On March 23, 5 Live will report from Chorley in Lancashire and Falmouth in Cornwall to gain a greater understanding of how the decisions made in Westminster will impact people's daily lives.
Richard Bacon will present the latest news as the Budget is revealed from noon and 5 Live Drive's Peter Allen will be live from Westminster to sum up the day's events from 4pm.
On Thursday, the station will continue to report from Chorley and Falmouth, gaining reaction from people on the streets to the Budget announcement.
Over the course of the year, 5 Live will continue to follow the lives of people in both towns to see how they are coping with the new financial pressures.
Commenting on the project, Radio 5 Live's head of news Stephen Mawhinney said: "We're 'adopting' two towns for the next year, to follow the lives of the people who live there.
"We chose Chorley and Falmouth so we can look at how two places, 350 miles apart and with very different economies, are affected by the same policies. Who's struggling and who's doing well?"
Mawhinney added: "We'll be in regular contact with the people of Chorley and Falmouth, asking for their thoughts and experiences on everything from interest rates and jobs to the price of food, the prices of fuel, and the price of a university education - everything which affects how they live and how much money they have in their back pocket."