If you feel that you are losing control of your finances a little, it is a good idea to take steps to ensure that you take back the reins as soon as you can. In today's post-recession climate, intelligent money management is the watchword when it comes to overseeing your funds.

In order to ensure you don't take on more debt than you can handle and end up signing up for an equity release scheme, you will need to draw up a sensible budget for yourself. A firm grasp of where you are spending your money and in what quantity is necessary before you can really begin to improve your situation.

To start with, calculate your total monthly income after tax. Write this figure at the top of the page; you will then systematically subtract your expenditure bit by bit. Begin with large monthly costs and debit orders that come off your accounts immediately. Tally these up and minus them from your income.

You should now be left with a smaller figure; the remains of your income after large expenses have been eliminated. From this new number, carefully subtract the amounts you spend on running a household, petrol, groceries and other day-to-day costs.

Once you have done this, there should be a small amount remaining. This left over balance should be directed towards a savings scheme and towards luxuries. Once you have detailed your budget in this way, it should become clear where you need to cut back on your expenditure. From here, you can begin to make positive changes to your finances.