Budget Calculator

Build a monthly budget and see where your money goes.

Monthly Take Home Pay$Other Monthly Income$Other Annual Income$Annual Tax Return$

Total Monthly Income

$5,450

Total Monthly Expenses

$3,500

Total Annual Expenses (Monthly)

$583

Monthly Retirement/Savings

$1,200

Year	Income	Expenses	Retirement/Savings	Surplus/Shortfall
1	$65,400	$49,000	$14,400	$2,000
2	$67,362	$50,470	$14,832	$2,060
3	$69,383	$51,984	$15,277	$2,122
4	$71,464	$53,544	$15,735	$2,185
5	$73,608	$55,150	$16,207	$2,251
6	$75,817	$56,804	$16,694	$2,319
7	$78,091	$58,509	$17,194	$2,388
8	$80,434	$60,264	$17,710	$2,460
9	$82,847	$62,072	$18,241	$2,534
10	$85,332	$63,934	$18,789	$2,610
11	$87,892	$65,852	$19,352	$2,688
12	$90,529	$67,827	$19,933	$2,768
13	$93,245	$69,862	$20,531	$2,852
14	$96,042	$71,958	$21,147	$2,937
15	$98,923	$74,117	$21,781	$3,025
16	$101,891	$76,340	$22,435	$3,116
17	$104,948	$78,631	$23,108	$3,209
18	$108,096	$80,990	$23,801	$3,306
19	$111,339	$83,419	$24,515	$3,405
20	$114,679	$85,922	$25,250	$3,507
Total	$1,757,322	$1,316,648	$386,933	$53,741

Estimates only, not financial, tax, or legal advice. See our Terms and Privacy Policy.

A budget is only useful if it looks forward. This calculator does more than tally this month's income and expenses: it projects them years into the future, growing income, costs, and savings at their own rates, so you can see whether today's spending plan stays in surplus as life (and inflation) marches on.

Enter your income, expenses, and savings by category, and it builds a year-by-year forecast of your surplus or shortfall and your cumulative retirement savings, the building blocks of your net worth.

How does this calculator work?

Enter your income (monthly take-home pay plus other monthly and annual income) and your expenses by category: monthly essentials such as food, housing, and transportation, and annual costs such as insurance, taxes, and vacation. Then add your monthly savings toward retirement, an emergency fund, and investments.

The calculator totals your monthly income, monthly expenses, annual expenses, and savings, then projects them forward year by year using separate growth rates for income, expenses, and savings.

The data table and charts show annual income, expenses, retirement/savings, and the resulting surplus or shortfall across your chosen number of budget years, along with your cumulative retirement savings.

Worked example

Take-home pay of $5,500/month against $4,200 of expenses, saving $800/month, projected forward.

Monthly income: $5,500
Monthly expenses: $4,200
Monthly savings: $800
Monthly surplus: $500
Savings rate: 14.55%

How the numbers work

Start with $5,500 of monthly take-home pay. Subtract $4,200 of expenses to leave $1,300, then set aside $800 of savings, leaving a $500 monthly surplus.

The savings rate is what you set aside over what you bring in: $800 ÷ $5,500 = 14.55%. Projected forward, the surplus only holds if income keeps pace with expenses, which is what the year-by-year forecast is built to test.

This budget runs a $500 monthly surplus and a 14.55% savings rate. But if expenses grow faster than income, that cushion shrinks over time, which is exactly what the year-by-year projection is designed to reveal before it becomes a problem.

Watching the surplus trend, not just this month's number, is the point: a comfortable plan today can slip into deficit in a few years if costs outpace raises.

Budget Calculator glossary

Take-Home Pay: Your monthly income after taxes and deductions.
Annual Expenses: Costs paid yearly rather than monthly, such as insurance, taxes, and vacation.
Surplus / Shortfall: Income left over (or fallen short) after expenses and savings each year.
Growth Rate: The annual rate at which income, expenses, or savings are projected to rise.
Cumulative Retirement/Savings: The running total of money set aside for retirement and savings over the projection.
Fixed Expenses: Costs that stay roughly the same each month: rent or mortgage, insurance, loan payments.
Discretionary Spending: Non-essential, flexible spending such as dining out, entertainment, or hobbies: the easiest area to adjust.
Emergency Fund: Savings (commonly 3–6 months of expenses) set aside for unexpected costs so a surprise doesn't derail the budget.
50/30/20 Rule: A budgeting guideline: 50% of take-home pay to needs, 30% to wants, 20% to savings and debt payoff.

Budget Calculator FAQs

How far ahead does this project?+

It projects your full budget over the number of years you choose, growing income, expenses, and savings each year by the rates you set, so you can see whether you stay in surplus over time.

What does surplus or shortfall mean?+

It's your annual income minus expenses and savings. A positive number is money left over; a negative number means you're spending and saving more than you bring in.

How much should I save?+

Many aim for at least 20% of income, but any positive savings rate is progress. Use the savings categories and growth rate to model increasing contributions over time.