Budget Planner
Take control of your finances with our monthly budget planner. Track your income and expenses to see where your money goes and find opportunities to save.
Calculator
Total Expenses
$3,600.00
Total Savings
$500.00
Remaining
$900.00
Savings Rate
10.0%
How It Works
A budget is a plan for how you'll spend your money each month. By tracking your income and expenses, you can ensure you're living within your means and putting money toward your financial goals.
The 50/30/20 rule is a popular budgeting framework: spend 50% of your income on needs, 30% on wants, and save 20%. Our budget planner helps you see how your current spending compares to these benchmarks.
Regular budgeting helps you identify wasteful spending, prioritize what matters most, and build wealth over time through consistent saving.
The Formula
Remaining = Income - Total Expenses | Savings Rate = (Savings / Income) × 100Total Expenses = sum of all expense categories. Remaining = what's left after all expenses and savings. Savings Rate = percentage of income saved.
Example
Scenario: You earn $5,000 per month and spend $1,500 on housing, $600 on food, $400 on transport, $300 on utilities, $200 on insurance, $300 on entertainment, $500 on savings, and $300 on other expenses.
Result: Total expenses are $4,100, leaving $900 remaining. Your savings rate is 10% — below the recommended 20%.
Tip: Try reducing entertainment and other discretionary spending to boost your savings rate toward the 20% target.