Budget Planner
Create your monthly budget, track expenses, set savings goals, and achieve financial freedom. Plan your finances with this comprehensive budget planner tool.
Income & Expenses
Expense Breakdown
Budget Recommendations
Housing
Your housing costs are at 30% which is within the recommended 25-35% range.
Savings
15% savings rate is good. Aim for 20% to achieve financial independence faster.
Food & Dining
Consider reducing dining out by 25% to save an additional ₹2,500 monthly.
Investments
Consider allocating 50% of your savings to equity investments for growth.
12-Month Projection
| Month | Income | Expenses | Savings | Cumulative |
|---|
Budget Planning Guide
A budget is a plan for your money that helps you achieve financial goals, control spending, and build wealth. This budget planner helps you create a realistic monthly budget based on the 50/30/20 rule and other proven budgeting methods.
Popular Budgeting Methods
50/30/20 Rule
- 50% Needs: Housing, utilities, groceries, transportation
- 30% Wants: Dining, entertainment, shopping, hobbies
- 20% Savings: Emergency fund, retirement, debt repayment
Envelope System
- Allocate cash to envelopes for each category
- Spend only from designated envelopes
- When envelope is empty, stop spending in that category
Zero-Based Budget
- Every rupee has a job assigned
- Income minus expenses equals zero
- Track every expense meticulously
Pay Yourself First
- Save/invest first, then spend the rest
- Automate savings at beginning of month
- Spend freely from remaining amount
Recommended Expense Percentages
| Category | Recommended % | Range | Example (₹50,000) |
|---|---|---|---|
| Housing & Rent | 25-35% | ₹12,500-₹17,500 | ₹15,000 (30%) |
| Transportation | 10-15% | ₹5,000-₹7,500 | ₹7,500 (15%) |
| Food & Groceries | 10-15% | ₹5,000-₹7,500 | ₹10,000 (20%) |
| Healthcare | 5-10% | ₹2,500-₹5,000 | ₹5,000 (10%) |
| Debt Repayment | Up to 20% | ₹0-₹10,000 | ₹0 (0%) |
| Savings & Investments | 15-20% | ₹7,500-₹10,000 | ₹7,500 (15%) |
| Entertainment & Leisure | 5-10% | ₹2,500-₹5,000 | ₹5,000 (10%) |
Budgeting Tips for Success
Track Daily Expenses
Use expense tracking apps or simple spreadsheet to record every expense for first 30 days.
Automate Savings
Set up automatic transfers to savings/investment accounts immediately after salary credit.
Review Monthly
Review and adjust your budget at month-end. Celebrate successes and identify areas for improvement.
Set SMART Goals
Specific, Measurable, Achievable, Relevant, Time-bound financial goals keep you motivated.
Common Budgeting Mistakes to Avoid
- Unrealistic Expectations: Setting budgets too strict leads to frustration and abandonment
- Forgetting Irregular Expenses: Annual subscriptions, insurance premiums, car maintenance
- No Emergency Fund: Not budgeting for unexpected expenses leads to debt
- Not Adjusting: Failing to update budget when income or expenses change
- All or Nothing Mindset: Missing budget one month doesn't mean quitting altogether
- No Fun Money: Too strict budget without entertainment leads to burnout
- Comparing to Others: Everyone's financial situation and priorities are different
Emergency Fund Planning
Stage 1: Starter Fund
₹25,000-₹50,000 (1 month expenses)
Immediate protection against small emergencies
Stage 2: Basic Fund
₹1,50,000-₹3,00,000 (3-6 months expenses)
Protection against job loss or major emergencies
Stage 3: Full Fund
₹6,00,000+ (6-12 months expenses)
Complete financial security and peace of mind