A well-planned budget is the foundation of financial success. This calculator helps you allocate your income effectively, track expenses, and achieve your financial goals.
Allocate 50% of your income to necessities like housing, utilities, groceries, and transportation.
Use 30% for wants like entertainment, dining out, and personal care.
Dedicate 20% to savings, investments, and debt repayment.
Assign every dollar a specific purpose, ensuring your income minus expenses equals zero.
Allocate cash to different spending categories in physical envelopes to control spending.
Automatically transfer a portion of your income to savings before spending on other expenses.
Monitor your expenses regularly to identify areas where you can cut back.
Create achievable financial goals and break them down into smaller, manageable steps.
Aim to save 3-6 months of living expenses for unexpected situations.
This calculator provides estimates and recommendations based on general financial principles. Individual circumstances may vary, and it's important to adjust your budget based on your specific needs and goals.