Budgeting Income Calculator with
Pay Period Calendar

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Help you to estimate your household's combined spendable income for each of the next 12 months.

This free online Budgeting Income Calculator will forecast the combined household monthly take-home pay for up to five income sources -- regardless of pay period type. If your household has multiple income sources, each with different pay periods (week, bi-weekly, semi-monthly, etc.), this tool will help you to see how much spendable income will be available for each of the next 12 months.

Plus, you can also view and print-out a pay period calendar for each income source that you enter. Cool!

The Key to Budgeting Income

If yours is like most households, you probably have months wherein more paychecks are received and other months wherein fewer paychecks are received. This is normally due to weekly or biweekly pay periods, seasonal employment, seasonal profit margins, or year-end bonuses and profit sharing. The key is to know ahead of time what your monthly spendable income will be for each of the next 12 months. In turn, this will make you aware of a very important number -- your lowest monthly income.

If possible, the goal should be to keep monthly expenditures lower than your lowest income month so that all income over and above that amount can be set aside for non-monthly bills and expenses, as well as for rapid debt reduction.

Imagine how great it would be to have funds readily available when irregular bills and expenses come due, and to be saving thousands of dollars in interest charges because you are paying your debts off ahead of schedule.

With that, let's use the Budgeting Income Calculator to forecast your combined household spendable income for each of the next 12 months, and allow you to view and print out a pay period calendar for each income source.

Budgeting Income Calculator
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Instructions: For each of your income sources (up to 5), enter the income name and the average take-home amount per pay day.

Next, select the pay period frequency and enter the days of the month (bi-monthly only) and the date of the last pay day.

Once you have completed entries for all income sources, click the "Show Monthly Net Income" button.

Mouse over the blue question marks for a further explanation of each entry field. More in-depth explanations can be found in the glossary of terms located beneath the Budgeting Income Calculator.

Important: The budgeting income calculator uses the date clock on your computer for working with dates. If the following date is incorrect, please check to make sure that your date clock is set to the current time and date. Or, if the following date is missing, the calculator may not work for you.

Current Date:

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Enter Up To 5 Income Sources
Days of Month
Last Pay Date
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Budgeting Income Calculator Glossary of Terms

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Name column: Short name or description for each income source.

Amount column: The average take-home pay per pay period for each income source. Note that this field must have a valid numerical entry for an income source to be included in the income budget spread sheet.

Days of Month column: The fields in this column only apply to income sources that are received on a Semi-Monthly basis (twice per month). If an income source does have a Semi-Monthly pay period, enter the two days of the month that you normally get paid on. For example, if you usually get paid on the 1st and 15th, enter "1" in the first field and enter "15" in the second field.

Frequency column: Select the pay period frequency for each entered income source. If you select Semi-Monthly, the days of the month fields will be enabled.

Pay Period Definitions
Pay Period Definition
Weekly once per week
Bi-Weekly once every two weeks
Semi-Monthly twice per month
Bi-Monthly once every two months
Monthly once per month
Quarterly once every 3 months
Semi-Annual twice per year
Annual once per year

Last Pay Date column: For each entered income source, select the month of your last pay, and enter the day of the month (middle field) and the four-digit year (right-hand field). For example, if your last pay day was on March 24th, 2011, you would select "Mar" from the drop-down menu, and then enter "24" in the middle field, and enter "2011" in the right-hand field. Note that in some cases days of the month over 28 will be set at 28 to accommodate the month of February.

Show Monthly Net Income button: Clicking this button will display a month by month income budget spread sheet immediately following this row.

Show Income drop-down menu: If you would like to view a forecasted pay period calendar for any one income source, select it from the drop-down menu. Note that you must click the Show Monthly Net Income button to enable the drop-down menu.

Printer Friendly Report button: Clicking this button will create a new, printer-friendly window containing the report that is currently displaying in the area above the button.

Reset button: Clicking this button will return the budgeting income calculator to its original state.

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