Monthly Budget Calculator
Plan your monthly budget by entering your income and key expense categories. The calculator shows your surplus, total expenses, savings rate, and how your spending lines up against the 50/30/20 rule.
Formula
Remaining = Income − Total Expenses; 50/30/20: Needs ≤ 50%, Wants ≤ 30%, Savings ≥ 20%
4,000 income with itemised expenses
Inputs
- Monthly Income: 4000
- Housing / Rent: 1200
- Food & Groceries: 600
- Transport: 300
- Utilities (Electricity, Gas, Water): 250
- Entertainment & Dining Out: 300
- Savings / Investments: 600
- Other Expenses: 250
Total expenses = 3,500, leaving a 500 surplus. Savings of 600 is a 15% savings rate, just under the 20% target of the 50/30/20 rule.
Frequently asked questions
How does this budget calculator work?
Enter your income and each spending category. It totals your expenses, shows your surplus or shortfall, and compares your spending to the 50/30/20 rule.
What is a good savings rate?
The 50/30/20 rule targets 20% of income toward savings and debt repayment. Higher is better if you can manage it.
What if my expenses exceed my income?
A negative surplus means you're overspending. Trim discretionary categories like entertainment first, then look at larger fixed costs.
How are needs and wants grouped?
Here, housing, food, transport, and utilities count as needs, while entertainment and other expenses count as wants.
Should I budget with net or gross income?
Use your take-home pay after tax, since that's the money actually available to allocate.