Budget Calculator
Take control of your finances with our comprehensive budget calculator. Track your income, manage expenses, set savings goals, and get insights into your spending patterns.
Monthly Income
Monthly Expenses
Fixed Expenses
Variable Expenses
Debt Payments
Savings & Investments
Budget Summary
Spending Breakdown
Budget Ratios
Budgeting Basics
A budget is a plan for how you'll spend your money each month. It helps you track income and expenses to reach your financial goals.
- Track Everything: Record all income and expenses for complete visibility
- Categorize Spending: Group expenses to identify patterns and opportunities
- Set Priorities: Distinguish between needs and wants
- Review Regularly: Update your budget monthly to stay on track
- Be Realistic: Set achievable goals that you can maintain
The 50/30/20 Rule
A popular budgeting framework that allocates your after-tax income:
Needs
Essential expenses like housing, utilities, groceries, minimum debt payments
Wants
Discretionary spending like dining out, entertainment, hobbies, subscriptions
Savings & Debt
Emergency fund, retirement savings, extra debt payments, investments
Money-Saving Tips
- Automate Savings: Set up automatic transfers to savings accounts
- Review Subscriptions: Cancel unused memberships and services
- Cook at Home: Meal planning can significantly reduce food costs
- Compare Prices: Shop around for insurance, utilities, and major purchases
- Use the 24-Hour Rule: Wait a day before making non-essential purchases
- Track Daily Expenses: Small purchases add up quickly
Budget FAQs
How much should I save for emergencies?
Aim for 3-6 months of essential expenses in an easily accessible savings account.
What if my expenses exceed my income?
Look for ways to increase income or reduce expenses. Start with discretionary spending and consider lifestyle changes.
How often should I review my budget?
Review monthly and adjust as needed. Major life changes may require more frequent updates.