Accurately calculate and review your monthly budget. For free.
Draft your budget from scratch to quickly analyze your current monthly budget and find out the areas where you are over spending.
Reviewing your monthly budget has never been easier. Use our online monthly budget calculator below to quickly understand and evaluate your spending habits.
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Budgeting is better when you have a plan.
Build a free financial plan to gain more insights.
Frequently asked questions (FAQs)
Getting started with our monthly budget calculator is easy. Start off by entering estimated dollar amounts in the fields that apply to you. This includes your income, total monthly expenses, total annual expenses, and your monthly savings. When entering the amounts, you can round to the nearest dollar. Once you’ve finished with the fields that apply to you, review your budget summary to decide on which changes you should make.
There are four main categories that you’ll need to fill out which includes your income, total monthly expenses, total annual expenses, and your monthly savings.
Income: this includes your monthly net income, and all other income sources such as part-time jobs, investment dividends, and side hustles.
Monthly expenses: this includes common monthly expenses such as home, food, shopping, utilities, transportation, and healthcare expenses.
Annual expenses: this include expenses such as tuition, car registration, annual gifts, and more.
Monthly savings: this includes the amount you are saving on a monthly basis towards your retirement and other long term savings goals.
Yes, our monthly budget calculator is completely free to use. This means you’ll be able to access it as many times as you need so you can continue reviewing your budget. We recommend creating a free account to save your information and gain access to additional financial resources and calculators.
No, your budget is not your financial plan and should not be treated as such.
Your financial plan is more than just an analysis of where you are right now with your personal finances, it is also a strategic game plan for achieving future objectives across all areas of your financial life. An effective plan should include a savings strategy, a risk management plan, tax optimization strategy, an estate plan, retirement calculations, and an overall financial roadmap.
While your budget will uncover insight into your financial life that highlights your spending and saving habits which can include your retirement savings, it will not calculate your retirement outlook.
With Savology’s free retirement calculator you can determine your retirement age, retirement income, and what you can do to improve your retirement outlook.