Monthly Budget Planner
Enter your income and expenses to see exactly where your money goes, how much you're saving, and how your budget scores against the 50/30/20 rule.
This free calculator is from The Budget Ledger, practical money guidance for everyday budgets and real-life planning.
How to use this budget planner
Enter your monthly take-home pay (the amount that actually lands in your account after taxes and deductions, not your gross salary), then list every expense and tag it as a Need, a Want, or Savings. The planner totals everything, shows your surplus or deficit, and scores how closely your spending follows the 50/30/20 rule. It runs entirely in your browser, so nothing you type is stored or sent anywhere.
The 50/30/20 rule, explained
The 50/30/20 rule splits your take-home pay into three buckets: 50% on needs (rent, utilities, groceries, transport), 30% on wants (dining out, hobbies, subscriptions), and 20% on savings and extra debt payments. Tag each expense as a Need, Want, or Save in the planner above to see how your real spending compares.
How to reduce each major expense category
- Housing: negotiate at renewal, consider a roommate, or refinance if rates allow.
- Food: shift a few restaurant meals to home cooking and plan around what's on sale.
- Transport: combine trips, keep up maintenance, and shop your insurance every year.
- Subscriptions: audit them monthly and cancel anything you haven't deliberately used.
What a healthy budget looks like
A healthy budget spends less than it earns, funds savings before wants, and keeps fixed costs from crowding out everything else. If your needs alone eat more than about 60% of take-home pay, the fix is usually a big-ticket item, rent, a car payment, or insurance, rather than daily coffees. If your wants run above 30%, that is where trimming feels easiest. The one number to protect is the savings bucket, because it is the only category that builds your future.
Turn your plan into a habit
A budget only works if you revisit it. Check your spending against the plan for about ten minutes a week, then rebuild it each month using what actually happened. For the full method behind this tool, read how to make a budget and the 50/30/20 budget rule. If you are brand new, budgeting for beginners walks through your first budget step by step.
Don't panic if you can't hit the exact ratios, they're a starting point. The goal is to move in the right direction and protect your savings bucket.
Frequently asked questions
What is the 50/30/20 budget rule?
The 50/30/20 rule splits your take-home pay into 50% for needs (housing, utilities, groceries, transport, minimum debt payments), 30% for wants (dining out, hobbies, subscriptions), and 20% for savings and extra debt payoff. It is a simple, forgiving framework that works for most people because it uses three broad buckets instead of a dozen fussy categories.
How do I make a monthly budget?
Start with your take-home income, list your fixed and variable expenses, pick a method like 50/30/20, then assign every dollar a job until income minus spending is zero. Enter those numbers in the planner above and it does the math, shows your surplus or deficit, and scores your budget instantly.
What percentage of my income should go to each category?
A common target is about 50% on needs, 30% on wants, and 20% on savings and debt payoff. In high-cost cities, needs often push past 50%, so trim from wants to keep the plan balanced. The percentages are guidelines, not laws, the aim is to protect your savings bucket while covering essentials.
Why is my budget always over?
Usually one of two reasons: you are budgeting off gross pay instead of take-home, or your variable categories (groceries, dining out, shopping) are set lower than you actually spend. Pull your last 60 days of statements, set realistic numbers, and the plan stops collapsing in week two.
Is this budget planner free and private?
Yes. It is completely free with no signup and no email, and it runs entirely in your browser, so the income and expense numbers you enter are never stored or sent anywhere.
What should I do if my expenses are more than my income?
Attack your variable categories first since those are easiest to cut this month, then look at fixed costs you can lower like subscriptions, insurance, or a phone plan. If a gap remains, the real fix is raising income, and seeing it clearly on the planner is what lets you plan that move.