Monthly Surplus / Deficit
£0.00
Annual surplus: £0.00
Total Income
£0.00
Total Expenses
£0.00
Surplus / Deficit
£0.00
Savings Rate
0%
of income saved
Annual Surplus
£0.00
Emergency Fund
£0.00
3 months of expenses
Enter your income and expenses to see your budget breakdown.
Expense Breakdown
Spending by Category
| Category | Monthly | Annual | % of Income |
|---|
50/30/20 Budget Rule
The 50/30/20 rule is a popular budgeting framework. After tax, allocate 50% to needs, 30% to wants, and 20% to savings and debt repayment.
50%
Needs
Housing, utilities, food, transport, insurance
30%
Wants
Eating out, hobbies, holidays, subscriptions
20%
Savings
Emergency fund, pension, debt repayment, investments
Based on your defaults: · goes to needs, · to wants, and · to savings/financial goals.
Budget Planner FAQs
What is the 50/30/20 budget rule in the UK?
The 50/30/20 rule splits your after-tax income into three buckets: 50% for needs (rent, bills, food, transport), 30% for wants (dining out, entertainment, subscriptions), and 20% for savings and debt repayment. It is a starting framework · in high-cost areas like London you may need to adjust, spending more on needs and less on wants until your income grows.
How much should rent be as a percentage of income in the UK?
A widely used guideline is to spend no more than 30% of gross income (or 35–40% of take-home pay) on rent. On £2,000/month take-home that means up to £700–£800/month on housing. In London and the South East many renters exceed this · if you do, reduce other discretionary spending to protect your savings rate and avoid falling into debt.
What are average monthly expenses in the UK for 2026?
Average monthly household expenses in the UK for 2026 are roughly: rent or mortgage £900–£1,400 (varies widely by region), groceries £250–£350, energy bills £120–£160, transport £100–£250, broadband and phone £50–£80, and insurance £80–£120. Total essential outgoings for a single person typically run £1,400–£2,000/month depending on location and lifestyle.
How do I save money on a £25,000 salary in the UK?
On a £25,000 salary your take-home is approximately £1,740/month. Using 50/30/20: aim to keep needs under £870, wants under £522, and save £348/month. Practical steps: use a Cash ISA for tax-free savings interest, switch to a cheaper energy tariff and SIM-only mobile plan, meal-prep to cut food costs, and set up an automatic standing order on payday so savings happen before you spend.
For informational purposes only · Not financial advice · Figures are estimates based on the values you enter