# Budget Calculator

URL: https://speedycalculator.com/calculators/finance/budget/
Last updated: 2026-10-25

> The budget calculator adds up your monthly income, savings and spending in every category – housing, utilities, food, transport, insurance, debt, health, childcare, entertainment and yearly costs – to show your monthly and annual balance and savings rate.

## Inputs

- Take-home salary (monthly)
- Other monthly income
- Yearly income (bonus, tax refund)
- Savings and investments (monthly)
- Retirement contributions (monthly, from take-home)
- Housing (rent or mortgage)
- Utilities, phone and internet
- Groceries
- Transportation (fuel, transit, car payment)
- Insurance
- Debt payments
- Health and personal care
- Childcare and education
- Entertainment and eating out
- Subscriptions
- Other monthly expenses
- Holidays (yearly)
- Gifts and celebrations (yearly)
- Car maintenance and registration (yearly)
- Other yearly expenses

## Results

- Total monthly income
- Total monthly spending
- Total monthly savings
- Monthly balance left over
- Annual balance
- Savings rate
- Housing as a share of income

## Formula

```
Monthly income = salary after tax + other monthly income + yearly income ÷ 12
Monthly spending = Σ monthly expenses + Σ yearly expenses ÷ 12
Balance = income − savings − spending
```

## Explanation

A budget tells your money where to go instead of wondering where it went. Track for a month or two to get accurate figures, then adjust categories. Yearly costs like insurance premiums, holidays and car repairs are easy to forget – divide them by 12.

### How to use the Budget Calculator

- **Take-home salary (monthly)**
- **Other monthly income**
- **Yearly income (bonus, tax refund)**
- **Savings and investments (monthly)**
- **Retirement contributions (monthly, from take-home)**
- **Housing (rent or mortgage)**
- **Utilities, phone and internet**
- **Groceries**
- **Transportation (fuel, transit, car payment)**
- **Insurance**
- **Debt payments**
- **Health and personal care**
- **Childcare and education**
- **Entertainment and eating out**
- **Subscriptions**
- **Other monthly expenses**
- **Holidays (yearly)**
- **Gifts and celebrations (yearly)**
- **Car maintenance and registration (yearly)**
- **Other yearly expenses**

Results update as you type, and every field accepts the units shown in its menu.

### How it works

Enter your income, planned savings, monthly expenses and yearly expenses.

### Tips

- Use your real spending from bank statements rather than guesses.
- Automate savings so they happen before you spend.
- Revisit your plan once a year or after any big life change.
- Keep an emergency fund before investing for long-term goals.

### Common mistakes to avoid

- Underestimating irregular expenses such as car repairs, gifts and annual bills.
- Ignoring inflation for long-term goals.
- Taking on high-interest debt to fund wants.

### Inputs explained

FieldWhat to enterTake-home salary (monthly)Amount in your currencyOther monthly incomeAmount in your currencyYearly income (bonus, tax refund)Amount in your currencySavings and investments (monthly)Amount in your currencyRetirement contributions (monthly, from take-home)Amount in your currencyHousing (rent or mortgage)Amount in your currencyUtilities, phone and internetAmount in your currencyGroceriesAmount in your currencyTransportation (fuel, transit, car payment)Amount in your currencyInsuranceAmount in your currencyDebt paymentsAmount in your currencyHealth and personal careAmount in your currencyChildcare and educationAmount in your currencyEntertainment and eating outAmount in your currencySubscriptionsAmount in your currencyOther monthly expensesAmount in your currencyHolidays (yearly)Amount in your currencyGifts and celebrations (yearly)Amount in your currencyCar maintenance and registration (yearly)Amount in your currencyOther yearly expensesAmount in your currency

### What each result means

- **Total monthly income** = [Take-home salary (monthly)] + [Other monthly income] + [Yearly income (bonus, tax refund)]÷12
- **Total monthly spending** = [Housing (rent or mortgage)] + [Utilities, phone and internet] + [Groceries] + [Transportation (fuel, transit, car payment)] + [Insurance] + [Debt payments] + [Health and personal care] + [Childcare and education] + [Entertainment and eating out] + [Subscriptions] + [Other monthly expenses] + ([Holidays (yearly)] + [Gifts and celebrations (yearly)] + [Car maintenance and registration (yearly)] + [Other yearly expenses])÷12
- **Total monthly savings** = [Savings and investments (monthly)] + [Retirement contributions (monthly, from take-home)]
- **Monthly balance left over** = [Total monthly income] - [Total monthly spending] - [Total monthly savings]
- **Annual balance** = [Monthly balance left over]×12
- **Savings rate** = ([Total monthly savings] + max([Monthly balance left over], 0))÷[Total monthly income]×100
- **Housing as a share of income** = [Housing (rent or mortgage)]÷[Total monthly income]×100

### Example values

How the main result changes when **Take-home salary** changes and everything else stays at the example values above:

Take-home salary (monthly)Monthly balance left over2,100-2,201.673,150-1,151.674,200-101.675,250948.336,3001,998.338,4004,098.33

## Worked example

Inputs — Take-home salary (monthly): $4,200; Other monthly income: $300; Yearly income (bonus, tax refund): $2,400; Savings and investments (monthly): $500; Retirement contributions (monthly, from take-home): $200; Housing (rent or mortgage): $1,500; Utilities, phone and internet: $280; Groceries: $550; Transportation (fuel, transit, car payment): $420; Insurance: $180; Debt payments: $250; Health and personal care: $120; Childcare and education: $0; Entertainment and eating out: $250; Subscriptions: $60; Other monthly expenses: $100; Holidays (yearly): $2,400; Gifts and celebrations (yearly): $800; Car maintenance and registration (yearly): $900; Other yearly expenses: $600.

Results — Total monthly income = $4,700.00; Total monthly spending = $4,101.67; Total monthly savings = $700.00; **Monthly balance left over = $-101.67**; Annual balance = $-1,220.00; Savings rate = 14.89 %; Housing as a share of income = 31.91 %.

## FAQ

**How do I start a budget?**
List your income, then every expense, then decide what to save first.

**What percentage of income should go to housing?**
Ideally 30% or less.

**What if my balance is negative?**
Cut wants first, then look at big fixed costs like housing and transport.

**What formula does the Budget Calculator use?**
Monthly income = salary after tax + other monthly income + yearly income ÷ 12.


## Sources

- [Consumer Financial Protection Bureau](https://www.consumerfinance.gov/)