Monthly Budget Calculator
Free monthly budget calculator — plan income, fixed costs, and variable spending. Tracks savings rate and compares against 50/30/20 benchmarks.
Disclaimer: This tool provides estimates for informational purposes only and does not constitute financial, tax, or legal advice. Results may vary based on your specific circumstances. Always consult a qualified professional before making financial decisions.
The Monthly Budget Calculator helps you plan your income and spending across categories and see how your allocation compares to common budgeting benchmarks. The most widely used is the 50/30/20 rule: 50% of after-tax income for needs (housing, food, utilities, transport), 30% for wants (dining out, entertainment, subscriptions), and 20% for savings and debt repayment.
Enter your take-home monthly income and your expected spending in each category. The tool totals everything up, calculates your surplus or deficit, and shows your percentage split side by side with the benchmark. You can see immediately whether your housing costs are consuming too much of your income, whether your savings rate is where it needs to be, or where you have room to adjust.
This tool is for freelancers and self-employed individuals who do not have a fixed monthly income, as well as salaried employees who want to understand where their money goes each month. Irregular earners can use the average of the past three months as their income figure.
The 50/30/20 rule is a starting point, not a rule. Someone in an expensive city might spend 60% on needs and have less room for wants. Someone with student debt might prioritize the 20% savings bucket toward debt repayment first. The value of this tool is not hitting a target percentage — it is seeing your actual spending clearly so you can make deliberate choices.
Your budget entries are saved in your browser's local storage and are there when you return on the same device. Nothing is sent to a server, and no account is required. The data lives only in your browser.
Frequently Asked Questions
- Does the budget save between visits?
Yes. Your budget entries are saved in your browser\
- What is the 50/30/20 rule?
50% of after-tax income goes to needs (rent, groceries, utilities), 30% to wants (entertainment, dining out, subscriptions), and 20% to savings and debt repayment. It is a guideline, not a rule.
- Can I add custom budget categories?
Yes. The categories list includes the most common ones, and there is an option to add custom line items for anything that does not fit the defaults.
- Is there a free monthly budget calculator?
Yes. This personal budget calculator is completely free. Enter income, fixed expenses, and variable spending to see your monthly budget breakdown, savings rate, and 50/30/20 comparison. No account needed.
- What is the 50/30/20 budget rule?
50% of after-tax income goes to needs (housing, food, utilities), 30% to wants (entertainment, dining, hobbies), and 20% to savings and debt repayment. The calculator compares your actual spending against these benchmarks.
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