Monthly Budget Calculator

A well-planned monthly budget is the foundation of financial health. Our budget calculator helps you allocate your income across different expense categories and identifies areas for improvement in your spending habits.

The calculator provides budget health analysis and recommendations based on financial best practices, helping you achieve your savings goals while maintaining a comfortable lifestyle.

Budget Categories:

• Housing: Rent/EMI, maintenance, property tax
• Food: Groceries, dining out, food delivery
• Transportation: Fuel, public transport, vehicle maintenance
• Utilities: Electricity, water, gas, internet, phone
• Entertainment: Movies, subscriptions, hobbies
• Healthcare: Insurance, medical expenses, medicines
• Savings: Emergency fund, investments, retirement

Budget Guidelines (50/30/20 Rule):

• Needs (50%): Housing, food, utilities, transportation
• Wants (30%): Entertainment, dining out, shopping
• Savings (20%): Emergency fund, investments, debt repayment

Budget Health Indicators:

• Excellent: 20%+ savings rate, positive surplus
• Good: 15-20% savings rate, balanced budget
• Fair: 10-15% savings rate, minimal surplus
• Poor: <10% savings rate or deficit

Budgeting Tips:

• Track expenses for 2-3 months before creating budget
• Use the envelope method for discretionary spending
• Automate savings and bill payments
• Review and adjust budget monthly
• Build emergency fund before investing

Features:

• Comprehensive expense category tracking
• Budget health assessment
• Savings rate calculation
• Visual budget distribution
• Personalized budget recommendations