Budget Calculator
Plan your monthly household budget using the 50/30/20 style breakdown of essentials, wants, savings and debt.
Rent or mortgage, council tax, utilities, groceries, transport.
Eating out, subscriptions, holidays, non-essential shopping.
Cash savings, ISAs, investments, pension top-ups.
Credit cards, loans, overdraft above minimum payments.
How to plan a monthly budget
A simple rule-of-thumb budget is the 50/30/20 rule: around 50% of take-home pay on essentials, 30% on wants, and 20% on savings and debt repayments. This calculator lets you see how your numbers compare.
Enter your monthly income and how much you currently spend in each category. Use the leftover figure and savings rate to decide whether you need to reduce spending or increase savings to hit your financial goals.
Example budget
With £2,800 take-home income, you might allocate £1,600 to essentials (57%), £400 to wants (14%), £500 to savings (18%) and £200 to extra debt repayments (7%). This leaves £100 unallocated that you can keep as a buffer.
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<p>Calculator: <a href="https://onlinecalculator.co.uk/finance/budget-calculator" target="_blank">Budget Calculator</a> - OnlineCalculator.co.uk</p>APA Style Citation:
OnlineCalculator.co.uk. (2025). Budget Calculator. Retrieved from https://onlinecalculator.co.uk/finance/budget-calculatorNote: This calculator is free to use and reference. No permission required for educational or commercial citation.