Budget Calculator
Monthly Budget
Summary
| Monthly Income | — |
|---|---|
| Total Expenses | — |
| Remaining | — |
| Savings Rate | — |
Category Breakdown
| Category | Amount | % of Income |
|---|
How to Use This Budget Calculator
Most people know their rent and car payment but cannot tell you where the rest of the paycheck goes. I built this for the monthly reset: enter take-home income, assign realistic amounts to each category, and see immediately whether the math works or something needs to give.
- Enter monthly income. Take-home pay after taxes and payroll deductions.
- Fill in expense categories. Housing, food, transportation, utilities, debt payments, savings, entertainment, and other.
- Press Calculate. Review total expenses, remaining cash, savings rate, and category breakdown as percent of income.
Planning debt payoff? Use the Debt Payoff Calculator. Estimating loan payments for a new obligation? Try the Payment Calculator.
Budget Formulas and Practical Applications
A budget is income minus planned spending. Remaining shows whether you are living within means; savings rate tracks how much you set aside before discretionary spending.
Remaining income
Remaining = Income − Total Expenses
Income $5,000 with $3,850 in planned expenses leaves $1,150 remaining—or signals overspending if negative.
Savings rate
Savings Rate = Savings ÷ Income × 100
Saving $500 on $5,000 income is a 10% savings rate. The 50/30/20 guideline targets roughly 20% for savings and extra debt paydown combined.
Category percent of income
Category % = Category Amount ÷ Income × 100
Housing at $1,500 on $5,000 income is 30%—the upper end of the "needs" bucket in the 50/30/20 framework.
Frequently Asked Questions
What does remaining show?
Remaining equals monthly income minus total expenses across all categories. A negative number means spending exceeds income.
How is savings rate calculated?
Savings rate equals the savings category amount divided by monthly income times 100.
Should I use gross or net income?
Use take-home pay after taxes and payroll deductions for the most accurate monthly picture.
What categories are included?
Housing, food, transportation, utilities, debt payments, savings, entertainment, and other. Adjust amounts to match your household.
What is the 50/30/20 guideline?
A common budgeting framework: roughly 50 percent on needs, 30 percent on wants, 20 percent on savings and debt. Use the category breakdown to see how your plan compares.