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England and Wales > Your Budget > Household Budget > Stage 4: Household Income

Stage 4: Household Income

Subsections : Business Budget |Household Budget |Interactive Budget Sheet |Cashflow Forecast |

This should include all the income coming into your household, including not only your drawings from the business (or your net wage if you are a director of a limited company) but also:

your husband's, wife's, or (not business) partner’s wages. Work out a monthly average of the normal take-home pay. Only include overtime if it is regular. Check that your local tax office has the right tax code;
any welfare benefit such as Jobseeker’s Allowance or Income Support;
any tax credits such as Working Tax Credit or Child Tax Credit;
contributions from other people, such as non-dependent children who live in your home and pay towards the household expenses (i.e. people over 16, unless in full-time education in which case up to 19). Make sure they pay what it costs to keep them. Also include any maintenance you may receive.

Go to Increasing your income to check whether you are receiving everything you are entitled to.

Go to Stage 5: Household Outgoings
Go back to Stage 1: Business Income
Go back to Stage 2: Business Costs
Go back to Stage 3: Drawings

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