{
    "name": "Budget Calculator",
    "url": "https://calculators.geekmidst.com/calculators/budget-calculator",
    "markdown": "https://calculators.geekmidst.com/calculators/budget-calculator.md",
    "category": "Finance",
    "description": "Plan a monthly budget from your take-home pay and spending categories, see what is left over and compare your split with the 50/30/20 guideline.",
    "summary": "A budget tells your income where to go before the month starts. Enter take-home pay and planned spending to see what is left and how it splits between needs, wants and savings.",
    "also_called": [
        "Monthly budget planner",
        "50/30/20 calculator"
    ],
    "applies_to": "Worldwide",
    "last_updated": "2026-10-29",
    "computation": "Results are computed in the visitor’s browser on the HTML page. This API describes the calculator; it does not compute results.",
    "inputs": [
        {
            "name": "income",
            "label": "Monthly take-home income",
            "type": "number",
            "default": "5000"
        },
        {
            "name": "housing",
            "label": "Rent or mortgage",
            "type": "number",
            "default": "1500",
            "optional": true
        },
        {
            "name": "utilities",
            "label": "Utilities, phone and internet",
            "type": "number",
            "default": "250",
            "optional": true
        },
        {
            "name": "groceries",
            "label": "Groceries",
            "type": "number",
            "default": "500",
            "optional": true
        },
        {
            "name": "transport",
            "label": "Transport",
            "type": "number",
            "default": "300",
            "optional": true
        },
        {
            "name": "insurance",
            "label": "Insurance and healthcare",
            "type": "number",
            "default": "200",
            "optional": true
        },
        {
            "name": "debt",
            "label": "Minimum debt payments",
            "type": "number",
            "default": "250",
            "optional": true
        },
        {
            "name": "dining",
            "label": "Eating out and entertainment",
            "type": "number",
            "default": "300",
            "optional": true
        },
        {
            "name": "shopping",
            "label": "Shopping and personal",
            "type": "number",
            "default": "250",
            "optional": true
        },
        {
            "name": "other",
            "label": "Other spending",
            "type": "number",
            "default": "150",
            "optional": true
        },
        {
            "name": "savings",
            "label": "Savings and extra debt repayment",
            "type": "number",
            "default": "750",
            "optional": true
        },
        {
            "name": "currency",
            "label": "Currency",
            "type": "currency",
            "default": "USD"
        }
    ],
    "outputs": [
        {
            "key": "leftover",
            "label": "Left over each month",
            "format": "currency"
        },
        {
            "key": "expenses",
            "label": "Total spending",
            "format": "currency"
        },
        {
            "key": "savings",
            "label": "Planned savings",
            "format": "currency"
        },
        {
            "key": "needs_pct",
            "label": "Needs (guideline 50%)",
            "format": "percent"
        },
        {
            "key": "wants_pct",
            "label": "Wants (guideline 30%)",
            "format": "percent"
        },
        {
            "key": "savings_pct",
            "label": "Savings (guideline 20%)",
            "format": "percent"
        },
        {
            "key": "annual_savings",
            "label": "Savings per year",
            "format": "currency"
        }
    ],
    "formula": {
        "text": "Left over = Income − Needs − Wants − Savings;  Each share = Category total ÷ Income × 100",
        "variables": {
            "Needs": "housing, utilities, groceries, transport, insurance and minimum debt payments",
            "Wants": "eating out, entertainment, shopping and other spending",
            "Savings": "saving, investing and debt repayment above the minimum"
        }
    },
    "worked_example": {
        "inputs": {
            "income": "5000",
            "housing": "1500",
            "utilities": "250",
            "groceries": "500",
            "transport": "300",
            "insurance": "200",
            "debt": "250",
            "dining": "300",
            "shopping": "250",
            "other": "150",
            "savings": "750",
            "currency": "USD"
        },
        "steps": [
            "Needs = 1,500 + 250 + 500 + 300 + 200 + 250 = $3,000, or 60% of $5,000.",
            "Wants = 300 + 250 + 150 = $700 (14%); savings = $750 (15%).",
            "Left over = 5,000 − 3,000 − 700 − 750 = $550."
        ],
        "result": "This budget leaves $550 unallocated; adding it to savings would lift the savings rate to 26%."
    },
    "interpretation": "The 50/30/20 guideline (50% needs, 30% wants, 20% savings) is a rule of thumb, not a target everyone can hit; in high-rent areas needs often take more. Give every leftover dollar a job, ideally savings or debt repayment.",
    "assumptions": [
        "All amounts are monthly; irregular costs such as annual insurance should be divided by 12."
    ],
    "limitations": [
        "The needs/wants grouping is fixed; move an amount to another field if you classify it differently."
    ],
    "rules": null,
    "faqs": [
        {
            "question": "What is the 50/30/20 rule?",
            "answer": "A simple budgeting guideline: about half of take-home pay for needs, 30% for wants and 20% for savings and extra debt repayment."
        },
        {
            "question": "How much should go on rent?",
            "answer": "There is no universal limit. Housing is usually the biggest need, so if it alone takes more than half your take-home pay, the rest of the budget gets very tight."
        }
    ],
    "sources": [],
    "related": [
        {
            "name": "Savings Goal Calculator",
            "url": "https://calculators.geekmidst.com/calculators/savings-goal-calculator"
        },
        {
            "name": "Debt-to-Income Ratio Calculator",
            "url": "https://calculators.geekmidst.com/calculators/debt-to-income-ratio-calculator"
        },
        {
            "name": "Compound Interest Calculator",
            "url": "https://calculators.geekmidst.com/calculators/compound-interest-calculator"
        },
        {
            "name": "Inflation Calculator",
            "url": "https://calculators.geekmidst.com/calculators/inflation-calculator"
        }
    ],
    "disclaimer": "This calculator gives estimates for planning. It is not financial advice, and lenders’ actual terms, fees and rounding may differ.",
    "publisher": "GM¹X CalcVerse"
}