200 to repair. He has no savings to dip into and no-one in his family has money to help him.

He has 3 credit cards but he already owes £4,000 on them from buying gadgets and furniture for his posh new flat. He is thinking of putting the car repair bill on his credit card.

What should he do?

Start by printing out a blank budget form (print) and assignment sheet (print)

Then explore his income and spending, copying the figures onto your blank budget form

When you have finished, you will be ready to balance his budget