What’s your annual income?
This simple calculator is designed to help you work out how much you can save by reducing your expenses.
It shows how much money you’ll need to save to cover the average expenses of a typical family.
The calculator shows you how much your annual expenses are, how much it costs you to live, and how much is enough to cover your basic expenses.
How to get started The calculator calculates the average annual expenses for a typical household.
For example, a family of four earning £25,000 a year will need to pay £20,000 for the average two-bedroom apartment, £7,000 to cover transport and £1,600 to cover food.
For more information on how the calculator works, check out our How to Calculate your Income to Reduce Your Expenses article.
You can also use this calculator to determine how much extra you can earn each year to meet your basic living expenses, such as mortgage repayments.
If you don’t have any savings and/or don’t want to make a mortgage payment, you can also check how much income you’ll have left over from your investments or investments you’re buying.
The main thing to remember is that the calculator uses your income as a guide and is designed only to help people working towards a more balanced lifestyle.
It is not a complete accounting of your income, so you need to keep this in mind when making your own income calculations.
Find out more about how the income calculator works.
What if I can’t save more than £100 a year?
You can use the income-saving calculator to help make a decision about how much to save each year.
You may need to consider your own financial situation and the income you’re earning from your work.
You might also need to talk to your accountant about your options and find out if it’s best for you to have a larger or smaller savings plan.
Find more about the income savings calculator.
If the income your family earns is less than £150 a year, you may need additional help.
For details, see our income-cutting calculator article.
If your family earn more than this amount, they’ll need extra help.
These extra payments might include: child tax credit