Budget Planner Calculator

Plan your monthly budget, categorize expenses, and visualize your spending patterns to better manage your finances.

Important Disclaimer: This calculator is for informational purposes only and should not be considered as financial advice. Your actual financial situation may vary based on individual circumstances. Consult with a qualified financial advisor for personalized guidance.

Income

Income Source 1

Essential Expenses

Housing

Utilities

Food & Groceries

Transport

Discretionary Expenses

Entertainment

Dining Out

Shopping

Savings & Investments

Emergency Fund

Long-term Savings

Budgeting Tips

The 50/30/20 Rule

A simple budgeting method that suggests allocating your after-tax income as follows:

  • 50% for essential expenses: Housing, food, utilities, transport, debt payments, healthcare
  • 30% for discretionary spending: Entertainment, dining out, hobbies, subscription services
  • 20% for savings and investments: Emergency fund, retirement, future goals

This is a general guideline and can be adjusted based on your personal circumstances and financial goals.

Tips for Sticking to Your Budget

  • Track your spending: Keep a record of all expenses to identify patterns and areas for improvement
  • Automate savings: Set up automatic transfers to savings accounts on payday
  • Use the envelope system: Allocate cash to different spending categories to limit overspending
  • Review regularly: Assess your budget monthly and adjust as needed
  • Prioritize paying off high-interest debt: Focus on eliminating debts with the highest interest rates first
  • Build an emergency fund: Aim for 3-6 months of essential expenses saved for unexpected events
  • Plan for irregular expenses: Set aside money each month for annual or quarterly bills

About This Calculator

This budget planner helps you categorize and plan your monthly expenses, visualize your spending patterns, and calculate discretionary income after essential expenses.

What's Included

  • Income tracker for multiple sources of income
  • Expense categorization (essential, discretionary, savings)
  • Visual breakdown of spending with charts and progress bars
  • Comparison with the 50/30/20 budgeting rule
  • Calculation of discretionary income and monthly balance
  • Budgeting tips and guidelines

Data Privacy

All calculations are performed locally in your web browser. Your financial data is not sent to any server or stored beyond your current session unless you save it locally.

Remember that budgeting is an ongoing process. Regularly review and adjust your budget as your income, expenses, and financial goals change over time.