Free budget calculator
List your income and your expenses, each as often as you actually pay them. The calculator turns everything into monthly and yearly amounts, shows what is left over and compares your spending with the popular 50/30/20 rule. The amounts below are only an example: replace them with your own.
Your income (after tax)
Your expenses
Free, no sign-up. Everything is worked out in your browser: nothing you type is sent or stored.
How to use this budget calculator
- Enter your income after tax and how often you are paid. If your pay changes, use an average month.
- Fill in your expenses. Give each one the frequency you actually pay it: groceries weekly, rent monthly, car insurance every six months, holidays yearly. The calculator converts every amount to a monthly figure, using 52 weeks, 26 bi-weekly payments or 24 twice-a-month payments a year.
- Put each expense in a group: Needs (things you must pay), Wants (things you choose) or Savings and debt.
- Check what is left and how your groups compare with the 50/30/20 rule.
What is the 50/30/20 rule?
The 50/30/20 rule is a simple starting point: about 50% of your after-tax income for needs such as housing, groceries, utilities, transportation, insurance and minimum debt payments; 30% for wants such as eating out, entertainment and shopping; and 20% for saving and paying down debt faster. It is a guide, not a law. In an expensive city, needs may take 60% for a while; the point is to see where the money goes and choose on purpose.
Frequently asked questions
How much of my income should go to savings?
A common target is 20% of after-tax income for savings and extra debt payments, but anything regular is a good start. Even 5% builds the habit. Increase it when your income grows or a debt is paid off.
Should I use my gross or net income?
Use net income, the money that actually reaches your bank account after tax and deductions. A budget is about the money you can spend.
How do I budget with an irregular income?
Use your lowest typical month, or an average of the last 6 to 12 months, as your income. In better months, move the extra into savings first.
Read the guides
- How to make a budget you will actually stick to
- 50/30/20, zero-based and envelope budgeting compared
- How to export a CSV from your bank and import it
Track the real numbers
Budget Dashboard turns your bank file into a real budget: spending by category, budgets by week, month, quarter or year, savings goals and a yearly review. It is free, needs no sign-up and keeps your data in your browser.
Open the free Budget Dashboard
More free calculators
- Pay and bill frequency converter – Turn hourly, weekly, bi-weekly, monthly or yearly amounts into every other period.
- Emergency fund calculator – How much to keep for emergencies (3 to 12 months of essentials) and how long it takes to build.
- Subscription cost calculator – Add up your subscriptions by month, year and ten years, and see what cancelling some would save.
These calculators give estimates for planning and learning. They are not financial, tax or legal advice, and real lenders, banks and tax rules can differ. Check the numbers with your lender or a qualified professional before you decide.
Published by Budget Dashboard. Questions or corrections? Contact us.