Budget Calculator guide
Budget Calculator: Plan Your Monthly Budget
Use our budget calculator to plan your monthly spending on needs, wants and savings, and compare it with the 50/30/20 rule.
By the AllCalculator editorial teamUpdated 16 October 20261 min read
A budget shows where your money goes and helps you take control. Our Budget Calculator adds up your spending and compares it with a popular rule of thumb.
How to use the calculator (Budget Calculator)
- Enter your monthly take-home pay.
- List your needs, like rent, bills and food, as name and amount.
- List your wants, like eating out and subscriptions.
- List your savings and debt repayments.
The 50/30/20 rule
| Share | Spent on |
|---|---|
| 50% | Needs: housing, bills, food, transport |
| 30% | Wants: going out, hobbies, holidays |
| 20% | Savings and paying off debt |
It's a starting point. With high rents, needs often take more than half.
A worked example
With the calculator's default settings, a take-home pay of £2,400 with £1,525 on needs, £290 on wants and £400 on savings and debts leaves £185 a month spare.
Budgeting tips
- Check your bank statements to see what you really spend.
- Build an emergency fund of 3 to 6 months' essential costs.
- Review subscriptions and switch energy, broadband and insurance when deals end.
Frequently asked questions
Should I use take-home or gross pay?
Take-home pay, after tax, National Insurance and pension. See our Salary Calculator.
What if I'm over budget?
Look at wants first, then essential costs you can switch. If you're struggling with debt, free help is available from StepChange and Citizens Advice.
Sources and further reading
Links open official and independent websites in a new tab.
This guide is general information to help you understand your options. It isn't financial, tax, legal or building advice and doesn't take your personal circumstances into account. Figures were checked when the guide was last updated and can change, so confirm anything important with GOV.UK, HMRC, a regulated adviser or a qualified tradesperson.