Calculating your monthly budget is easier than you think

Need help creating a monthly budget? You’ve come to the right place!

The key to creating a budget is to account for every dollar you earn and spend each month. This monthly budget calculator will help you do just that.

Start by inputting your after-tax monthly income. (This is the total sum of all your paychecks in a typical month.) Then, record all of your bills and expenses, and how much you spend on them each month.

Hit “Calculate” at the end and you’ll see where all of your money goes each month. Good luck!

Take a look at your results. What did you learn?

You may find that your monthly budget is in a good place and doesn’t require any tinkering. Or, you may find ways where you can spend less so you can put more money toward that new car you want or that dream vacation you’ve desperately wanted to book.

Whatever you find, set your budget and try your best to stick to it. This is the best way to get the most out of your money; it helps you exercise some control but also helps set monthly savings targets, which will help you plan for the future.

And don’t be afraid to make changes! Perhaps you were fooling yourself when you thought you could spend $100 less each month on snacks at the grocery store. Or maybe you refinanced your student loans and opened up an additional $100 to allocate elsewhere. Budgets are always a work in progress!

Whether this is your first budget or your latest, try this calculator out and see if it helps you manage your money.

Good luck!