How can I work out my disposable income?

You can calculate your disposable income by subtracting your essential expenses, such as rent, bills, food, and travel, from your total monthly income. This Budget Planner tool does the calculation for you and shows the result with a pie chart breakdown.

Why is disposable income important before taking a loan?

Disposable income is important because it shows whether you have enough money left after essentials to cover loan repayments. If your disposable income is too low, borrowing could put you at risk of financial difficulty.

Can this tool help me decide if I can afford a payday loan?

Yes. The Budget Planner helps you see if you have enough disposable income to cover short-term borrowing like payday loans. However, this tool is for guidance only – always check affordability with your lender and consider safer alternatives where possible.

UK Budget Planner & Affordability Checker – Free Online Tool

Representative APR: 79.5 % (fixed) View Example

Here's an example to illustrate: Representative APR of 79.5% (fixed). Here's an example to illustrate: If you borrow £1000 for 12 months, your monthly payment will be £123.40. The total amount repayable will be £1480.80, including £480.80 in interest. The interest rate is 79.5% (fixed). Interest rates range from 11.8% APR to 1721% APR. You can request a quote without any obligation. The APR you receive will depend on your personal circumstances. Our loans are available for amounts between £100 and £5000, with terms ranging from 3 months to 36 months

Before you even consider taking out a payday loan or any other kind of short-term loan, it's absolutely crucial to get a handle on your finances. UK lenders have a responsibility to assess whether you can comfortably repay the loan, but ultimately, you need to be certain about what you can realistically afford. For many, after covering essential living costs like rent, utilities, groceries, and commuting, there's often very little money remaining.

A basic budget tracker can be invaluable in revealing exactly where your money is going each month and highlighting your true level of discretionary income. If you're spending more than you're earning, obtaining a payday loan could significantly exacerbate your financial difficulties. However, if you consistently have a reasonable surplus after covering your essential expenses, you'll be in a much stronger position to decide if a short-term loan is a viable option.

To gain a clearer picture, utilize the resource provided below to input your earnings and monthly outgoings. The calculator will then display your available income after expenses and provide a clear, visual representation of your spending habits.

How much do you want to borrow?

UK Budget Planner & Affordability Checker – Free Online Tool

Budget Planner / Affordability Checker (with Pie Chart)

💡 Budget Planner (UK)

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