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Plan your monthly budget, track expenses, set savings goals & analyze spending with 50/30/20 rule. Free budget planner with detailed financial insights and recommendations.
Target: 20%
Recommended: ≤30%
Recommended: ≤10%
This budget calculator and guide are created by the CalcFinex Financial Team, a group of certified financial planners and personal finance experts with over 15 years of combined experience in budgeting, financial planning, and money management education.
A budget calculator is a comprehensive financial planning tool that helps you manage income, track expenses, set savings goals, and analyze spending patterns. It provides a clear picture of your financial health by categorizing expenses, comparing actual spending with recommended percentages, and showing your remaining balance.
Our advanced budget calculator offers 4 powerful views: Monthly Budget (detailed income and expense tracking), Yearly Projection (12-month financial forecast), Savings Goals (track multiple financial goals), and Analysis (50/30/20 rule compliance and smart recommendations). Whether you're creating your first budget or optimizing an existing one, this tool helps you make informed financial decisions.
Add all income sources: salary, freelance income, rental income, investment returns, side hustles. For example: ₹50,000 (salary) + ₹10,000 (freelance) = ₹60,000 total monthly income.
Categorize expenses: Housing (₹18,000), Food (₹7,200), Transportation (₹9,000), Utilities (₹4,800), Healthcare (₹4,800), Entertainment (₹3,000), Shopping (₹3,000), Savings (₹12,000), etc.
Allocate 50% to needs (₹30,000), 30% to wants (₹18,000), 20% to savings (₹12,000). Our calculator automatically categorizes and shows compliance.
Set maximum amounts for each category based on recommended percentages. Housing ≤30%, Transportation ≤15%, Food ≤12%, Savings ≥20%.
Monitor actual spending monthly, compare with budget, identify overspending areas, and adjust limits as needed. Use our Analysis tab for personalized recommendations.
Remaining Balance: ₹0 | Savings Rate: 20% ✓ | Budget Status: Balanced ✓
The 50/30/20 rule is a simple, effective budgeting method popularized by Senator Elizabeth Warren. It divides your after-tax income into three categories: 50% for needs, 30% for wants, and 20% for savings and debt repayment. This balanced approach ensures you cover essentials, enjoy life, and build financial security simultaneously.
Essential expenses you can't avoid:
₹60,000 income → ₹30,000 for needs
Discretionary spending for lifestyle:
₹60,000 income → ₹18,000 for wants
Financial security & future goals:
₹60,000 income → ₹12,000 for savings
| Category | Rec % | Type |
|---|---|---|
| 🏠 Housing | 30% | Need |
| 🚗 Transportation | 15% | Need |
| 🍔 Food & Groceries | 12% | Need |
| 💡 Utilities | 8% | Need |
| 🏥 Healthcare | 8% | Need |
| 🎬 Entertainment | 5% | Want |
| 🛍️ Shopping | 5% | Want |
| 📚 Education | 5% | Need |
| 💰 Savings | 20% | Savings |
| 📈 Investments | 10% | Savings |
| 🛡️ Insurance | 5% | Need |
| 💳 Debt Payments | 10% | Need |
| 📦 Other | 5% | Variable |
Percentage of income saved monthly
Target: ≥20%
Good: 20-30%
Excellent: 30%+
Housing cost as % of income
Target: ≤30%
Safe: 25-30%
Warning: 30%+
Debt payments as % of income
Target: ≤10%
Safe: 5-10%
Critical: 15%+
Setting specific, measurable savings goals is crucial for financial success. Our calculator's Savings Goals tab helps you track multiple goals simultaneously with target amounts, deadlines, current progress, and required monthly savings. Whether you're building an emergency fund, saving for a vacation, or planning a major purchase, goal tracking keeps you motivated and on track.
Required Monthly: ₹9,091
33.3% Complete
Required Monthly: ₹7,600
24% Complete
Transfer savings to a separate account immediately after receiving income. Treat savings as a non-negotiable expense, not what's left over.
Record all spending, even small purchases. Use our calculator to categorize and analyze where your money goes each month.
Aim for 3-6 months of essential expenses. Start with ₹10,000 and gradually increase. This prevents debt during unexpected situations.
Spend 30 minutes each month reviewing your budget. Compare actual vs planned spending and adjust categories as needed.
For variable expenses (food, entertainment), withdraw cash and use envelopes. When envelope is empty, stop spending in that category.
Set up automatic transfers to savings/investment accounts. Automation removes the temptation to skip savings.
Review all subscriptions (streaming, gym, apps). Cancel unused ones. Average household wastes ₹2,000-₹5,000/month on forgotten subscriptions.
Meal planning reduces food waste and dining out. Can save ₹5,000-₹10,000/month. Cook in batches and pack lunch.
When income increases, don't proportionally increase spending. Direct raises and bonuses to savings and investments instead.
Don't create an overly restrictive budget. Allow some flexibility for wants. Unrealistic budgets lead to frustration and abandonment.
A budget calculator is a financial planning tool that helps you track income, expenses, and savings. It works by categorizing your spending into different areas (housing, food, transportation, etc.), comparing actual spending with recommended percentages, and showing your remaining balance. Our calculator offers 4 views: Monthly Budget, Yearly Projection, Savings Goals, and Analysis with 50/30/20 rule.
The 50/30/20 rule is a simple budgeting method: 50% of income for needs (housing, utilities, groceries), 30% for wants (entertainment, shopping, dining out), and 20% for savings and debt repayment. Our calculator automatically categorizes your expenses and shows if you're following this rule with visual indicators.
Financial experts recommend spending no more than 30% of your gross monthly income on housing (rent/mortgage, property tax, insurance). For example, if you earn ₹50,000/month, your housing cost should ideally be ₹15,000 or less. Our calculator tracks your housing ratio and alerts you if it exceeds 30%.
A healthy savings rate is 20% or more of your gross income. This includes emergency fund contributions, retirement savings, and investment accounts. If you earn ₹60,000/month, aim to save at least ₹12,000. Our calculator tracks your savings rate and provides recommendations to increase it.
To create a monthly budget: 1) Calculate total income (salary + additional income), 2) List all expenses by category (housing, food, transport, etc.), 3) Set spending limits for each category, 4) Track actual spending, 5) Adjust as needed. Our calculator simplifies this with pre-set categories, recommended percentages, and real-time balance tracking.
Yes! Our budget calculator allows unlimited custom categories. Simply enter the category name and amount, and it will be added to your budget with automatic percentage calculation. You can also delete custom categories anytime. This flexibility helps you personalize your budget to match your unique spending patterns.
Use the Savings Goals tab to add multiple goals with target amounts and deadlines. The calculator shows: current progress, remaining amount, months left, required monthly savings, and completion percentage. For example, track emergency fund (₹1.5L by Dec 2025), vacation (₹50K by June 2025), and car purchase (₹2.5L by Dec 2026) simultaneously.
Recommended budget percentages: Housing 30%, Transportation 15%, Food 12%, Utilities 8%, Healthcare 8%, Savings 20%, Investments 10%, Debt Payments 10%, Entertainment 5%, Shopping 5%, Education 5%, Insurance 5%, Other 5%. Our calculator compares your actual spending with these recommendations and highlights areas needing adjustment.
To reduce expenses: 1) Identify overspending categories (calculator highlights these in red), 2) Cut discretionary spending (entertainment, shopping), 3) Negotiate bills (insurance, subscriptions), 4) Cook at home more, 5) Use public transport, 6) Cancel unused subscriptions. Our Analysis tab provides personalized recommendations based on your spending patterns.
Weekly budgets help with short-term cash flow management, monthly budgets are standard for salary-based planning, and yearly budgets show long-term financial trends. Our calculator supports all three periods with automatic conversion. For example, ₹5,000 monthly income = ₹1,154 weekly = ₹60,000 yearly.
Financial experts recommend 3-6 months of essential expenses in an emergency fund. Calculate your monthly needs (housing, food, utilities, healthcare, debt payments) and multiply by 3-6. For example, if essential expenses are ₹30,000/month, aim for ₹90,000-₹1,80,000 emergency fund. Our calculator helps track this goal.
Yes! Our budget calculator is 100% free with unlimited calculations. Access all features including expense tracking, savings goals, 50/30/20 analysis, yearly projections, custom categories, and detailed insights at no cost. No registration, no hidden fees, no credit card required.
Calculate savings growth
Track your expenses
Calculate take-home pay
Plan debt repayment
Plan retirement savings
Calculate investment returns
Learn more about budgeting and personal finance from these authoritative sources:
Official financial literacy resources and guidelines for personal finance management.
Visit RBI Website →Securities and Exchange Board of India's resources on investment and financial planning.
Visit SEBI Website →Free financial education resources, budgeting guides, and money management tips.
Visit NFEC Website →Government resources for budgeting, saving, and managing personal finances effectively.
Visit CFPB Website →🎯 Result: Most Comprehensive Free Budget Calculator Available
We combine simplicity with powerful features that actually help you improve your finances, not just track numbers.