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See where your money goes each month. Enter your income and expenses to track spending, find ways to save, and understand your monthly budget.

Budget Calculator

How to Use This Budget Calculator

This calculator helps you see where your money goes each month and how much you may have left after expenses.

1. Enter your monthly income
Add your total monthly take-home income, including salary, side income, or other regular earnings.

2. Add your essential expenses
Enter regular costs such as housing, utilities, groceries, transport, and debt payments.

3. Add non-essential spending
Include entertainment, subscriptions, shopping, and other lifestyle expenses.

4. Review your results
The calculator will show your total expenses, money left over, estimated savings rate, and spending breakdown.

5. Adjust your budget
Try reducing different expenses to see how small changes could increase the amount you have available for saving, investing, or paying down debt.

Tip: Your budget doesn't have to be perfect. The goal is to understand where your money is going and make adjustments that work for you.

What Is a Budget Calculator?

A budget calculator helps you compare your monthly income and expenses to see where your money is going and how much you may have left for saving, investing, or paying down debt.

Why Budgeting Matters

A budget helps you understand where your money goes and make better decisions about how you use it.

When you compare your income and expenses, it becomes easier to spot unnecessary spending, rising costs, forgotten subscriptions, and areas where you could save more.

Budgeting isn't about cutting out everything you enjoy. It's about deciding where your money should go so you can cover your needs, work toward your goals, and feel more in control of your finances.

The 50/30/20 Budget Rule — A Simple Starting Framework

The 50/30/20 rule is a simple way to think about how you might divide your after-tax income. It isn't a strict rule, but it can be a useful starting point.

50% — Needs
Essential expenses such as housing, groceries, utilities, transport, insurance, and minimum debt payments.

30% — Wants
Non-essential spending such as dining out, entertainment, subscriptions, hobbies, shopping, and travel.

20% — Savings and extra debt payments
Money for your emergency fund, savings goals, investing, retirement, or paying extra toward debt.

How does your budget compare?
Use the Budget Calculator to see where your money is currently going. Don't worry if your percentages don't match 50/30/20 exactly — your ideal budget will depend on your income, expenses, location, and financial goals.

Not Sure How to Split Your Budget? Try the 50/30/20 Rule

Want to see how the 50/30/20 rule works with real numbers?

Watch the video below for a simple example showing how to divide your income between needs, wants and savings — then use the Budget Planner above to create a budget based on your own numbers.

Common Monthly Budget Categories

When building your budget, make sure you include both essential expenses and everyday lifestyle spending. Common categories include:

Housing
Rent or mortgage payments, home insurance, property fees, and basic maintenance.

Utilities
Electricity, gas, water, internet, and phone bills.

Groceries and household
Food, cleaning supplies, toiletries, and other household essentials.

Transport
Car payments, fuel, insurance, maintenance, parking, and public transport.

Debt payments
Credit cards, personal loans, buy-now-pay-later payments, and other debt repayments.

Insurance
Health, life, home, car, and other insurance premiums.

Subscriptions and memberships
Streaming services, apps, software, gym memberships, and other recurring charges.

Dining and entertainment
Restaurants, takeaways, hobbies, events, and other leisure spending.

Personal and family expenses
Clothing, personal care, childcare, education, medical costs, and other family expenses.

Savings and investing
Emergency fund contributions, savings goals, retirement contributions, and investments.

How to Reduce Expenses and Free Up Money in Your Budget

Once you know where your money is going, you can look for expenses that may be reduced without completely changing your lifestyle.

Audit your subscriptions
Review recurring charges and cancel subscriptions or memberships you no longer use.

Compare regular bills
Review utilities, insurance, phone, and internet costs periodically to see whether better-value options are available.

Plan your grocery spending
Meal planning, using a shopping list, and reducing food waste can help lower grocery costs.

Review discretionary spending
Look at dining out, entertainment, shopping, and other non-essential expenses for areas you could comfortably reduce.

Use the 24-hour rule
For unplanned non-essential purchases, consider waiting 24 hours before buying. This can help reduce impulse spending.

Redirect the savings
Money you free up can go toward an emergency fund, debt repayments, savings goals, or investing.

Popular Budgeting Methods — Which Works Best for You?

There is no single best way to budget. The right method is one that fits your income, spending habits, and financial goals.

50/30/20 method
Divide your after-tax income into roughly 50% needs, 30% wants, and 20% savings or extra debt repayments. A simple option for beginners.

Zero-based budgeting
Give every dollar a purpose, including bills, spending, savings, investing, and debt repayments. Best if you want more control over where your money goes.

Envelope method
Set a spending limit for different categories. Traditionally this uses cash envelopes, but you can also use separate accounts or digital budgeting tools.

Pay yourself first
Move money toward savings, investing, or extra debt repayments before spending the rest. This can work well if you prefer a simpler approach.

Which method suits you?
If you're new to budgeting, the 50/30/20 method can be a useful starting point. If you want more detailed control, zero-based budgeting may be a better fit.

Frequently Asked Questions

1. What is a budget calculator?
A budget calculator helps you compare your income with your expenses so you can see how much money you have left for saving, investing, debt repayments, or other financial goals.

2. How do I create a monthly budget?
Start with your monthly take-home income, then list your essential expenses, debt payments, savings, and non-essential spending. Subtract your total expenses from your income to see how much money remains.

3. How much of my income should I save?
There is no single amount that works for everyone. The 50/30/20 rule suggests putting around 20% of after-tax income toward savings and extra debt repayments, but you can adjust this based on your circumstances.

4. What is the 50/30/20 budget rule?
The 50/30/20 rule divides after-tax income into approximately 50% for needs, 30% for wants, and 20% for savings and extra debt repayments.

5. What expenses should I include in my budget?
Include housing, utilities, groceries, transport, insurance, debt payments, subscriptions, entertainment, personal spending, savings, and any other regular or occasional expenses.

6. What if my expenses are higher than my income?
If your expenses exceed your income, review your spending to identify costs that can be reduced or removed. Start with non-essential and recurring expenses before looking at larger fixed costs.

7. Should I use gross or take-home income for my budget?
For a personal monthly budget, take-home income is usually more useful because it represents the money you actually receive after taxes and other payroll deductions.

8. How often should I review my budget?
Reviewing your budget at least once a month can help you identify changes in income or spending. You should also update it after major changes such as a new job, pay rise, move, or new financial commitment.

Take Control of Your Money — Starting This Month

A budget is not a restriction — it’s a plan. Knowing where your money goes each month can help you make more informed decisions about spending, saving, and your financial goals.

Use this calculator to understand your current budget, then explore our other free tools to plan your next steps: