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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

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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