It really depends on your personal goals and situation—but a handy guide that works for many is the 50/30/20 rule.
Here’s the breakdown:
• 50% of your income goes on essentials (think rent, bills, food)
• 30% on non-essentials or “wants” (like eating out, subscriptions, treats)
• 20% goes straight into savings or investments
If saving feels tricky right now, this method can give you a clear structure and help you see where your money’s going.
Let’s say you take home £2,000 a month:
• £1,000 would cover your needs
• £600 for your wants
• £400 towards savings
Once you jot down your spending and slot it into these three categories, it gets much easier to see the full picture. You’ll be able to spot where you might be overspending—and where you can make simple switches to stay on track with your goals.
💡 Looking for a simple way to start saving?
Check out the Thamesbank savings account – an easy and safe place to build up your savings and watch your money grow over time. Whether you’re saving for a rainy day or something special, every little bit adds up.