Budget Calculator
Calculator
Your numbers
After taxes — what actually reaches your account.
Results
Total spending
$1,500
75% of income
Remaining
$200
Not yet assigned
Savings rate
15%
$300 a month
- Spending $1,500
- Savings $300
- Remaining $200
| Category | Amount | Share of income |
|---|---|---|
| Housing | $700 | 35% |
| Transportation | $200 | 10% |
| Food | $350 | 18% |
| Entertainment | $150 | 8% |
| Other expenses | $100 | 5% |
| Savings | $300 | 15% |
Educational calculator, not financial advice. Results are hypothetical estimates based on the numbers you enter.
How to make a budget with this calculator
- Start with your take-home pay: what actually lands in your account after taxes, not your hourly rate times your hours.
- Fill in what you spend in a typical month. If you're not sure, scroll through last month in your bank app.
- Pick a savings amount first and treat it like a bill you pay yourself.
- Look at Remaining. If it's positive, give that money a job. If it's negative, you're planning to spend more than you earn.
Example: a budget for a part-time job
Maya works 15 hours a week at $12 an hour. That's about $780 a month before taxes. After Social Security and Medicare come out, she takes home about $720. She lives at home in Texas, which has no state income tax, so her housing is $0.
She spends $100 on gas, $120 on food and eating out, $80 on entertainment, and $60 on everything else. She saves $200 a month, a savings rate of about 28%. That leaves $160 unassigned, which she decides to add to her savings for a car.
What's a good savings rate?
A common guideline is the 50/30/20 rule: about half your income on needs, 30% on wants, and 20% on savings. If you live at home and your family covers rent and groceries, you can often save much more than 20%. Building that habit now is what the Budgeting lesson is about.
Questions
- What's the difference between gross pay and take-home pay?
- Gross pay is what you earn before anything comes out. Take-home pay is what's left after taxes and other deductions. Always budget with take-home pay. The Paycheck Calculator shows the difference.
- Why is savings separate from spending?
- So you can see your savings rate at a glance. Savings isn't money you've lost; it's money you've kept.
- What if my income changes every month?
- Budget with your lowest month. Anything you earn above that can go straight to savings.
How the math works
- Total spending adds up housing, transportation, food, entertainment, and other expenses.
- Savings is counted separately — it's money you're keeping, not spending.
- Remaining = income − spending − savings. Savings rate = savings ÷ income.
- Use take-home pay (after taxes) as your income.