Household budgets 'important'
It is important that Britons create and stick to a household budget in order to take better control of their finances, it has been advised.
Jasmine Birtles, founder of Moneymagpie.com, said: "The thing is, [a budget] doesn't have to be the total law, but at least if they have an idea of firstly how much money is coming into the household each month and secondly [what] they have to spend on essentials like rent, utilities, phone, food."
By taking one of these away from the total incomings, people sharing a home could find they have a rough but better idea of their financial status, she added, which could prove useful to tenants sharing the rent.
A budget could also show how much expendable income is left over at the end of every month to be put towards clothes or entertainment.
Britons looking for flats to rent in Notting Hill or another part of London may find the advice useful if they are planning to share their new home with others.
Research by the Financial Services Authority recently found that 14 per cent of Britons do not keep track of their spending habits at all.
Written by Ben Carter
Published 23rd December, 2009
© 2009 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Streatham town centre to be improved by BID?
Major improvements could be made to Streatham town centre thanks to a new business partnership.
Read Article ... Published on 25th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Households can better manage their finances if they take the time to formulate a budget, one sector commentator has claimed - in news which may prove useful to people renting a home together.