Articles on: Budgeting

Choosing your total budget

Not sure what amount you should set as your total budget in Emma? Read on to learn what we recommend.

The amount you set your total budget to will depend on a variety of factors including:

If you need to put aside money to save, invest or pay off debt
Your income
How regular your income is
The period in which you want you spend your total budget

If you're not sure where to start, we recommend that you use your monthly average income as a starting point.


You may earn income from a primary job of £1000 per month and £30 from a side hustle every week.

To calculate your average monthly income from your side hustle, follow this equation:

£30 x 52 weeks = £1,560
£1,560 / 12 months = £130 per month

Add the monthly income from your primary job (£1000) together with the income from your side hustle (£130) and your average monthly income is £1,130.

Now you know your average income, it's time to take into consideration any savings, investments or debt repayments.

None of these should be included in your total budget as these don't count as spending in Emma.


Your average monthly budget is £1,130 but you are paying off a loan at £130 a month.

Because your loan repayments should be counted towards your total budget, minus £130 from £1,130.

Now that you've taken into consideration your loan repayments, your total budget should be £1,000 per month.

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Updated on: 11/04/2022

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