Budget Calculator

Plan a monthly budget by expense category and compare with the 50/30/20 rule.

Monthly Income

Expenses

Total Income

$5,000.00

Total Expenses

$1,750.00

Remaining

$3,250.00

50/30/20 Rule

Needs (50%)35.0%

Wants (30%)30.0%

Savings (20%)20.0%

What is a Budget Calculator?

Plan your monthly budget with income and expense categories. See where your money goes and compare with the 50/30/20 rule.

How to Use

Using the budget calculator is very simple:

Enter your values in the input fields
Click the calculate button
View the results instantly

Tips

Double-check your inputs for accurate results
This tool is for estimation - consult a professional for important decisions
Save your results for future reference

Frequently Asked Questions

What is the 50/30/20 rule?+

The 50/30/20 rule suggests: 50% to needs (housing, utilities, groceries), 30% to wants (entertainment, dining out), and 20% to savings and debt repayment. It's a starting point for a balanced budget.

How do I track expenses?+

Record every transaction for a month, use bank statements, or try a budgeting app. Categorize spending (housing, food, transportation). Identify areas of overspending and adjust.

How often should I review my budget?+

Review and adjust monthly. Life changes (new job, moving, a baby) need immediate updates. An annual review ensures your budget stays aligned with long-term goals.

What if my income is irregular?+

Use your lowest monthly income as the base. Allocate extra income to savings and debt. Build an emergency fund (3-6 months of expenses) for low-income months.