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Household Bills & Lifestyle2 min check
Household Budget Planner
Step 1 of 40%
How it works
We total your inputs into needs, wants and savings, then compare to 50/30/20 of your take-home income. Spare cash = income − every category total.
Worked example
£2,800 income, £1,500 needs (54%), £400 wants (14%), £400 savings (14%) → £500 spare/month. Slightly over on needs, under on wants & savings — could shift £200 from spare to savings.
Who should use this
- •Anyone setting up a first budget
- •Couples combining finances
- •Households squeezed by rising bills
Common mistakes
- ×Using gross pay instead of take-home
- ×Forgetting annual costs (car tax, MOT, holidays)
- ×Treating debt minimums as savings — they aren't
- ×Setting savings as 'whatever is left' — pay yourself first
Frequently asked questions
Is 50/30/20 realistic in the UK?▾
Tough in London/SE where rent often exceeds 50% alone. Adjust targets — 60/20/20 is common for high cost areas.
What counts as a need?▾
Anything you'd struggle to live without short-term: housing, utilities, basic food, transport to work, insurance, minimum debt.
Should I save or pay off debt first?▾
Build a £1,000 starter emergency fund, then attack high-interest debt (credit cards), then save 3–6 months expenses.