Budget Calculator
Create a simple monthly budget.
Enter your income and expenses to see how much you can save each month and where your money goes.
How a monthly budget works:
A budget is the simplest and most powerful personal finance tool. It compares your total income against your total expenses to show whether you are saving money or overspending.
The formula:
Monthly Savings = Total Income − Total Expenses
The 50/30/20 rule (recommended budget split):
| Category | % of Income | What It Covers |
|---|---|---|
| Needs | 50% | Rent/mortgage, utilities, groceries, insurance, minimum debt payments |
| Wants | 30% | Dining out, entertainment, hobbies, subscriptions, shopping |
| Savings | 20% | Emergency fund, retirement, investments, extra debt payoff |
Worked example:
Monthly income: $4,000 after tax
- Needs (50%): $2,000: rent $1,200, groceries $400, utilities $200, insurance $200
- Wants (30%): $1,200: dining $300, entertainment $200, subscriptions $100, shopping $600
- Savings (20%): $800: emergency fund $400, retirement $400
If your expenses exceed income:
- First cut wants, subscriptions, dining out, shopping
- Then reduce needs, cheaper housing, lower grocery bill, shop for better insurance rates
- Then increase income, side hustle, negotiate a raise, freelance work
Key tip: Track your actual spending for one month before making a budget. Most people are surprised where their money really goes — small daily purchases often add up to hundreds per month.
Emergency fund target: Save 3–6 months of essential expenses before investing. This protects you from unexpected job loss, medical bills, or car repairs.
How we build and check this calculator
This calculator runs entirely in your browser, so the numbers you enter stay on your device. The math behind it is written by hand and tested against worked examples and standard references before the page goes live.
SuperGlobalCalculator is independently built and maintained. See how we build and verify our calculators.