WholioA budget is just a plan for how much you'd like to spend on each part of your life each month. It doesn't need to be strict to work. It needs to be close enough to real life that you'll keep looking at it.
1. Start from what you already spend
Look back over the last two or three months, using your bank statements or receipts. Roughly add up what went on groceries, eating out, transport, bills, and everything else. Don't judge it yet. This is your starting point, not your target.
2. Pick a few categories
Fewer categories are easier to keep up with. Five to eight is plenty for most people, for example:
- Groceries
- Eating out
- Transport
- Bills and subscriptions
- Entertainment
- Everyday items
- Other
If one category grows large, split it later. Starting simple is what makes a budget last.
3. Set an amount for each
Begin with what you spend now, then trim where it feels easy. Leave some room in "Other" for the things nobody plans for, like a gift or a repair. If you keep going over a category by a lot, the budget isn't helping: change the amount instead of feeling bad about it.
4. Take care of fixed payments first
Rent, phone plans, streaming, insurance, and gym memberships come out every month whatever you do. Count them first, or set them up as recurring payments, so they never surprise you halfway through the month.
5. Check in once a week
During the month, the number that matters most is how much is left, and roughly how much that is per day. A five-minute check each week catches problems while there's still time to adjust, instead of at the end of the month when it's too late.
A common starting rule: some people split take-home pay into about 50% for needs, 30% for wants, and 20% for saving. It's a useful rough guide, but your own numbers from the last few months will tell you more.
How Wholio helps
Wholio is a free budget tracker that works on your phone, tablet, or computer.
- What's left, at a glance. See how much is left this month and about how much you can spend a day.
- Weekly view. A chart compares each week's spending with your weekly budget.
- Your own categories. Rename them, add your own, and give each its own colour.
- Recurring payments. Add regular bills once and they're added for you each month.
- Quick to add. Type an amount or scan the receipt, and the details automatically fill in.
- More than one tracker. Keep household spending and a holiday separate.
- No bank login. You stay in control of what goes in.
Common questions
What if I go over budget?
Move money from another category this month, or raise that budget next month. Going over once is useful information, not a failure.
How long until a budget feels normal?
Most people need two or three months of adjusting before the amounts feel right. Keep checking in weekly and change what isn't working.
Do I need to connect my bank to use Wholio?
No. You add spending yourself or scan the receipt. Wholio never asks for your bank login.