Today is Budget day, when we learn how the Chancellor's decisions will affect the money in our pockets. MoneySupermarket.com has come up with an alternative budget that reflects how families are making their own austerity measures.
The 'Real Budget Report' gives an insight into how people have coped with falling real incomes and austerity measures. According to the report, many families made their own cutbacks over the last 12 months, in areas like food (80%), heating (62%) and transport (38%) - and adopted money-saving techniques like using money-off coupons (62%) and price comparison websites (46%).
The report suggests that the majority of people are actively cutting back on luxuries to make ends meet. However, nearly one in five say they don't really know how to plan their finances properly and say their budgeting can be a little chaotic.
Do you know how much money you really have available to spend every week? Do you struggle to get to the next paycheque because you have overspent earlier in the week or month? If so, you might need a bit of help with your budgeting.
You can find out about how the Personal Account from thinkmoney helps you to budget here. You pay no hidden fees or charges - just £14.50 monthly (£21.25 for a joint account).