Budget Tracking Calculator
Track your monthly budget, monitor income vs expenses, and manage your finances effectively. Set savings goals and visualize your spending habits.
Step 1: Monthly Income
$4,000
$500
Income Sources
Include all sources of income: salary, freelance work, investments, rental income, and any other regular income streams.
Step 2: Monthly Expenses
$1,200
$300
$600
$400
Budgeting Tips
Try to follow the 50/30/20 rule: 50% for needs, 30% for wants, and 20% for savings and debt repayment.
Budget Analysis Results
Summary
Expense Breakdown
Savings Goals
Monthly Balance
$1,000
Based on $4,500 income and $3,500 expenses
Total Monthly Income
$4,500
Total Monthly Expenses
$3,500
Savings Rate
22%
Annual Savings Potential
$12,000
Expense Breakdown
| Expense Category | Amount | Percentage of Income | Recommended (50/30/20) |
|---|
Savings Goals Analysis
Budgeting Formula
Monthly Balance = Total Income – Total Expenses
To improve your financial health: Track all expenses, identify areas to reduce spending, and allocate funds to savings and investments regularly.
Need Professional Financial Planning?
Connect with our financial experts for personalized budgeting advice, investment strategies, and comprehensive financial planning services.
Get Financial Advice