Budget Estimator Calculator

by

Monthly Budget Estimator Calculator

.budget-calculator-container {
font-family: -apple-system, BlinkMacSystemFont, “Segoe UI”, Roboto, Oxygen-Sans, Ubuntu, Cantarell, “Helvetica Neue”, sans-serif;
max-width: 800px;
margin: 20px auto;
padding: 25px;
border: 1px solid #e1e1e1;
border-radius: 12px;
background-color: #ffffff;
box-shadow: 0 4px 15px rgba(0,0,0,0.05);
}
.budget-calculator-container h2 {
color: #2c3e50;
text-align: center;
margin-bottom: 25px;
font-size: 28px;
}
.budget-section {
margin-bottom: 20px;
padding-bottom: 15px;
border-bottom: 1px solid #f0f0f0;
}
.budget-section-title {
font-weight: bold;
color: #34495e;
margin-bottom: 15px;
display: block;
font-size: 18px;
}
.budget-grid {
display: grid;
grid-template-columns: 1fr 1fr;
gap: 15px;
}
@media (max-width: 600px) {
.budget-grid { grid-template-columns: 1fr; }
}
.input-group {
margin-bottom: 15px;
}
.input-group label {
display: block;
margin-bottom: 5px;
font-size: 14px;
color: #555;
}
.input-group input {
width: 100%;
padding: 10px;
border: 1px solid #ccc;
border-radius: 6px;
box-sizing: border-box;
font-size: 16px;
}
.calculate-btn {
width: 100%;
background-color: #27ae60;
color: white;
padding: 15px;
border: none;
border-radius: 6px;
font-size: 18px;
font-weight: bold;
cursor: pointer;
transition: background 0.3s ease;
}
.calculate-btn:hover {
background-color: #219150;
}
.result-box {
margin-top: 25px;
padding: 20px;
border-radius: 8px;
display: none;
}
.result-positive {
background-color: #e8f6ef;
border: 1px solid #27ae60;
}
.result-negative {
background-color: #fdf2f2;
border: 1px solid #e74c3c;
}
.result-row {
display: flex;
justify-content: space-between;
margin-bottom: 10px;
font-size: 16px;
}
.result-total {
font-weight: bold;
font-size: 20px;
border-top: 2px solid #ddd;
padding-top: 10px;
margin-top: 10px;
}
.budget-article {
margin-top: 40px;
line-height: 1.6;
color: #333;
}
.budget-article h2 {
color: #2c3e50;
border-bottom: 2px solid #27ae60;
display: inline-block;
padding-bottom: 5px;
}

Monthly Budget Estimator

Income

Fixed Expenses

Variable Expenses

Total Monthly Income:
$0.00
Total Monthly Expenses:
$0.00
Monthly Balance:
$0.00
Savings Rate:
0%

How to Use the Budget Estimator

Managing your finances effectively starts with understanding where your money goes. This Monthly Budget Estimator is designed to provide a comprehensive snapshot of your financial health by comparing your net income against your expenditures.

The 50/30/20 Rule of Budgeting

A common guideline for financial success is the 50/30/20 rule. This suggests allocating your income in the following way:

  • 50% to Needs: Essential costs like housing, utilities, and groceries.
  • 30% to Wants: Non-essential spending like dining out, hobbies, and streaming services.
  • 20% to Savings & Debt: Building an emergency fund or paying down principal debt.

Understanding Your Results

Once you enter your figures, the calculator determines your Monthly Balance. If this number is positive, you have a surplus that can be directed toward investments or savings. If the number is negative, it indicates that your spending exceeds your income, suggesting a need to review your variable expenses or “lifestyle” spending.

Example Budget Scenario

Consider an individual earning $5,000 per month:

  • Housing: $1,500
  • Utilities: $300
  • Groceries/Transport: $700
  • Debt: $500
  • Entertainment: $500

In this case, total expenses equal $3,500. The monthly balance is $1,500, representing a healthy 30% savings rate. This individual is well-positioned to reach long-term financial goals quickly.

Tips for Accurate Estimation

To get the most accurate result, look at your bank statements from the last three months. Take the average for variable categories like “Groceries” and “Utilities” to account for seasonal fluctuations in billing and spending habits.

function estimateBudget() {
var income = parseFloat(document.getElementById(‘monthlyIncome’).value) || 0;
// Fixed
var housing = parseFloat(document.getElementById(‘housing’).value) || 0;
var utilities = parseFloat(document.getElementById(‘utilities’).value) || 0;
var insurance = parseFloat(document.getElementById(‘insurance’).value) || 0;
var debt = parseFloat(document.getElementById(‘debt’).value) || 0;
// Variable
var groceries = parseFloat(document.getElementById(‘groceries’).value) || 0;
var transport = parseFloat(document.getElementById(‘transport’).value) || 0;
var lifestyle = parseFloat(document.getElementById(‘lifestyle’).value) || 0;
var other = parseFloat(document.getElementById(‘other’).value) || 0;
var totalExpenses = housing + utilities + insurance + debt + groceries + transport + lifestyle + other;
var balance = income – totalExpenses;
var savingsRate = 0;
if (income > 0) {
savingsRate = (balance / income) * 100;
}
var resultDiv = document.getElementById(‘budgetResult’);
var resIncome = document.getElementById(‘resIncome’);
var resExpenses = document.getElementById(‘resExpenses’);
var resBalance = document.getElementById(‘resBalance’);
var resRate = document.getElementById(‘resRate’);
var advice = document.getElementById(‘adviceText’);
resIncome.innerText = ‘$’ + income.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
resExpenses.innerText = ‘$’ + totalExpenses.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
resBalance.innerText = ‘$’ + balance.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
resRate.innerText = (savingsRate > 0 ? savingsRate.toFixed(1) : “0”) + ‘%’;
resultDiv.style.display = ‘block’;
if (balance > 0) {
resultDiv.className = ‘result-box result-positive’;
if (savingsRate >= 20) {
advice.innerText = “Excellent! You are meeting or exceeding the recommended 20% savings goal.”;
advice.style.color = “#27ae60”;
} else {
advice.innerText = “You have a surplus, but your savings rate is below 20%. Consider reducing variable costs.”;
advice.style.color = “#2c3e50”;
}
} else if (balance === 0 && income > 0) {
resultDiv.className = ‘result-box result-positive’;
advice.innerText = “Your budget is balanced, but you have no margin for savings. Look for ways to cut costs.”;
advice.style.color = “#d35400”;
} else if (income === 0) {
resultDiv.style.display = ‘none’;
alert(“Please enter your monthly income to get a calculation.”);
} else {
resultDiv.className = ‘result-box result-negative’;
advice.innerText = “Warning: Your expenses exceed your income. You are currently in a deficit of $” + Math.abs(balance).toFixed(2) + ” per month.”;
advice.style.color = “#e74c3c”;
}
}

Leave a Comment