Finance Tools

Budget Calculator

Calculate and track monthly budget with income, expenses, and savings. Free personal finance calculator for budget planning and money management.

Use Budget Calculator to get instant results without uploads or sign-ups. Everything runs securely in your browser for fast, reliable output.

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About this tool

Smart budget management is the foundation of financial health. Our Budget Calculator helps you track income, categorize expenses, and plan savings using proven budgeting principles like the 50/30/20 rule.

See detailed breakdowns of where your money goes, identify areas to cut spending, and ensure you're saving enough for future goals. Perfect for personal budgeting, household planning, or teaching financial literacy.

Usage examples

Average Budget

$4,000 income, $1,200 housing, $400 transport

Disposable: $2,400 | Savings Rate: 15% | Budget Status: Balanced

Tight Budget

$3,000 income, $1,500 housing, $500 other

Housing: 50% (High) | Savings: $200 | Recommendation: Reduce housing or increase income

How to use

  1. Enter your monthly income (after tax)
  2. Enter housing costs (rent/mortgage, utilities)
  3. Enter transportation expenses (car payment, gas, insurance)
  4. Add food and groceries budget
  5. Include other monthly expenses
  6. Enter desired savings amount
  7. View budget breakdown and recommendations

Benefits

  • Track all income and expenses
  • Calculate savings rate
  • Budget health score
  • Spending ratios by category
  • Disposable income calculation
  • Personalized recommendations

FAQs

What is the 50/30/20 budget rule?

50% for needs (housing, food, utilities, insurance), 30% for wants (entertainment, dining out, hobbies), 20% for savings and debt repayment. This simple rule helps balance essential spending, lifestyle choices, and future security. Adjust percentages based on your situation - high-cost areas may need 60/20/20.

How much should I save monthly?

Minimum 10-15% of income for beginners. Ideal: 20% or more for financial security. Priority order: 1) $1,000 starter emergency fund, 2) Employer 401k match, 3) High-interest debt, 4) 3-6 months emergency fund, 5) Retirement (15% of income), 6) Other goals. Start with what you can, increase 1% yearly.

How much should I spend on housing?

Maximum 30% of gross income recommended, 25% ideal. Includes rent/mortgage, property tax, insurance, utilities. High housing costs (>30%) limit savings and financial flexibility. If over 30%, consider roommates, downsizing, or increasing income. Never exceed 40% to avoid being "house poor."

What if my expenses exceed my income?

First, track every expense for 30 days to find overspending. Cut discretionary spending: subscriptions, dining out, entertainment. Negotiate bills (insurance, phone, internet). Increase income: side hustle, overtime, skill upgrade. Sell unused items. Consider debt consolidation if applicable. Build budget buffer gradually.

How do I create an emergency fund?

Start with $1,000 for minor emergencies. Then build 3-6 months of expenses (6-9 months if self-employed or single income). Keep in high-yield savings account (not investment). Automate monthly transfers. Use only for true emergencies: job loss, medical, major repairs. Rebuild after use. This prevents debt cycles.

Should I save or pay off debt first?

Depends on interest rates. Priority: 1) $1,000 emergency fund, 2) Employer retirement match (free money), 3) High-interest debt (>7% like credit cards), 4) Full emergency fund, 5) Medium-interest debt and retirement together, 6) Low-interest debt (<4% like mortgage) - minimum payments while investing more. Balance depends on risk tolerance.

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