Budget Calculator
Create and analyze your monthly budget to manage your finances effectively
Monthly Budget
Enter your monthly income and expenses
Expenses
Budget Analysis
Your budget breakdown and recommendations
About Budget Planning
Budget Guidelines
- • Housing: 30% or less of income
- • Transportation: 10-15% of income
- • Food: 10-15% of income
- • Savings: 20% or more of income
- • Entertainment: 5-10% of income
Budget Status
- • Healthy: More than 10% remaining income
- • Tight: Less than 10% remaining income
- • Over-budget: Spending more than income
Tips for Success
- • Track all expenses for accurate budgeting
- • Review and adjust your budget monthly
- • Build an emergency fund first
- • Automate savings contributions
Frequently Asked Questions
What is the 50/30/20 rule?▾
The 50/30/20 rule suggests spending 50% of take-home pay on needs, 30% on wants, and 20% on savings and debt repayment. It is a simple framework for a balanced budget.
How do I start budgeting?▾
Track your income and all spending for a month, categorize expenses, then set limits that align with your goals. Review and adjust each month as your situation changes.
What should a monthly budget include?▾
A monthly budget should include fixed costs (rent, utilities, subscriptions), variable costs (food, gas, entertainment), debt payments, savings contributions, and an emergency buffer.
What is a good savings rate?▾
Saving 20% of your income is a solid target. Saving more accelerates financial independence, while less than 10% makes it hard to build long-term security.