Budget Calculator
Create and track your personal or household budget with comprehensive tools
Budget Builder
💼 Income
£0
Salary/Wages
🏠 Fixed Expenses
£0
Rent/Mortgage
Utilities
🛒 Variable Expenses
£0
Groceries
Entertainment
💎 Savings & Investments
£0
Emergency Fund
Budget Summary
Enter your budget details
See your financial overview
Budget Tips
Smart Budgeting Guidelines
50/30/20 Rule
50% needs, 30% wants, 20% savings and debt repayment
Emergency Fund
Save 3-6 months of expenses for unexpected situations
Track Everything
Monitor all expenses to identify spending patterns
Review Monthly
Adjust your budget based on actual spending
Budget Planning Guide
Budget Categories
- Income: Salary, freelance, benefits, investments
- Fixed Expenses: Rent, insurance, loans, subscriptions
- Variable Expenses: Food, transport, entertainment, shopping
- Savings: Emergency fund, retirement, investments
- Debt Payments: Credit cards, loans, mortgages
Budgeting Methods
- 50/30/20 Rule: Simple percentage-based approach
- Zero-Based Budget: Every pound has a purpose
- Envelope Method: Cash allocation by category
- Pay Yourself First: Savings before expenses
- Priority-Based: Essential needs first approach
Expense Tracking
- Daily Tracking: Record every transaction
- Weekly Review: Check spending patterns
- Monthly Analysis: Compare budget vs actual
- Annual Planning: Set long-term financial goals
Common Budget Mistakes
- Unrealistic Goals: Setting budgets too strict to follow
- Forgetting Irregular Expenses: Annual fees, holidays
- No Emergency Buffer: Not planning for unexpected costs
- Ignoring Small Expenses: Coffee, subscriptions add up
- Not Reviewing: Failing to adjust budget regularly
Money-Saving Tips
- Meal Planning: Reduce food waste and costs
- Compare Prices: Shop around for better deals
- Cancel Unused Services: Review subscriptions regularly
- Use Cashback: Credit cards and loyalty programs
- Buy Generic: Store brands vs name brands
Building Wealth
- Automate Savings: Set up automatic transfers
- Increase Income: Side hustles, skills development
- Invest Wisely: ISAs, pensions, index funds
- Reduce Debt: Pay off high-interest debt first
- Long-term Thinking: Compound interest advantage
Budget Adjustments
- Life Changes: Job, family, housing changes
- Seasonal Variations: Holiday spending, heating costs
- Income Changes: Raises, bonuses, job loss
- Goal Updates: New savings targets or priorities