Build a complete monthly budget. Track income, expenses by category, and see your surplus or deficit with 50/30/20 analysis.
Needs (50%)
£3,700.00
£4,000.00
Wants (30%)
£200.00
£2,400.00
Savings/Debt (20%)
£500.00
£1,600.00
Monthly expenses by category
| Category | Monthly Amount | % of Expenses |
|---|---|---|
| Housing | £2,000.00 | 51.3% |
| Transportation | £400.00 | 10.3% |
| Food | £600.00 | 15.4% |
| Utilities | £300.00 | 7.7% |
| Insurance | £250.00 | 6.4% |
| Debt Payments | £150.00 | 3.8% |
| Entertainment | £200.00 | 5.1% |
| Savings | £500.00 | 12.8% |
Individual expense items (converted to monthly)
| Name | Category | Monthly Equivalent | Frequency |
|---|---|---|---|
| Rent/Mortgage | Housing | £2,000.00 | Monthly |
| Car Payment | Transportation | £400.00 | Monthly |
| Groceries | Food | £600.00 | Monthly |
| Utilities | Utilities | £300.00 | Monthly |
| Insurance | Insurance | £250.00 | Monthly |
| Entertainment | Entertainment | £200.00 | Monthly |
| Savings | Savings | £500.00 | Monthly |
| Credit Card | Debt | £150.00 | Monthly |
Master your monthly budget
Create a balanced budget using the 50/30/20 rule: 50% needs, 30% wants, 20% savings. Normalize income across different frequencies.
Create a balanced budget using the 50/30/20 rule: 50% needs, 30% wants, 20% savings. Normalize income across different frequencies.
The calculation uses industry-standard financial mathematics to provide accurate estimates. Our methodology is transparent and based on established formulas.
Our calculations use standard financial formulas and are accurate for the inputs provided. However, real-world conditions (fees, rate changes, taxes) may cause variations.
Use this calculator for educational planning and rough estimates. For major decisions, consult qualified professionals who can review your complete financial situation.
Normalizes all income and expenses to monthly equivalents, then applies the 50/30/20 allocation framework.
Disclaimer: Budgets are personal. Adjust percentages based on your situation and location cost of living.
Disclaimer
This calculator provides estimates for educational purposes only. Results are based on the inputs you provide and standard financial formulas. They do not constitute financial, investment, tax, or legal advice. Consult a qualified professional before making financial decisions.
A budgeting guideline: 50% of after-tax income to needs (housing, food, utilities), 30% to wants (entertainment, dining out), 20% to savings and debt repayment. Adjust based on your situation.
Base your budget on your lowest reliable monthly income. Treat extra income as bonuses for savings/debt. This calculator converts all frequencies to monthly equivalents.
The calculator shows your deficit. Look at the category breakdown — identify variable expenses (entertainment, food) to reduce. Consider increasing income or restructuring fixed costs.
Yes! "Pay yourself first" — treat savings as a non-negotiable expense. This calculator includes savings in expenses so your surplus reflects true discretionary cash.
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