Budget Calculator - 10 mins

It can be hard to keep track of your money week-to-week and month-to-month. The introduction of Universal Credit will mean any payments you receive will be made monthly, meaning you will have to manage your money monthly.

Our budget calculator will help you to see if your incomings are greater than your outgoings and if not where you can go to get some help. Simply work through the fields in each section and the last page will give you an outcome with some advice.

Your income

Your income is any money you receive from work, benefits or even your family

Wage after tax including partner/spouse wage and any self-employment

Benefits housing benefit, JSA, universal credit, working tax credits

Child benefit

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Add another type of income
= £0.00

Household bills

These are things you need to survive, we will cover things like internet and TV next.

Rent / mortgage

Council tax Most of our properties are Band A or B

Gas

Electricity

Water

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Add another type of household bill
= £0.00

Other bills

Other bills are mostly regular payments, maybe yearly, monthly or weekly.

House insurance

Car insurance

TV / internet include TV licence and subscriptions like Netflix

Phones include mobile and landline contracts

Gym membership include sports/exercise club fees

Childcare / child maintenance include nursery/after school clubs/babysitter

Petrol and car maintenance

Travel fees include car parking, bus/train tickets/railcards/taxis

Other fees include medical, pet insurance and pensions

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Add another type of bill
= £0.00

Loans and credit

This is any money that you have to pay to a company or person, for a loan, product or service.

Loans, lease and hire purchase

Credit, store card and catalogue shopping

Any other debts

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Add another type of loan and credit
= £0.00

Shopping and entertainment

This is any money you spend on yourself or your family

Grocery shopping include food and other household items

Cigarettes, tobacco, alcohol

Takeaways and eating out include lunch time food

Clothing and footwear include any family

Haircuts, personal grooming and beauty products

Children's activities include sports clubs/music lessons

Betting include football, bingo, lottery etc

Any other entertainment include hobbies, social clubs, games, newspapers, music etc

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Add another type of shopping and recreation
= £0.00

Alert! Your outgoings are more than your incomings.

You have very little money left over after your outgoings have been taken out.

Is this enough money left over to cover any other outgoings?

You’re doing well, but could you make even more changes to your outgoings?

Your budget

You should take action now to get your finances in order. Below are some of the options you could take:

If the costs of your household bills or other financial commitments increase, you could be in trouble. Take action now to get your finances in order. Below are some of the options you could take:

Would you be prepared if the cost of your household bills or other financial commitments unexpectedly increased?. Below are some of the options you could take:

Click here for tips and advice on how to save money and make savings on your everyday living expenses. Below are some of the options you could take:

Total monthly income £0.00
Total monthly spending £0.00
Money you're left with £0.00

Your outgoings breakdown

Don't forget, if you have entered estimated figures for any bills, then any increases in these outgoings will reduce the amount of money you have available at the end of each month.