Financial Health & Budget Calculator
Get a clear picture of your finances. Track your income and expenses to understand your disposable income and see how it can fund your financial goals.
Your Financial Snapshot
Fixed Monthly Expenses
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Total: £0.00 per month
Your Financial Summary
Total Income:
£0.00
Total Expenses:
£0.00
Disposable Income:
£0.00
Suggested CI Cover:
£25,000
Budget calculator guide for UK households
WeCovr's budget calculator helps UK households map income and spending, supported by FCA-authorised guidance and 900,000+ policies issued across protection products. It provides a full snapshot of monthly finances.
What this budget calculator shows
The calculator categorises fixed, variable, and discretionary spending, then compares them with household income. It calculates disposable income and a suggested protection buffer.
Use it to understand where money goes and plan future goals.
Breaks spending into practical categories.
Calculates total expenses and disposable income.
Suggests a protection buffer based on expenses.
Why a full budget snapshot matters
Small monthly leaks can reduce long-term financial resilience. A clear budget helps prioritise savings, debt repayment, and protection.
Why WeCovr supports financial planning
WeCovr provides FCA-authorised guidance with high customer satisfaction ratings. We also offer complimentary access to the CalorieHero AI calorie tracking app and discounts when customers take PMI or Life insurance.
Data sources and guidance references
This guide references FCA guidance on financial planning and common UK household budgeting categories.
Budget outcomes
| Result | Meaning | Next step | Best for |
|---|---|---|---|
| Surplus | Positive cashflow | Allocate to goals | Savings and protection |
| Balanced | Break-even | Review categories | Optimisation |
| Deficit | Spending exceeds income | Reduce costs | Debt management |
Related WeCovr resources
FAQs
How often should I update my budget?
Monthly updates are ideal, especially if income or expenses change.
Does this replace professional financial advice?
No. It is a planning tool for personal use only.
Why include a protection buffer?
It helps estimate cover needed if income stops due to illness or death.
Can I use this with joint household income?
Yes. The calculator includes partner income fields for a full household view.