Create and track your monthly budget with our comprehensive calculator. Input your income and expenses to see where your money goes and identify opportunities for savings.
How to Create an Effective Monthly Budget
Our budget calculator helps you:
- Track all income sources including salary, side hustles, and passive income
- Categorize expenses into fixed costs, variable spending, and savings
- Identify spending patterns and areas where you can cut costs
- Set realistic savings goals for emergency funds and long-term goals
Budgeting Best Practices
50/30/20 Rule: Allocate 50% to needs, 30% to wants, and 20% to savings.
Emergency Fund: Aim to save 3-6 months of expenses for unexpected costs.
Track Regularly: Review and adjust your budget monthly to stay on track.
Common Budget Categories
Essential categories to include in your budget:
- Housing costs (rent, mortgage, property taxes)
- Transportation (car payments, gas, public transit)
- Food and groceries (including dining out)
- Insurance (health, auto, home)
- Debt payments (credit cards, loans)
- Savings and investments