Budget Planner (UK)
Plan your monthly budget using the 50/30/20 rule, and see how your spending on needs, wants and savings compares to the guideline.
Your details
Your income after tax and other deductions.
Your results
Your figures appear here as you fill in your details.
This calculator is for educational purposes only and does not constitute financial advice. The 50/30/20 rule is a general guideline that may not suit everyone. For personalised advice, please consult a qualified financial adviser.
Worked example
Here is what the calculator shows for one example. Change the figures above to see your own.
| Monthly take-home income | £2,500 |
|---|---|
| Needs (housing, food, transport, bills) | £1,200 |
| Wants (dining, entertainment, shopping) | £600 |
| Savings & debt repayment | £400 |
| Needs | £1,200 (48% of income) |
|---|---|
| Wants | £600 (24% of income) |
| Savings & debt repayment | £400 (16% of income) |
| Unallocated income | £300 |
How this works
This planner uses the 50/30/20 rule, a simple framework for splitting your monthly take-home pay:
- 50% on needs: essentials you cannot easily avoid, such as housing, food, transport and bills.
- 30% on wants: lifestyle spending like dining out, entertainment and shopping.
- 20% on savings: money put aside, including paying down debt.
We compare each of your figures against its target share of income. Needs and wants are flagged favourably when they are at or below their target, and savings when it is at or above its target.
Finally, we add up your three categories and compare them to your income. Anything left over is unallocated income; if your categories total more than your income, you are over budget.
Assumptions
- The 50/30/20 split is a general rule of thumb and may not suit everyone's circumstances.
- Percentages are based on your monthly take-home (post-tax) income.
- Debt repayment is grouped with savings, following the common version of the rule.
Last updated . Figures are UK-specific. Check current rates on GOV.UK before acting.