- Enter your income - choose monthly, bi-weekly, weekly, or annual. The calculator converts it to monthly.
- List your expenses - add all regular monthly expenses. Edit the pre-filled categories or add your own.
- Review your surplus or deficit - the difference between income and expenses shows how much you have left or are short each month.
- Aim for a savings rate of at least 20% following the 50/30/20 rule.
Budget Calculator
Build a monthly budget by entering your income and expenses to see where your money goes.
Monthly Income
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Monthly Expenses
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| Monthly Income | $4,500.00 |
| Total Expenses | $3,400.00 |
| Monthly Surplus | $1,100.00 |
| Savings Rate | 24.4% |
50/30/20 Budget Rule
50% Needs: $2,250.00
30% Wants: $1,350.00
20% Savings: $900.00
How to Build a Monthly Budget
Frequently Asked Questions
The 50/30/20 rule splits after-tax income into three buckets: 50% for needs (rent/mortgage, utilities, groceries, minimum debt payments, transportation), 30% for wants (dining out, subscriptions, entertainment, vacations), and 20% for savings and extra debt payments. On a $5,000/month take-home salary, that means $2,500 for needs, $1,500 for wants, and $1,000 for savings. It is a starting framework, not a rigid rule.
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