Free Budget Planner Calculator

The first step in any financial plan is to create a reasonable budget to track your income and expenses. A budget will help you see where your money is going, and help you plan to make the best possible financial decisions to save you money. The budget planner calculator on this page will help you create a custom budget for your unique financial needs.

To use the budget planner, begin by entering your income details. What is your net salary (including bonuses?) How frequently are you paid? Do you earn an income from investments, allowances, or other sources? If so, enter these sums in the appropriate field. Next, enter your transportation information. What is the monthly (or annual, fortnightly, or weekly) cost of your registration, maintenance, and repairs? How much do you spend on petrol? Public transportation or taxis? Parking? Other transportation-related expense? Enter this data in the appropriate field, with the correct frequency.

Next, you'll complete the form for your living expenses. What are your council and water rates? Utilities? Telephone/internet, mobile phone, maintenance, household, medical, clothing, education, pet-related, and child related costs? Other expenses?

Next, you'll complete information regarding your insurance and superannuation. How much are your monthly (or weekly, annual, or fortnightly) insurance premiums? Next, you'll complete information about your rent and mortgage payments, personal loan payments, and credit card or store card payments. Then, complete the information regarding fees, duties and taxes on your investments.

Finally, enter the costs of your leisure expenses. This is often the most difficult section to complete, as the costs are not fixed. You may have to track your expenses in these categories for a fortnight or a month to determine how much you spend in each category.

Once you've completed the forms regarding your income and expenses, the budget planner will reveal the amount you spend (or receive) in each category on a weekly, fortnightly, monthly and annual basis. Using this information, you can determine whether you are spending your funds wisely and identify problem areas in your budget.

Money-Saving Tip

  • Try allocating a specific amount to each leisure area. Withdraw the specified amount in cash each month, and keep the cash in a jar or envelope clearly marked for each category (i.e. clothing, travel, entertainment). When the money from the envelope or jar is depleted, you cannot spend any more money on that category for the month. If a surplus remains at the end of the month, apply the funds to your highest-interest loans. This will help you get out of debt faster and save money on interest.
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