Budget
A budget is a plan that compares your income with your spending, so you can decide where your money should go.
Also known as: budgeting, household budget
A basic budget lists your take-home income, your essential costs such as rent, bills and food, your debt payments, and what remains for savings and other spending. The best budget is one you can stick to, so it should be realistic and reviewed regularly.
Methods range from detailed spreadsheets to simple rules such as 50/30/20. Whichever you choose, base it on real figures from your bank statements rather than guesses.
Our free budget planner can help you put this into practice, and nothing you enter is stored.
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9 min readRead Budgeting & SavingThe 50/30/20 Budget Rule Explained for UK Households
How the 50/30/20 budget rule works, how to apply it to UK take-home pay, worked examples, its limits on a tight budget and how to adapt it.
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7 min readReadThis page provides general information only. It is not personalised financial, legal or tax advice, and rules and figures can change. Your situation is unique — please check official sources such as GOV.UK and MoneyHelper, and speak to a qualified, FCA-authorised adviser before making important decisions about your money.