Our online budget calculator allows you to see where you’re currently spending your money. You’ll also be able to get a better understanding of where you can make cuts to your budget. This will also you identify areas were you might be able to cut back spending. We also have an excel budget calculator template to track your spend and create a budget.
Steps For Using The Budget Calculator
Start off by entering your annual gross salary and effective tax rate. Your effective tax rate will vary depending on how you file, deductions, which state you live in, income and much more. Next on the online calculator you’ll fill out the different categories. Don’t worry if you aren’t 100% sure what you’re spending. Enter what you know to the best of your knowledge. At the bottom of the budget calculator you’ll have a summarized view of your monthly expenses. On the other size you’ll see your monthly income statement. Trying changing modifying you expenses to see what impact it has on your overall net income after expenses. This calculator is here to help you better understand what your current budget is, and the impact of decrease/increase expenses.