By Ruby Lizon-Walker


You could be on this page because you’re wondering exactly how much you spend each month. Or perhaps you heard a colleague mention their life-changing monthly household budget plan and are wondering what all the fuss is about. No matter the reason, the household budget calculator is a quick and easy way to create a household budget and optimise your spending.

Household Bills Calculator FAQs

How do I find out how much I am spending?

A budget planner will take all of your outgoing expenses, both essential and discretionary, and add them together to create a single “total outgoings" figure.

This information can then be balanced against your income to create a breakdown of:

  1. An annual outgoing that can be compared to an annualised salary
  2. Percentages of spending per category (EG bills, food, travel)
  3. A clear breakdown that can help you identify areas of overspending

Using a free budget planner is a really easy way to make yourself a household budget without hiring a financial advisor, and is quicker than doing all those additions yourself!

Why should I create a household budget?

A household budget is the first step to managing your money. By balancing your income with your monthly outgoings, you can start to make cutbacks where needed. This can also be a great first step towards making a savings plan, or emergency fund.

If you’ve ever got to the end of the month and wondered, “where has all my money gone?" then a household budget is for you.

Even if your discretionary spending is at zero, learning how to calculate household bills can also be a really good way to manage a really tight budget. Figure out whether you need to take the heating off its timer, switch to metered water, or replace your lamps with LED bulbs, based on how large of a percentage your utilities eat into your wages or benefits allowance.

Start budgeting and answer the age-old question; “Where is all my money going?" with Savoo’s free online budget planning tool.

What other tools can I use to manage spending?

There are several other tools you can use to optimise your weekly and monthly spending, including some general savings advice from Savoo, our discount codes, and our other financial calculators:

How to use the household bills calculator

We recommend making a list of your essential spending and discretionary spending first, so they are ready to add to the relevant calculator windows. This can be used as a monthly budget calculator or a yearly budget calculator, so decide which denomination you want to enter your spending information in. Then follow the simple steps below to get your monthly total!

  1. Under the "Assumptions" tab, decide whether you wish to enter your outgoings in monthly or annual figures
  2. Under the "Expenses" tab, enter all of your outgoings in GBP
  3. Scroll to the bottom and click "Calculate"
  4. Scroll down again to view your Results and Summary Table!