Budget Calculator
Create a simple monthly budget, organize your income and expenses, see how much money you have left, and build a realistic savings plan.
Build Your Monthly Budget
Enter your income and monthly expenses to see how your money is allocated.
Expense Breakdown
Free Budget Calculator
Our free budget calculator helps you organize your monthly income and expenses so you can understand where your money goes and how much you may have available for savings and other financial goals.
How to Use the Budget Calculator
- Enter your monthly income.
- Choose your currency.
- Enter your housing or rent costs.
- Add your food and grocery expenses.
- Enter transportation and bills.
- Add shopping, entertainment, health and debt payments.
- Enter any other monthly expenses.
- Click Calculate My Budget.
What Is a Monthly Budget?
A monthly budget is a plan for how you will use your income during a specific month. It helps you allocate money toward essential expenses, lifestyle spending, debt payments, and savings.
50/30/20 Budget Rule
The 50/30/20 budgeting method is a simple framework that divides after-tax income into three broad categories.
The 50/30/20 rule is a general guideline rather than a requirement. Your ideal budget may look different depending on your income, housing costs, debt, family situation, location and financial goals.
Budget Example
Why Create a Personal Budget?
- Understand where your money goes.
- Control unnecessary spending.
- Plan for monthly bills.
- Build an emergency fund.
- Work toward savings goals.
- Reduce financial stress.
- Make more intentional spending decisions.
How to Stick to a Budget
- Track your expenses regularly.
- Review your budget every month.
- Set realistic spending limits.
- Automate savings when possible.
- Separate needs from wants.
- Adjust your budget when your income or expenses change.
Frequently Asked Questions
What is a budget calculator?
A budget calculator is a tool that helps you compare your income with your monthly expenses and estimate how much money you may have left for savings or other financial goals.
What is the 50/30/20 budget rule?
The 50/30/20 rule is a budgeting framework that suggests allocating approximately 50% of income toward needs, 30% toward wants, and 20% toward savings and financial goals.
How much of my income should I save?
There is no single percentage that works for everyone. The amount you can save depends on your income, essential expenses, debt, financial goals and personal circumstances.
What if my expenses are higher than my income?
If your expenses exceed your income, review your spending categories and look for areas where expenses can be reduced. You may also need to review your income and financial priorities.
Can I use this as a monthly budget planner?
Yes. Enter your expected monthly income and expenses to create a simple overview of your monthly budget.
Should savings be included in a budget?
Yes. Including savings as part of your budget can help you make saving a regular part of your financial plan rather than something you only do with money left over.