Budget Tool

If you've never prepared a budget, the below might look a little overwhelming so focus on one section at a time.

We usually know our income amount/s but it's too easy to 'guesstimate' the outgoing amounts, so a good source of information is previous utility bills, TV license and shopping receipts, as well as bank statements. If you don't have these and must estimate, it's better to over-estimate.

Not everyone has a regular monthly income but for simplicity we're using monthly totals. For any weekly amounts multiply up by 52 and divide by 12, to give you a monthly figure. Similarly, some outgoing payments, such as insurance renewals, may be paid on an annual basis, so for these divide by 12 to give you the monthly amount to set aside, which eases the finanical burden when the payment is due.

The easiest way to complete the planner is online. The totals auto sum and there is a SAVE button to allow you to save your input at any point. After entering each number hit enter/go/done.

Once completed, you'll have a clearer view of your current financial situation which will help you budget through the year, and be available if you need to prove your financial position when applying for a loan or mortgage, for example.

At the top of the page, there are three options:

  • SAVE - Pressing this button will give you a randomly generated alpha-numeric code, allowing you to save the current input and return at a later date to review and amend as needed. The code is called a Budget Reference.
  • LOAD - Pressing this button will allow you to provide a Budget Reference which will load back your previously saved budget.
  • PRINT - Allows you to print your final input for future reference.
  • DELETE - All saved data for the currently loaded Budget Reference will be immediately deleted. This will be greyed out until such time as a budget was loaded.
YOUR INCOME: Earnings, Pension, Benefits etc Monthly Total
Gross Salary from your job/s or business
Pension (State and/or private)
Benefits and income support
Child maintenance
Interest and/or dividends from savings and investments
Rental income
Other income
YOUR OUTGOINGS: Everyday expenses Monthly Total
ITIS deduction
Social Security and LTC deduction
Mortgage or rent
Property service charges
Grocery and household shopping (not alcohol or cigarettes)
Energy supplier costs for heating, cooking and hot water e.g. electricity, gas, oil
Parish rates
Internet contract
Phone e.g. contract, calls, mobile handset and/or landline
Water rates
Childcare e.g. nursery, childminder and babysitter
School fees including school meals, courses
University courses and accommodation
Pet care and food
Daily spends e.g. coffee, lunch, newspaper
Transport costs e.g. petrol, parking, bus fares
Subtotal: £0.00
YOUR OUTGOINGS: Insurance policies Monthly Total
House e.g. mortgage protection plan, buildings and/or contents
Medical e.g. private medical, dental, pets
Subtotal: £0.00
YOUR OUTGOINGS: Clothes, Health and Beauty Monthly Total
New clothes and shoes
Dentistry e.g. check ups, hygienist, dental work
Optician e.g. check ups, contact lenses, spectacles
Audiologist e.g. check ups, hearing aids, batteries
Gym membership
Sports equipment and clothing
Subtotal: £0.00
YOUR OUTGOINGS: Entertainment and Social Monthly Total
Alcohol for home including subscriptions e.g. Gin Club
Meals out
Entertainment subscriptions e.g. Amazon Prime, Netflix, SKY, Spotify
Other subscriptions e.g. Apple, Adobe, Kindle, magazines, newspaper
TV Licence
Subtotal: £0.00
YOUR OUTGOINGS: Loans and Debts (other than mortgage) Monthly Total
Car loan
Holiday loan
Consolidated loan
HP Repayments
Credit card repayments
Subtotal: £0.00
YOUR OUTGOINGS: Christmas, Life Events and Large One-Off Spends Monthly Total
Bar mitzvah or other religious ceremonies
Christmas/EID/Diwali or other religious festivals
New kitchen or bathroom
Furniture e.g. sofa, TV, dinner table
Subtotal: £ 0.00
Total Income: £ 0.00
Total Expenditure: £ 0.00
RESULT: Your current income and expenses balance is: £ 0.00