rwtag Budget Calculator | Baby Budget Planner - Money For Mums



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Home > planning > Budget calculator

Budget calculator

This easy-to-use calculator will help you work out your monthly budget and everything's broken down into sections to help make sure that you don't forget anything important.

Before you start you'll need a few figures to hand (although we've added a few in to help you out):

  • Your household Earnings after Tax (pay minus tax, National Insurance and any other deductions)
  • Your Child Tax and Working Tax Credit entitlements (remember you can use our benefits calculator to work these out)
  • An idea of your monthly outgoings: including money spent on food, utilities, insurance premiums and mortgage/rent.
  
(Not started) Click here to open this section of the calculator Your Monthly Income
Info Before the baby After the baby
Parent One (Monthly Salary/Wages) £ £
Parent Two (Monthly Salary/Wages) £ £
Child Benefit £ £
Childcare Contributions Paid by Your Employer £ £
Child/Working Tax Credits £ £
Income Support (Inc Housing & Council Tax Benefits) £ £
Income from Savings & Investments (after Tax) £ £
Additional Monthly Income from Other Sources £ £
Total Monthly Income £0.00 £0.00
(Not started) Click here to open this section of the calculator Household Spending
Info Before the baby After the baby
Mortgage or rent   £ £
Council tax   £ £
Water bills £ £
Gas, electricity and/or other fuel bills £ £
Phone, internet, TV and Satellite Bills (inc license fee) £ £
Buildings and contents insurance policies £ £
Life insurance policies £ £
Credit Card repayments   £ £
Other loan repayments   £ £
Personal Pension contributions (additional to any already deducted from your salary)   £ £
Regular savings £ £
Total Monthly Household Spending £0.00 £0.00
(Not started) Click here to open this section of the calculator Living Expenses
Info Before the baby After the baby
Entertainment £ £
Holidays £ £
Leisure activities inc Gym Membership £ £
Travel (inc to and from work) £ £
Car (inc fuel) £ £
Food, toiletries and household basics (excluding baby stuff)   £ £
Clothing (excluding baby clothes) £ £
Additional Spending   £ £
Total Monthly Living Expenses £0.00 £0.00
(Not started) Click here to open this section of the calculator New Baby Expenses
Info Before the baby After the baby
Childcare costs £ £
Baby food and baby toiletries £ £
Disposable nappies £ £
Baby clothes £ £
Nursery furniture inc Cot, decorating the room, etc. £ £
Baby equipment inc, prams, car seats, etc. £ £
Total Monthly New Baby Expenses £0.00 £0.00
(Not started) Click here to open this section of the calculator Other One-Off Expenses
Info Before the baby After the baby
Household items, white goods, furniture, etc. £ £
Other   £ £
Total Average Monthly One-Off Costs £0.00 £0.00
Total Income Before the baby After the baby
£0.00 £0.00
Total Outgoings Before the baby After the baby
£0.00 £0.00
Total before the baby
Total after the baby

All calculators on the site should be used as a guide only and we will not be liable for any inaccurate information. Please visit our Terms and Conditions and Privacy Policy for full details.

If you wish to print your calculations, please click here.

Your household's main salaried income.
The second income where appropriate.
Currently £20.30 per week for your eldest (or only) child and a further £13.40 per week for each child thereafter.
You may be able to get help from your employer - visit the Working section for more info.
Do you know what benefits you're entitled to? Visit the Benefits section to find out.
If you currently receive income support, your benefits may change when you have children. Please check with your current benefits office.
Any income you receive from stocks, shares, savings, etc aggregated to a monthly sum.
Further income including ad hoc work, support from your family or child maintenance from an estranged partner etc.
You probably receive a quarterly bill so you will need to calculate the monthly average.
You may have a mixture of monthly and quarterly bills so you might need to do a few sums to give yourself an average monthly figure.
A standard license fee for a colour set is £145.00 or just over £12 per month.
If you don't already pay in instalments this will be an annual premium that you will need to divide by 12.
If you don't already pay in instalments this will be an annual premium that you will need to divide by 12.
Don't forget to include any savings provisions including child specific savings options like Child Trust Funds that you will be intending to make. Visit the Savings section for more information.
Remember that after your baby arrives the type of entertaining you do may change, eg, you may have more takeaways, DVD rentals and friends round for dinner and drinks instead of going out.
You may need to consider baby-friendly destinations and the practicalities of transporting everything your baby will need while you're on holiday.
Obviously while you're on maternity leave this can be a big saving.
Any monthly car repayments that you make and an average monthly spend on petrol.
You can take a monthly average to help you budget.
If you need help working these out please use our childcare calculator. If you just want a figure to be going on with then according to the Daycare Trust, the cost of a full-time nursery place ranges from £126 to £375 a week or £546 to £1,625. For part-time care £190 is a monthly guide cost based on two 8-hour days a week. Please note that places in London in particular can cost a lot more.
Guide cost only.
Guide cost only.
Guide cost only.
These are really one-off expenses so you may or may not want to include them in a monthly budget depending on whether you already have the money to pay for them. If you need to save or pay in installments then use the 'before' (saving up before baby arrives) and 'after' (paying off the cost on a monthly basis) columns appropriately. You could allow £400 as a guide.
Click here for a list of the essentials you need.
Provide a figure that covers monthly installments from Hire Purchase agreements or if you're saving up or a figure that covers the amount you need to save each month. Remember to work out whether these are things you can afford before the baby comes when you'll often have a higher total household income.
  

Important Information: The contents of this website must not be interpreted as financial advice. You should not rely on the comments and views expressed within this site. Your own individual circumstances should always be considered. If you have any doubts regarding financial matters you should seek advice from a suitably qualified professional. See our Terms and Conditions for more information. Site last reviewed and updated 02/09/10.

  
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