Use this budget calculator to compare your monthly income against your expenses to determine whether you have money left over or fall short.
Budget Calculator
Compare your monthly income and expenses to find your surplus.
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What Is a Monthly Budget?
A monthly budget is a breakdown of how much money comes in and how much goes out each month. It helps show whether your income covers your expenses and whether you’re running a surplus or a deficit.
Instead of guessing where money goes, a budget assigns dollar amounts to key categories such as housing, food, transportation, debt payments, and savings. The goal isn’t perfection.
The goal is visibility. When you can see the numbers clearly, it becomes easier to make informed adjustments.
A budget also provides an early warning when expenses begin to exceed income, giving you time to correct course before debt builds up.
What Is a Budget Calculator?
A budget calculator compares your monthly income against your expenses to determine whether you have money left over or fall short at the end of the month.
This budget calculator uses your gross income, subtracts taxes and deductions, and then adds up your living and discretionary expenses.
The result is a clear snapshot of your financial position, including your monthly surplus or deficit, annualized results, and savings rate. It’s designed for practical, day-to-day budgeting, not for long-term investing or forecasting.
How This Budget Calculator Works
This budget calculator starts by calculating your net monthly income. Net income is your gross income minus taxes and deductions.
Next, it totals your expenses across multiple categories, including housing, food, utilities, transportation, insurance, debt payments, savings, and other personal costs. Every category you enter contributes to your total monthly expenses.
The calculator then subtracts total expenses from net income to calculate your monthly surplus or deficit. A positive number means you’re spending less than you earn. A negative number means expenses exceed income.
The annualized surplus projects what that monthly result would look like over a full year, assuming your income and expenses remain steady. The savings rate shows how much of your income is being set aside or freed up each month.
Budget Formula Used in This Calculator
The math behind the calculator is straightforward:
Net Monthly Income = Gross Income − Taxes
Total Expenses = Sum of All Expense Categories
Monthly Surplus (Deficit) = Net Income − Total Expenses
Annualized Surplus = Monthly Surplus × 12
Savings Rate = Monthly Surplus ÷ Gross Income
These calculations update automatically as values change.
Key Budget Terms Explained
Gross Monthly Income
This is your total income before taxes or deductions. It includes wages, freelance income, and other recurring earnings.
Net Monthly Income
Net income is the amount available to spend after taxes and deductions are removed.
Fixed Expenses
Fixed expenses are recurring costs that typically stay the same each month, such as rent, insurance, and loan payments.
Variable Expenses
Variable expenses change from month to month. These include food, utilities, dining out, and personal spending.
Monthly Surplus or Deficit
This figure shows whether your income covers your expenses. A surplus means money remains after expenses. A deficit means spending exceeds income.
Savings Rate
The savings rate measures how much of your income is not being spent. Even a small positive rate can make a difference over time.
Bottom line
A budget gives you control. It helps prevent overspending, highlights problem areas, and makes savings goals more realistic. It also makes financial decisions easier, since you’re working with real numbers instead of estimates.
This budget calculator is built to provide a clear snapshot of your monthly finances. Results are estimates, but they offer a strong foundation for adjusting spending, increasing savings, or planning next steps.