🧾 Monthly Expense & Budget Planner Tool
Enter your income and monthly expenses above to see your budget breakdown and savings rate.
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How Do I Make a Monthly Budget?
List your monthly take-home income, then your spending in each category: rent, food, transport, bills, loans and the rest. Income minus expenses is what you can save. The 50/30/20 rule is a simple target: about 50% on needs, 30% on wants and 20% on savings. Enter your figures above to see your savings rate.
How to Use the Budget Calculator
- Enter your monthly income after tax.
- Fill in what you actually spend in each of the ten categories. Use last month's bank statement rather than guesses.
- Read your total expenses, money left over, savings rate and yearly savings, plus a chart of where the money goes.
Example: on 100,000 a month, spending 30,000 on rent, 20,000 on food, 8,000 on transport, 7,000 on bills, 10,000 on entertainment and 5,000 on a loan leaves 20,000. That's a 20% savings rate and 240,000 a year.
The 50/30/20 Rule
The rule was popularised by Elizabeth Warren and Amelia Warren Tyagi in their 2005 book All Your Worth. It splits after-tax income into three parts:
- 50% needs: rent, groceries, utilities, transport to work, minimum loan payments.
- 30% wants: eating out, entertainment, non-essential shopping, holidays.
- 20% savings: emergency fund, investments and extra debt repayment.
| Monthly income | Needs 50% | Wants 30% | Savings 20% |
|---|---|---|---|
| 50,000 | 25,000 | 15,000 | 10,000 |
| 100,000 | 50,000 | 30,000 | 20,000 |
| 150,000 | 75,000 | 45,000 | 30,000 |
| 250,000 | 125,000 | 75,000 | 50,000 |
It's a starting point, not a law. When rent and bills take more than half your income, a 60/30/10 or 70/20/10 split is more realistic; the aim is to save something every month and raise it over time.
Budgeting on an Irregular Income
If your income changes from month to month, as with freelance, commission or seasonal work, build the budget on your lowest normal month from the past 6 to 12 months. In better months, send the extra straight to savings or debt instead of raising your spending.
Common Budgeting Mistakes
- Forgetting yearly costs such as insurance, school fees, subscriptions and festivals. Divide them by 12 and include them every month.
- Budgeting with guesses instead of real bank-statement figures.
- Setting a savings target you can't keep, then giving up after a few weeks.
Want to track every month? Use the 12-month budget planner spreadsheet. Turn your savings into a target with the savings goal calculator, see where small habits go with the subscription cost calculator, and check a loan fits your budget with the EMI calculator. This tool gives estimates, not financial advice.
How the Monthly Budget Calculator Works
Your monthly income is compared with the total of your expenses: income minus expenses is what you save, and savings divided by income is your savings rate. The yearly figure is the monthly saving multiplied by 12. You can then compare your split with the 50/30/20 guideline: about half of after-tax income for needs, 30% for wants and 20% for saving.
Who Uses the Monthly Budget Calculator?
- First budget: see where money goes in one month before trying a full-year planner.
- After a pay change: check how much more you can save with a new salary.
- Couples: agree on a monthly spending plan together.
How the Monthly Budget Calculator Saves You Time
A budget spreadsheet needs categories and formulas set up first. This calculator gives your savings and savings rate as soon as you enter the numbers.
Frequently Asked Questions
What is the 50/30/20 budget rule?
How do I calculate my monthly budget?
What is a good savings rate?
What expenses do people forget to include in a budget?
Is a loan EMI a need or savings?
What is the 60/30/10 budget rule?
How is this different from the 12-month budget planner?
Last updated: September 2026