Budget Calculator

Understanding your income and outgoings could help you to manage your money. You can use our free online budget calculator to get a clear view of your finances and keep track of exactly where your money is going.

What's a budget calculator?

To get a simple summary of your finances, you just need to add some basic personal details, including your incoming and outgoings, into our budget calculator. It’s free, simple to use, and you don’t need to log in to get started. It’s a helpful tool if you’re wanting to take the first step of figuring out how to save money to put into savings, preparing for a big purchase, or continuing on your journey to becoming debt-free.

Why use our budget calculator?

After using our budget calculator you’ll be given a budget summary providing a simple look at your incomings, outgoings, and what you have left over. You can also use our tool as an outgoings calculator to get a better look at how much you’re spending on recurring bills and payments as well as everyday costs and spending. From there, you can identify where you might be to see if there are places you can spend less. If you’re a Lowell customer, we’ll go through our budget calculator with you when setting up a payment plan to make sure you’re on the best plan for your personal situation.

Start budget calculator

Before you start

Use your latest bank statements to help you fill in the form. It might also be useful to have other bills and statements to hand, like wage slips, utility bills, pension income or benefit statements.

Try it now

Make a start

You just need to add some basic information about your household to get started. If we know more about your living arrangements, that means the budget calculator will be tailored to you and your personal situation.


Add your income

This is how much money you have coming into your household, which might include wages, bonuses, benefits, pension or tax credits. You can choose whether to base your income on a weekly, fortnightly, or monthly basis.


Include your outgoings

This is your household spending. It's important when you think about your outgoings to consider your priority bills - utilities, rent or mortgage payments, and any other loans or court payments. If these are in arrears, you should make sure they're up to date before you start paying Lowell. You can choose whether to provide an amount based on a weekly, fortnightly, or monthly basis. We’ll also ask about other everyday costs and spending such as travel, food and housekeeping, and insurance. If these slightly change, give an estimate as our budget calculator just needs an idea of how much you’re spending on these things.


Check your results

Now you have a clear view of what's coming in and going out of your household, you can see what's left over - your disposable income. Whatever the outcome, there are options available for you. If you’ve got a Lowell debt and are struggling to make your debt payments, please get in touch with us and we’ll go through our budget calculator with you to make sure you’re on a suitable debt repayment plan.

Payment options Contact us
Check your benefits

Check your benefits

Every year in the UK, £15 billion of benefits go unclaimed. Try our benefits calculator, powered by entitledto, to check whether you could be missing out.

Try our benefits calculator
Need some help budgeting?

Need some help budgeting?

It's tricky knowing exactly what you're spending and where, so we've teamed up with Snoop, the free money management app. Snoop lets you see all your bank accounts in one place, and automatically categorises your spending for you.

Find out more about Snoop
Help and support

Help and support

If you're not sure what to do next, or you need some advice, there are lots of independent organisations that can help you when it comes to managing your money.

Find support