{"type":"document","data":{"contentType":"onecms:productPage","flexPageMetadata":{"afmBanner":false,"description":"When you think of budgeting, you might immediately think of “cutting back” or “being frugal”. But really, it’s just about planning your money. It helps you understand, for example, how much you’ll need for your dream holiday, and how many coffees‑to‑go you might swap to make it happen","robotInstruction":{"noFollow":false,"noIndex":false}},"flexZone":{"flexComponents":[{"componentType":"paragraph","richBody":{"value":"<p>So you know:</p><ul><li>Whether you can afford that festival ticket</li><li>How much you can spend while on holiday</li><li>Whether you&apos;ll have enough left over for your driving lessons</li><li>Whether you&apos;ll still have money left at the end of the month</li></ul>"},"title":"Why budgeting is useful"},{"componentType":"paragraph","richBody":{"value":"<ol><li><strong>See what&apos;s coming in</strong>: salary, student finance, benefits or income from a part-time job</li><li><strong>Subtract your fixed expenses</strong>: rent, phone bills, gym membership and insurance</li><li><strong>See what&apos;s left over</strong>: This is the amount you can use for fun activities, saving or unexpected expenses</li></ol>"},"title":"Budgeting in 3 steps:"},{"componentType":"paragraph","richBody":{"value":"<p>Next, decide how you want to spend your money. A useful guideline is the 50-30-20 rule:</p><ul><li>50% for essentials and fixed expenses</li><li>30% for leisure and personal spending</li><li>20% for saving</li></ul><p>Think about what&apos;s important to you. Would you rather spend money on takeaway food or a festival? On shared transport or a holiday? Try to put some money aside regularly for an emergency fund or a savings goal.</p>"},"title":"Divide your money wisely"},{"componentType":"paragraph","richBody":{"value":"<p>The &apos;<a data-type=\"internal\" href=\"/en/personal/digital-banking/your-app/budgets/budgets\">Budgets</a>&apos;-feature in the ING App helps you set spending limits for your spending categories and shows you how much you still have available after each purchase.</p><p>You can find Budgets by following these steps:</p><ul><li>Open the Insights tab in your ING App</li><li>Select Set budget and choose one of the spending categories</li><li>Enter a maximum amount and select Set to save your budget</li></ul>"},"title":"Budgeting in the ING App"},{"componentType":"paragraph","richBody":{"value":"<p>Do you want to start planning your money, but could you use some extra support? Schedule a free <a href=\"https://www.ing.nl/particulier/financial-wellbeing/inzichtgesprek\">Insight conversation session</a> with a financial coach</p>"},"title":"Need a little extra help?"},{"componentType":"paragraph","richBody":{"value":"<p>This question is part of the content series Your money, your choice. <a href=\"https://www.youtube.com/watch?v=SkLd0uZrZpM\">You can find the episode about budgeting here.</a></p>"}}]},"hasMacro":false,"id":"c470377f-8a13-4dbc-b729-fe8632d7e776","localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Your financial health","url":"/en/personal/financial-health"}},"componentType":"productHeader","coreHeader":{"body":"Want to know whether that holiday, new phone or festival ticket fits within your budget? It helps to know how much money is coming in and going out each month. Creating a budget helps you make conscious spending decisions, so you can avoid surprises at the end of the month.","headerImage":{"extension":"jpg","original":"https://assets.ing.com/m/53453f6cd6ff7435/original/Jouw-geld-jouw-keuze-Portret-2.jpg","publishedAt":"2024-09-07T18:21:31Z","transformBaseUrl":"https://assets.ing.com/transform/b0f2939f-f562-434c-86fa-e6bb64d86bae/Jouw-geld-jouw-keuze-Portret-2","type":"image","updatedAt":"2024-09-07T18:23:01Z","width":3000},"title":"Know how much you can spend"}},"publishDate":"2026-10-19T13:27:48.925+02:00"}}