Step 2 Work out your business and household budget

​A business and household budget is an essential tool to help you tackle debt problems.

Our budget tool Your budget will help you work out a detailed budget. You can use our budget tool if you are a sole trader, a partner in a partnership or a director of a limited company.

You can then see how much you have left over and this will help you work out the best way to deal with your debts.

Once you have entered all your information into Your budget you will be able to save or print off your budget.

Working out a budget sheet using Your budget is easy, but you can also use these Step 2 pages if you need any extra help. Use this section to guide you through filling in your budget.

  • Use the first part of this step if you are a sole trader or a partner in a partnership. This will help you work out how much you have coming into your business and what is going out. You can then see how much the business can afford to pay you (your drawings). This is called your business budget.
  • You should then fill in your household budget using the second part of this step. If you are a director of a limited company you should only fill in your household budget. This will help you see how much is left over so you can work out the best way to deal with your debts.