How the budget calculator works
Start with what comes in each month after tax: both take-home pays, and anything else regular. Then list what you plan to spend.
Spending sits in three groups. Committed is what's about the same every month and hard to change quickly. Essentials are needs whose amount moves. Flexible is the rest: what you could put off or cut in a tight month. These are the same three groups a HomePocket budget uses.
The calculator adds each group, shows its share of your income and of your spending, and what's left. If you plan to spend more than comes in, it says by how much rather than hiding it.
A worked example
A household takes home $8,000 a month. Committed costs come to $2,400 (30% of income), Essentials to $1,600 (20%) and Flexible to $800 (10%). That leaves $3,200 a month, $38,400 over a year, for savings or anything else.
Why three groups
A long list of categories is hard to keep to. Three groups make a budget easier to follow: Committed tells you what's already spoken for, Essentials what you need, and Flexible what you can adjust day to day. Rules of thumb like 50/30/20 exist, but what fits depends on where you live and what you earn, so the calculator shows your own shares instead of judging them.
What it doesn't do
It plans a typical month. Yearly costs like insurance paid once or holidays are easier to plan as a monthly amount set aside (a twelfth of the yearly cost). It doesn't know your real spending: a plan is only as good as the figures in it.
Questions
How do I make a household budget?
Write down what comes in each month after tax, then what you spend: start with what's fixed (housing, loans, insurance), then needs (groceries, utilities, transport), then the rest. Compare the total with your income and adjust the Flexible group first.
What's the difference between Committed, Essentials and Flexible?
Committed costs are about the same every month and hard to change quickly. Essentials are needed, but you have some say in how much. Flexible spending can wait or be cut when money is tight.
Can couples use it for a shared budget?
Yes. Add each person's income as its own line and the household's spending. If you also want to know how much each of you should put in, the fair contribution calculator compares ways to divide it.
Are my figures saved?
No. Everything stays in your browser and is gone when you close the page. Nothing is sent to our server.
Free calculators
- Shared Expense Split CalculatorDivide a list of shared monthly expenses half and half, by income, or by a percentage you choose.
- Fair Contribution CalculatorCompare four ways of paying for the household and what each leaves both of you.
- Yearly Costs CalculatorTurn the costs that come once or twice a year into one amount to put aside each month.