Household Budget Calculator 2016/17
To use the calculator simply:
- Click on the plus symbol.
- Enter the expenses and income of your household.
- Review your household budgeting plan and act on it.
Our Household Budget Calculator allows you a simple way to track the expenses of household and compare it to your income, allowing you to keep an eye on your financial status.
The first step to saving money and budgeting is to understand not only how much income you receive each month, but how much you are spending each month.
Using this calculator will let you see where your money goes to. All you have to do is enter your income and the other required financial details, and let the calculator do it's work. To enter both your income and the bills you have to pay each month, click on the plus icon. Not only will the calculator show you a complete overview of your monthly financial report but it will also display a pie chart showing you where your income goes.
You are able to find each element by on the title of whichever section you'd like to find in the main results. If you would like any additional information or features available for use on this calculator then feel free to contact us.
After you have worked out what your monthly household budget is, use our savings calculator to see just how much you will be able to spend on a future event.
Increasing Your Monthly Income
It's important for you that you have a positive household cash flow. It allows you to relax more as an individual and have to worry less about paying bills. If you manage your monthly household cash flow effectively you will find it easier to handle that stress, if there is any.
It's important to work towards increasing your monthly income. Follow the steps below, and provided that you keep a positive attitude and stick to the plan, you should find nothing but success.
- Firstly, take all of your recent bills and bank statements and use our Household Budget Calculator which is above.
- Secondly, take a look at our savings calculator for some fantastic tips on saving money.
- Thirdly, look into money-saving tips and create a list of ideas which you could work on doing so that you can save some money.
- Fourthly, take a look at your savings plan. If you don't have one, create one. Whether it's weekly, daily, monthly, whichever you choose. Review it and make sure that it's as effective and efficient as it can be.
- Finally, after a few months come back and use our Household Budget Calculator above. Compare your results with the first result you got. If it compares badly, make changes. Otherwise, continue with your savings plan.
Budgeting For The Future
Although you are constantly under financial pressure, it's important that you try to stay relatively stress free and calm. With this in mind, it's important to plan ahead for your financial future.
As the global economy continues to improve and you get a better grasp on your household budgeting, it is important that you still review the household insurances that you have to make sure that if something terrible happens, you are able to cover yourself.
Although these aren't things that you should think about on a regular basis, make sure that you have life insurance costs to:
- Prevent You Losing Your Home: An estimated 50% of the 14.5 million UK mortgage holders don't have appropriate life insurance support. Make sure you have sufficient funding so that you and your loved one don't lose your home.
- Protect Your Children: The estimated cost of raising a child from birth all the way through college and university, is estimated at around £222,000. If something were to happen to you, not only is the stress of losing a parent going to overwhelm your children but realizing that they have a lack of financial support for their future will also have a big impact on them.
- Save Your Family From Paying Your Funeral Bills: In the UK, the total costs of a funeral averages at around £7,662. That means that when you pass away, it gives your family a large bill they may struggle to pay.
- Save Your Family From Debt Issues: Without your financial input, how are your family able to pay off their debt? Keep this in mind.