Budget Calculator
Track your monthly income and expenses to see where your money goes.
Budget Summary
Spending Breakdown
What is a Budget Calculator?
A budget calculator is a personal finance tool that compares your monthly income against your expenses. It reveals how much you are saving or overspending and breaks down costs by category so you can identify areas to cut back.
Creating a budget is one of the most effective ways to take control of your finances. This calculator simplifies the process by doing the math for you and presenting a clear visual summary of your spending habits.
How to Use
- Enter your total monthly after-tax income.
- Fill in your typical spending for each category.
- Include planned savings as an expense to ensure you pay yourself first.
- Click Calculate to see your balance, savings rate, and category breakdown.
Frequently Asked Questions
What is a good savings rate?
Financial experts often recommend saving at least 20% of your income. The exact target depends on your goals, debt, and cost of living.
What if my expenses exceed my income?
The calculator will display a warning and a negative balance. Review your discretionary spending categories like entertainment and dining to find reductions.
Should I use gross or net income?
Use your net (take-home) income for the most accurate budget, since that is what you actually have available to spend.
Can I add custom categories?
This version includes common categories. You can use the Other field for any expenses that do not fit the predefined categories.