Budget tools

Use tools and online support to make budgeting easier.

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Introduction 1. Why use these tools? 2. Tools from your bank 3. Other online tools 4. Finding the right one

Introduction to 'Budget tools'

It's good to have a budget but it’s not always easy to create your own. The first thing is getting started. Then making sure you’ve thought of all your outgoings and working it all out. Once you've built your budget, you'll need to keep on top of it, too. The good news is, there are tools to help you.

In this lesson, we’ll share these tools with you. We’ll show you where to find them, what they do and how you can use them. Plus, we have tips on finding the one that’s right for you.

What you'll learn

  • The budgeting tools and features on your banking app or website.
  • Tools that can work out your budget for you.
  • Other tools and where to find them.

How long it takes

5 minutes

Chapter 1 - Why use these tools

Why use these tools?

Chapter 1

How long it takes

1 minute

The benefits of budgeting tools

 

With these tools, you can:

Keep things simple

These tools are made to be user-friendly. So you can build your budget and track your money more easily.

See everything in one place

You can track your income and expenses without having to juggle lots of bills, receipts and statements.

Stay on top of spending

Get updates and alerts when you spend, so you know exactly where your money goes, straight away.

Set and reach your money goals

Want to save for a holiday or pay off a debt? These tools can help you set your goals and keep you motivated.

See where you spend 

Many of these tools have charts and visuals to show your spending habits. You can use these to help work out where to cut down.

Track and budget wherever you are

On your phone, tablet or computer - these tools travel with you. So you can budget at home or away, and check your spending on the move.

Each tool is different

In the rest of this lesson, we'll explore different types of budgeting tools. Each one has its own benefits. Some help you build a budget, while you can use others to keep track of your spending or reach your savings goals. Bear this in mind as you read through the next chapters. This will help you work out which ones are right for you.

Introduction - Budget tools
Chapter 2 - Tools from your bank

Tools from your bank

Chapter 2

How long it takes

2 minutes

Online banking and banking apps

If you bank online, you're likely to have plenty of budgeting tools already. Banking apps and online banking sites have a range of features to help you keep on top of your finances. You'll find some of these on both the app and the online banking site. Others may just be on the app or the website. So, it's good to check what your bank has, and where.

What these tools do

These tools work together to help you see everything from your daily spending habits to long-term budgeting and saving goals. They do vary from bank to bank. We're including some of the most common features here.

Manage your regular payments

This feature lets you see payments you make regularly. You'll be able to see what you've spent so far, and when the next payment is due.

It helps you spot things like subscriptions that you don't use much or at all. Then you can use the tool to cancel those payments and start to save that money or use it on other things.

Spending insights

These help you track your spending habits. For instance, you can see how much you spend in your favourite coffee place each month, or on travel this year.

As you get to know your spending habits, you'll be able to see where you might be able to save.

Round ups

These tools help you save small amounts with very little effort on your part. They may be called 'Save the change' or 'Save the pennies'.

Each time you make a purchase with your debit card, the tool rounds up that spend to the nearest pound. It then moves the spare change automatically into your savings account or a separate 'pot'.

Spending alerts and caps

Most banking apps let you set notifications for transactions. This means each time your card is used to to pay for something, your app will let you know. This can help you pause your spend. It has security benefits too - if it's not you making that purchase, you can quickly let your bank know and freeze your card.

Some banks also let you set  limits on spending in certain areas to help prevent overspending.

Chapter 1 - Why use these tools?
Chapter 3 - Other online tools

Other online tools

Chapter 3

How long it takes

1 minute

Tools and where to find them

There are plenty of tools that can help with budgeting, as well as those from your bank.

Spreadsheets

Use software like Google Sheets and Microsoft Excel to list your income and outgoings. Their built-in functions work out what you have left over. Each time you change your income or outgoings, they'll re-calculate your new balance for that month.

Budget builder sites

These do the calculations and have ideas to help you save money. You can find these tools in the Citizens Advice and Money Helper websites. These government-approved, trusted sites have money management tips and advice, too.

Budgeting apps

Check out your device’s app store - look for a ‘money’ category to find some recommended and commonly used apps that may be able to help you budget. Examples here include Pocketsmith, Emma, Snoop and Actual Budget.

More on this topic

Many apps and tools (including those in your banking app) use something called Open Banking. This can help you see and manage your money from different accounts and services. 

The Open Banking website explains what this is and how it works.

Chapter 2 - Tools from your bank
Chapter 4 - Finding the right one

Finding the right one

Chapter 4

How long it takes

1 minute

How to pick a tool that works for you

In this lesson, we've shown examples of some of the many budgeting tools that are out there. But how do you pick one that you're likely to use, and meets your needs? 

Ask yourself:

 

Be aware

Be careful to select apps and software that are well reviewed, safe and trusted.

Check the reviews on your device’s app store. Ask the people you trust which ones they use and can recommend.

Want to learn more?

Budget

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Bank and manage money online

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Related lessons

Make payments online

View lesson

Bank online

View lesson

Tools and steps to help reduce your costs

View lesson
Chapter 3 - Other online tools

 

Lloyds Bank Academy is committed to providing information in a way that is accessible and useful for our users. This information, however, is not in any way intended to amount to authority or advice on which reliance should be placed. You should seek professional advice as appropriate and required. Any sites, products or services named in this module are just examples of what's available. Lloyds Bank does not endorse the services they provide. The information in this module was last updated on 12th December 2025.

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