Add your income sources and expenses, then calculate your net balance, savings rate and projected annual net. Switch between monthly and annual views. Pre-loaded with 10 common budget categories — customise to fit your life.
Budget Calculator
Description
Type
Amount
How to Use the Budget Calculator
The calculator pre-loads 10 standard budget categories — 2 income rows and 8 expense rows. Enter the amounts for each category that applies to your situation, and delete the rows you don't need with the × button. Add new rows for any income or expense category not already listed. Choose Monthly to see your monthly balance and projected annual net, or Annual to enter and view yearly figures. Click Calculate to see your total income, total expenses, net balance and savings rate instantly.
Understanding Your Budget Results
Total Income is the sum of all rows marked as Income. Total Expenses is the sum of all Expense rows. Net Balance is income minus expenses — a positive figure means you are living within your means; a negative figure means you are spending more than you earn and need to cut costs or increase income. Savings Rate shows what percentage of your income you are saving. In Monthly mode, the Projected Annual Net multiplies your monthly net balance by 12 to show what you are on track to save or overspend in a year.
The 50/30/20 Budget Rule
One of the most widely used budgeting frameworks divides your after-tax income into three categories:
50%
Needs
Rent, utilities, groceries, transport, insurance — essentials you can't avoid
30%
Wants
Dining out, streaming, hobbies, travel — lifestyle choices you can reduce
20%
Savings
Emergency fund, investments, debt repayment — your financial future
The 50/30/20 rule is a starting point, not a rigid rule. High cost-of-living cities may push needs above 50%. High earners often target 30–40%+ savings rates. The key is knowing your numbers — which is exactly what this calculator gives you.
Real-World Budget Examples
Single Professional (Monthly)
Salary$4,500
Rent$1,400
Food & Dining$600
Transport$250
Other Expenses$850
Net: +$1,400 · Savings Rate: 31%
Family of Four (Monthly)
Combined Income$7,200
Mortgage$1,800
Groceries$900
Childcare$1,200
Other Expenses$1,600
Net: +$1,700 · Savings Rate: 24%
Frequently Asked Questions
A commonly recommended savings rate is 20% of net income, as popularized by the 50/30/20 rule. Rates above 30–40% dramatically accelerate financial independence. Even 10% is a strong starting point — far better than the average household rate of 3–6% in many Western countries.
Savings Rate = (Total Income − Total Expenses) ÷ Total Income × 100. If you earn $5,000 per month and spend $4,000, your savings rate is ($5,000 − $4,000) ÷ $5,000 × 100 = 20%.
The 50/30/20 rule divides after-tax income into: 50% for needs (rent, food, utilities), 30% for wants (dining out, entertainment), and 20% for savings and debt repayment. It is a simple, flexible framework for maintaining financial health.
A complete monthly budget should cover all income sources and all expense categories: housing (rent/mortgage), utilities, groceries, transport, insurance, subscriptions, dining out, personal care, debt repayments and savings. Capturing every category — even small ones — gives an accurate picture of your financial position.
The traditional guideline is to keep housing costs below 30% of gross income. Some advisors now suggest 25% of net income as a more conservative target, freeing up more money for savings, investing and other goals.