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We've put together a handy set of calculators to help you work things out.
Budget Calculator : work out your monthly budget
Debt Predictor - are you heading for problems?
Budget Calculator
This simple form lets you detail your income and outgoings in a nice and easy way.
By taking into account everything from normal income, benefits and tax credits, your partners and other income you can see how much you really have coming in.
When you then enter your monthly outgoings, with everything split into easy to remember categories, you can just hit the calculate button and the system will let you know straight away how much is left over with with to pay your creditors with.
Because the calculator only includes what are regarded as the essential living expenses you can print off your planner and use in formulating a debt management plan.
Even if things look ok now, you may want to put the figures through your own personal debt prediction calculator (see below)
Debt Predictor
This fantastic new tool enables you to see what may happen to your finances as a result to changes in the economy. With interest rates seemingly on an upward path, house prices still climbing and people starting to keep one eye on inflation, maybe the economy is in for a little bump.
By adding in your own details plus how you feel the economy might go, you'll be able to get an idea of how you might be affected.
The debt predictor tool takes into account inflation, interest rates and house price inflation over a 5 year period. By using the debt predictor tool you'll be able to see how much of your debt has been paid off, or even predict how much extra you may need to find if things don't quite go so well.
The debt predictor is still beta and the results are still being analysed but it is already serving a useful indicator as to how even minor economic instability can dramatically affect day to day living expenses.
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