Articles on: Budgeting

What is your total budget in Emma?

There are two ways we suggest for how you may want to work out your budget.

If you want to budget for a certain amount so you have funds remaining to save or pay off debts you can calculate your budget like this:

To keep things simple let's say you earn £1000 per month after tax and want to save £100 each month. You can set your total budget as £900 so you aim to stick to only spending this amount which leaves you with £100 to use for your savings or paying off debts.

Alternatively, you can view your Recurring payments in Emma. Recurring payments include all the payments that are due to be paid in your budgeting period. You can see the total of your recurring payments and add how much you expect to spend on other expenses in a month and set this as your total budget.

For example, if your recurring payments add up to £200 and you plan to spend £800 on other expenses, you can set your total budget to £1000.

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Updated on: 09/08/2023

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