Budget estimator
Enter your monthly income and expenses to see how much you have left over. The chart shows your spending breakdown by category.
Total expenses
$2950.00
Money remaining
$2050.00
Spending breakdown
Frequently asked questions
What percentage of my income should I spend on rent?
A common guideline is to keep housing costs at or below 30% of your gross income. However in Australian cities like Sydney and Melbourne, many people spend significantly more. If your rent exceeds 30%, look for ways to reduce other expenses like subscriptions or discretionary spending to keep your overall budget balanced.
What is the 50/30/20 budgeting rule?
The 50/30/20 rule suggests spending 50% of your after-tax income on needs (rent, food, utilities), 30% on wants (dining out, entertainment, hobbies), and saving or investing the remaining 20%. It's a simple framework rather than a strict rule — adjust the percentages to suit your situation and financial goals.
How do I budget for irregular expenses?
The best approach is to calculate your annual total for irregular expenses (car registration, insurance, holidays, Christmas) and divide by 12. Add that monthly amount as a separate budget category and set it aside each month. This way irregular costs don't derail your budget when they arrive.
How much should I have in an emergency fund?
Most financial advisors recommend having three to six months of essential living expenses in an easily accessible savings account. If your income is variable or you're self-employed, aim for the higher end. Use this budget estimator to calculate your monthly essentials, then multiply by three to six to find your target emergency fund amount.