BCBetter Calculators

Monthly Budget Calculator

Calculate your monthly surplus or deficit by entering your income and key expense categories.

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Enter your values and click Calculate

How It Works

The five expense categories — housing, food, transportation, utilities, and other — are added together to produce total monthly expenses. That total is subtracted from take-home income to find the surplus (positive result) or deficit (negative result). The savings rate is calculated as surplus divided by income, multiplied by 100, expressing how much of each income dollar is left after expenses. The housing ratio divides housing cost by income and multiplies by 100, flagging whether rent or mortgage consumes too large a share of earnings. Financial guidelines commonly suggest keeping housing below 30% of gross income and saving at least 20% of take-home pay, though the right targets depend on personal circumstances.

Examples

Comfortable budget
$4,500 income, $2,400 in total expenses.
Result: Surplus $2,100, savings rate 46.7%, housing ratio 26.7%.
Tight budget
$3,000 income, $2,800 in total expenses.
Result: Surplus $200, savings rate 6.7%, housing ratio 46.7% — above the 30% guideline.
High earner, high cost of living
$8,000 income with urban living costs.
Result: Surplus $3,200, savings rate 40%, housing ratio 35%.

Frequently Asked Questions

What is a good savings rate?
Financial advisors commonly suggest saving 20% of take-home pay, following the 50/30/20 rule. Even 10% is a meaningful starting point, especially when building an emergency fund or paying off high-interest debt first.
Should I include debt payments in 'other expenses'?
Yes — add minimum debt payments such as credit card minimums, student loan payments, and car loans to your expense total for an accurate picture of your actual monthly cash flow.
What does housing ratio mean and why does it matter?
The housing ratio shows what percentage of your income goes toward rent or mortgage. Financial guidelines suggest keeping this below 30% of gross income. Exceeding 30% often leaves too little room for savings and other essential spending.

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