Budget Calculator
Quick monthly budget calculator. Enter your income and expenses to see where you stand.
A budget is the foundation of every financial goal — from building an emergency fund to reaching FIRE. Yet most people don't know where their money goes each month. This quick budget calculator breaks down your income into major categories and instantly shows your savings rate, housing ratio, and remaining balance. It takes 2 minutes and might change your financial life.
Monthly: $5,000 income, $3,900 expenses. 1,100 remaining. Savings rate: 10.0%. Housing: 30.0% of income.
Budget overview
Total expenses
$3,900
Remaining
$1,100
Savings rate
10.0%
Housing ratio
30.0%
How to use this calculator
Monthly after-tax income — Your take-home pay after all deductions. This is the money you actually have to spend.
Housing — Rent or mortgage payment. Should be under 30% of gross income (the 30% rule).
Food & groceries — All food spending: groceries, dining out, coffee, takeout. USDA Moderate plan: ~$400–500/person/month.
Savings & investments — All money you save or invest: emergency fund, 401(k), IRA, brokerage. Target: 15–20% minimum.
Real-world examples
$5K/month income, balanced budget
Housing $1,500 (30%), Food $500 (10%), Transport $400 (8%), Utilities $200 (4%), Insurance $300 (6%), Debt $200 (4%), Savings $500 (10%), Other $300 (6%). Remaining: $100. Savings rate: 10%.
$8K/month income, aggressive saver
Housing $2,000 (25%), Food $600 (7.5%), Transport $500 (6.3%), Savings $2,400 (30%). Remaining: $2,500 for other categories. Savings rate: 30% — on track for FIRE in ~17 years.
$3.5K/month income, tight budget
Housing $1,200 (34% — over the 30% rule), Food $400 (11%), Transport $300 (9%), Savings $200 (5.7%). Remaining: $1,400 for all other expenses. Consider reducing housing costs.
Formula & Methodology
Savings rate
- Savings = Monthly savings and investments
- Income = Monthly after-tax income
Housing ratio
Target: under 30%. Over 30% is considered 'cost-burdened' by HUD.
Assumptions & limitations
- Uses after-tax (net) income. Gross income budgeting requires a different approach.
- Categories are simplified. For detailed tracking, use the Budget Planner.
- Doesn't account for irregular expenses (car repairs, medical bills). Budget 5–10% for these.
Frequently asked questions
What's a good savings rate?
15–20% is solid for most people. FIRE seekers aim for 30–50+. Even 10% puts you ahead of the median US household.
What if my housing exceeds 30%?
In high-cost cities, this is common. Options: increase income, get roommates, move to a cheaper area, or negotiate rent. Every 1% reduction in housing frees up cash for other goals.
Should I include retirement contributions?
Yes — include 401(k) contributions in savings. If they're deducted from your paycheck before you see the money, add them back to both income and savings for an accurate savings rate.
How often should I budget?
Monthly is standard. Review your budget at the start of each month and adjust as needed. The first 3 months are the hardest — it gets easier as you learn your patterns.