Monthly Budget Calculator

This calculator is designed to be simple and straightforward. You don't need any financial background or special knowledge — just your monthly income and expense numbers. If you prefer a percentage-based approach, try our 50/30/20 Budget Calculator instead.

1. Enter your total monthly income after taxes. This is your take-home pay, not your gross salary. If you have multiple income sources, add them together. For irregular income, use your average monthly amount. If you're not sure of your take-home pay, use our Take-Home Pay Calculator first.
2. Add your expenses for each category. Start with the essentials like housing, utilities, and groceries. Then add transportation, insurance, and other regular expenses. Don't worry about being perfect — you can always adjust later.
3. Click Calculate Budget to see your results. The calculator will show you how much money you have left over, your savings rate, and a visual breakdown of where your money goes.
4. Review your results carefully. Look at how much money you have left and your savings rate. If your expenses exceed your income, the calculator will show you exactly how much you're overspending.
5. Adjust categories to explore different scenarios.What happens if you reduce dining out by $50? What if you find a way to save $30 on utilities? Small changes can add up quickly.

Your data is automatically saved in your browser, so you can come back anytime and pick up where you left off. No need to re-enter everything each time you want to check your budget.

Once you understand your monthly budget, you can take your financial planning to the next level. Here are some natural next steps:

• Build an emergency fund: Aim for 3-6 months of expenses saved in an easily accessible account. This gives you a safety net for unexpected expenses or income loss.
• Pay down high-interest debt: If you have credit card debt or other high-interest loans, use your budget surplus to pay them off faster. The interest you save is like earning a guaranteed return.
• Set specific savings goals: Whether it's a vacation, down payment, or retirement, having a clear goal makes saving easier. Break large goals into monthly amounts.
• Review and adjust regularly: Your budget should evolve with your life. Review it monthly at first, then quarterly as you get more comfortable.

We're building more tools to help you with these next steps, including calculators for debt payoff, emergency savings goals, and retirement planning. Check back regularly for new resources.

For more in-depth guidance on budgeting and personal finance, explore our financial guides. You'll find step-by-step instructions on topics like getting started with budgeting, creating a monthly budget, tracking your spending, and avoiding common budget mistakes. You can also browse all our free financial tools including our 50/30/20 Budget Calculator to find calculators that match your current financial goals.