How much money do I even have anyway?
One thing I noticed upon starting to think about my income as a future graduate is that it really isn’t straightforward. Income tax? National insurance? Student loan repayments? I’d gone from simply splitting my student loan up into daily chunks to having to comprehend staggered personal allowance, tax bands, and the fact that my ‘salary’ really wasn’t representative of what I had to actually spend.
I wanted something that let me stick in my gross salary and quickly find out how much I would have left after the taxman had his share. I know that graduate budget planners that do all of this exist, but the ones I came across were all a bit too clunky for my liking. I knocked up a quick spreadsheet, but budgeting envy from a friend prompted me to build something for more to use.
You can find the result at skint.io. Enter your gross salary in the box at the top, and it’ll calculate your income tax and national insurance payments, along with student loan repayments, if you select the option.
You can also enter your monthly expenses, and at the end you’ll get a single number which is how much is left at the end of the month, with everything else taken into account. Hopefully it’ll be positive. Hopefully…
Your settings are saved between visits by your browser (not me!), so you can come back and adjust your salary and expenses whenever they change.
Simple, right? Give it a go, and let me know if you have any suggestions.