Efficient Dollar

Monthly Budget Calculator

Stop overcategorizing your life. Use this free monthly budget calculator to track the essentials, know your real expenses, and see exactly how much is left for guilt-free spending—no spreadsheets or micromanaging required.

Income sources

Add your regular paychecks and any other recurring income. Keep it simple — just what actually hits your accounts.

$
Total income (this period)$5,000

Overview

Total income (monthly)

$5,000

Fixed + saving & investing

$2,700

Leftover spending

$2,300

This is what's available for day-to-day spending on your dedicated spending card.

Budget overview

How your income is allocated

Period: monthly

  • Fixed expenses – $2,200
  • Savings / investing – $500
  • Leftover spending – $2,300
Create a free account or log in to save this budget and access it from any device.

How to use this monthly budget calculator

This calculator is designed to work the way real life does—around your actual pay schedule and real-world expenses. Here's how to get the most out of it:

  • Start by entering your regular income for the month or pay period.
  • Add your fixed expenses like rent or mortgage, utilities, insurance, and subscriptions.
  • Set aside savings and investing for goals like an emergency fund, travel, or retirement.
  • Use the remaining amount as your flexible everyday spending for groceries, eating out, fun, and more.

As you adjust your numbers, the calculator shows you how much is left for everyday spending so you can tweak your plan until it feels realistic.

Why this budget tool is different

Many budgeting apps make you track dozens of tiny categories and leave you feeling like you're "failing" whenever one of them goes over. Efficient Dollar takes a simpler, more practical approach:

  • Focus on a handful of big categories that actually matter.
  • Plan for both fixed bills and irregular expenses, not just this month's spending.
  • See a single, clear number for how much you can safely spend.
  • Use the same structure month after month so your budget stays consistent.

The goal isn't perfection—it's clarity and confidence. Once you know your real spending limit, every financial decision gets easier.

Who this monthly budget calculator is for

This tool works well if you:

  • Get paid monthly, biweekly, or on an irregular schedule and want a simple way to plan.
  • Are tired of complicated budgeting apps or giant spreadsheets.
  • Want a clear plan for bills, savings, and guilt-free spending.
  • Are just getting started with budgeting and want a practical first step.

As Efficient Dollar grows, this calculator will integrate with connected bank accounts, automated insights, and smarter recommendations—but it will always start with a simple, straightforward monthly budget.

Frequently asked questions about monthly budgeting

How much should I save each month?

A common rule of thumb is to save 10–20% of your take-home pay if you can. If you're catching up on bills or dealing with debt, it's okay to start smaller. The most important thing is to have a specific, planned amount in your budget for savings so it actually happens.

How often should I update my budget?

Most people do best reviewing their budget once per pay period. Each time you get paid, update your numbers, adjust any upcoming expenses, and make sure your leftover spending amount still feels realistic.

Can this calculator work with irregular income?

Yes. If your income changes month to month, start by budgeting based on a conservative average. As new income comes in, you can update your plan, add extra to savings, or fund upcoming expenses so you're not surprised later.