Budget Calculator
Calculate your monthly budget surplus or deficit. Track income vs expenses across all categories and see your savings rate and housing ratio.
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Monthly Surplus / Deficit
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Total Monthly Expenses —
Savings Rate —
Housing Ratio —
Annual Surplus / Deficit —
Extended More scenarios, charts & detailed breakdown ▾
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20% Savings Target
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50% Needs Target —
30% Wants Target —
Annual Savings if Followed —
Professional Full parameters & maximum detail ▾
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Income
Total Monthly Income —
Expense Categories
Total Housing Costs —
Total Food Costs —
Transportation Costs —
Lifestyle & Entertainment —
Total Monthly Expenses —
Budget Health
Monthly Surplus / Deficit —
Annual Surplus / Deficit —
Savings Rate —
Housing Ratio —
Debt-to-Income Ratio —
50/30/20 Tracker
Needs (50/30/20 tracker) —
Wants % —
How to Use This Calculator
- Enter your Monthly Take-Home Income — after-tax pay.
- Enter expenses in each category — use your last month's bank/card statements for accuracy.
- Expand More Options for healthcare, entertainment, and debt payment fields.
- Review your Monthly Surplus, Savings Rate, and Housing Ratio.
Formula
Monthly Surplus = Income − Total Expenses
Savings Rate = Savings ÷ Income × 100
Housing Ratio = Housing ÷ Income × 100
Example
Example: $5,000/month income, $4,000 total expenses.
- Housing ($1,500): 30% of income ✓
- Savings ($500): 10% savings rate
- Monthly Surplus: $1,000
- Annual Surplus: $12,000
Frequently Asked Questions
- 50% of after-tax income goes to needs (housing, food, utilities), 30% to wants (entertainment, dining out), and 20% to savings and debt payoff. It is a simple framework, but allocations can be adjusted for your situation.
- The standard recommendation is to keep housing costs below 28–30% of gross income, or below 25–30% of take-home pay. In high-cost cities, many people spend 35–40%. Try to stay under 30% to leave room for other goals.
- Financial advisors typically recommend saving 15–20% of gross income for retirement. A 10% savings rate is considered the minimum. Higher earners can often save 30–50%+ and achieve financial independence faster.
- Start by tracking all spending for one month. Categorize expenses as fixed (rent, car payment) and variable (food, entertainment). Use the 50/30/20 rule as a starting point, then adjust based on your actual spending patterns.
- Priority order for surplus: (1) Build a $1,000 emergency fund, (2) Get full employer 401(k) match, (3) Pay off high-interest debt, (4) Build 3–6 month emergency fund, (5) Max out tax-advantaged accounts, (6) Invest in taxable accounts.
Related Calculators
Sources & References (5) ▾
- CFPB — Making a Budget — Consumer Financial Protection Bureau
- Bureau of Labor Statistics — Consumer Expenditure Survey — U.S. Bureau of Labor Statistics
- FTC — Budgeting and Money Management — Federal Trade Commission
- FDIC — Money Smart Budgeting Module — Federal Deposit Insurance Corporation
- Department of Labor — Financial Literacy Resources — U.S. Department of Labor