Accurate Budget Calculator

Monthly budget calculator shows allocation of expenses to income. Tracks six categories of income and seven categories of expenses.

• Calculates expense to income ratio.
• Calculates total & percentage spent for each category.
• Print your budget
• Save your inputs for later recall.
        (Easily track changes in your budget.)

Answers the question: “Where does the money go?”

Click to Try It Now!

Why create a personal or family budget?

First, a budget is a tool that shows whether you will spend more than you earn. To create a budget, you project your income and subtract your estimated expenses. The budget calculator makes this calculation simple. Enter values for the relevant inputs and click the “Calc” button. Then review the Summary section for the results.

If income is greater than expenses, you are on a sustainable path. If expenses are greater than income, adjustments will be necessary.

You may think, “I do not need a calculator to see if I am spending more than I earn.” That may be true. However, there is another important purpose for a budget.

Budgets help you reach your goals.

The budget calculator shows each category as a percentage of total expenses. If your goal is to save for a home down payment, the calculator helps identify areas where you can make changes so you can move toward that goal.

Budget Details

By creating a budget, families can see where their money goes and identify areas where they can reduce spending. A budget can also help families save for larger purchases, such as a down payment on a home or a family vacation.

To create a budget, families can use a budget calculator that accounts for income from multiple sources, such as gross salaries, pensions, interest income, real estate income, other income, and loan advances. This calculator helps families determine total monthly income and allocate funds to different categories of expenses.

The calculator tracks expenses in seven groups: shelter, transportation, education, personal care, food & clothing, recreation, and other costs. Shelter expenses include rent or mortgage payments, property taxes, and home insurance. Transportation expenses include car payments, gas, insurance, and maintenance. Education expenses include tuition, school supplies, and educational materials. Personal care expenses include health insurance, medication, and personal grooming products. Food & clothing expenses include groceries and clothing. Recreation expenses include entertainment, travel, and hobbies. Other expenses include items that do not fit in the other categories, such as charitable donations or unexpected costs.

The file save feature allows the user to save a budget and recall it later. This makes tracking changes and updating the budget straightforward. Save each month’s budget to a separate file.

The user can also print a budget to a PDF file using the calculator’s print feature. Families may want to share a budget with a financial planner, and attorneys may need a budget for divorce or bankruptcy court proceedings.