Budget Calculator

Enter your monthly income and expenses to see your budget breakdown and monthly surplus or deficit.

Monthly Income
Monthly Salary (After Tax)
$
Spouse/Partner Income
$
Freelance/Side Income
$
Rental Income
$
Investment Income
$
Other Income
$
Monthly Expenses
Housing
Rent/Mortgage
$
Property Tax
$
HOA/Condo Fees
$
Home Insurance
$
Home Repairs
$
Other Housing
$
Transportation
Car Payment
$
Car Insurance
$
Gas
$
Parking/Tolls
$
Public Transit
$
Car Repairs
$
Other Transport
$
Food
Groceries
$
Dining Out
$
Coffee/Drinks
$
Other Food
$
Utilities
Electricity
$
Gas/Heating
$
Water
$
Internet
$
Phone
$
Cable/Streaming
$
Other Utilities
$
Healthcare
Health Insurance
$
Doctor/Dental/Vision
$
Medications
$
Gym/Fitness
$
Other Health
$
Personal
Clothing
$
Haircuts/Beauty
$
Subscriptions
$
Entertainment
$
Vacation
$
Gifts
$
Other Personal
$
Debt
Credit Card
$
Student Loan
$
Personal Loan
$
Other Debt
$
Savings
Emergency Fund
$
Retirement (401k/IRA)
$
Other Savings
$

Plan your monthly budget with our free budget calculator, based on the popular 50/30/20 rule for balancing needs, wants, and savings.

The 50/30/20 Rule

The 50/30/20 rule suggests allocating 50% of after-tax income to needs, 30% to wants, and 20% to savings and debt repayment.

How to Use This Calculator

  1. Enter your monthly after-tax income
  2. Review suggested amounts for needs, wants, and savings
  3. Optionally enter your actual expenses to compare against the suggested budget

Frequently Asked Questions

Is the 50/30/20 rule right for everyone?

It's a general guideline; those in high-cost-of-living areas may need to adjust the needs percentage higher.

What counts as a need vs a want?

Needs are essential expenses you can't avoid; wants are discretionary spending.

Should debt repayment count as savings or a need?

Minimum debt payments are typically treated as needs, while extra debt payments often fall under the savings/debt-repayment category.

How often should I revisit my budget?

Reviewing monthly is common, especially when income or major expenses change.