Enter your income and expenses to get a clear picture of your monthly cash flow. See where your money goes, identify areas to save, and take control of your finances.
Monthly take-home pay
Freelance, rental, etc.
Total Income
$5,000.00
Total Expenses
$3,100.00
Monthly Surplus
$1,900.00
You are saving 10.0% of your income ($500/mo). Increase by $500/mo to reach the recommended 20%.
A monthly budget is the most powerful tool for reaching your financial goals. It gives you a clear picture of where your money goes, highlights areas where you can save, and helps you prioritize spending that aligns with your values. People who budget consistently report lower financial stress and higher savings rates.
Start by listing all your income sources, then track and categorize your expenses for a typical month. Subtract expenses from income to see your surplus or shortfall. Adjust spending in flexible categories until your budget balances and includes savings contributions.
A widely recommended guideline is to spend no more than 28-30% of your gross monthly income on housing costs (rent or mortgage, property taxes, and insurance). If your housing costs exceed this, look for ways to reduce other expenses to compensate.
Aim to save at least 20% of your take-home income, following the 50/30/20 rule. If that feels out of reach, start with whatever you can — even 5-10% — and increase it gradually. The most important step is to make saving automatic and consistent.
First, look for non-essential expenses you can reduce or eliminate — subscriptions, dining out, and shopping are common areas with room to cut. Next, explore ways to increase income through overtime, a side job, or selling unused items. If you're still short, consider whether larger changes like downsizing housing or trading in a car are feasible.
Review your budget monthly to compare actual spending against your plan. Do a more thorough review quarterly to adjust categories as your life changes. Major life events like a new job, move, or new family member should also trigger a full budget revision.
50/30/20 Budget Calculator
Enter your take-home pay to see how the 50/30/20 budgeting rule applies to your income. This popular framework divides your after-tax income into three categories: needs, wants, and savings.
Zero-Based Budget Calculator
Give every dollar a job. Enter your income and assign amounts to each budget category until you reach zero — the foundation of intentional spending.