Monthly Budget Calculator

Student Budget Calculator

Monthly Income

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Include total monthly wages, salaries, tips and any other employee take-home compensation (also includes self-employment earnings)
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Include monthly amount from pension(s), social security
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This could include monthly income payments from real estate, alimony, child support, investment dividends, bank/savings interest, etc.

Monthly Expenses and Savings

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If a homeowner, this includes monthly mortgage, real estate taxes, home insurance, PMI (if applicable), HELOC (if applicable), etc.
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This includes monthly bills for electric, heat, water, sewer, cable, etc.
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This may include plowing, trash, lawn care, etc.
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This includes any monthly vehicle loans or other payments
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Include monthly allowance for routine expenses like oil change, tire rotation as well as any amount you wish to set aside for other maintenance expenses
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Enter any monthly amount you wish to set aside for the purchase of new vehicle(s) in the future
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Enter monthly amount you spent on groceries
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Enter monthly amount spent going out to eat
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Enter monthly cell phone bill
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Enter any monthly debt payments (health care, student loan, credit card, personal debt, etc.)
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Enter any monthly amounts for car insurance, life insurance, disability insurance, etc.
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Enter any other monthly expenses (charitable givings, etc.)
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Enter any monthly amount you wish to set aside for savings (vacation, retirement, etc.)

Money Leftover

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Next Steps To Improve your Budgeting:

1

Start

Without sitting down and inputting your numbers – you’ll never know where you’re at. Just getting started is a major victory and a big first step towards taking control of your money. 

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2

Stick with It.

Like any new habit, it takes a little work to keep with it. Starting with once a month is a good goal. Find an accountability partner or spouse to budget with and have some financial conversations. 

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3

Put your extra money to work.

The ultimate goal of your budget is to improve your cash flow situation and ultimately yield excess funds that you can use to pay down debt, save, and invest. 

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