Free Personal Budgeting Calculator for Creating a Personal Budget Worksheet

Free Personal Budgeting Calculator Sign

This calculator will help you to formulate a realistic personal budget and allow you to print out any number of personalized, printable budget worksheets.

Plus, unlike other online budget calculators, this calculator will alert you to the opportunity costs (work time and lost interest) of your spending as you complete each entry into the budget form.

If you would prefer to enter your budget amounts on a month-by-month basis, and you are already fully aware of the opportunity costs being created your spending, you might want to use the Monthly Budget Calculator.

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Free Personal Budgeting Calculator

Create a realistic budget that will alert you to the little known opportunity costs of spending, which can be a real game changer!

Special Instructions

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Budget PreferencesBudget Preferences and SettingsBudget Preferences and Opportunity Cost SettingsBudget Preferences and Opportunity Cost Settings

Budget Preferences and Opportunity Cost Settings:

This section provides fields and choices that will be used by the remainder of the calculator. Note that you can change any of these preferences at any time and the calculator will readjust its displays and results accordingly.

The real hourly wage (RHW), Expected ROI, and Cost years fields are entries needed to calculate the opportunity cost (what you are giving up) of each budget item amount. I highly recommend you complete these fields and then pay very close attention to the results they create.

If you simply want to print out a blank budget worksheet, select your preferred budget period, edit the category and account titles, scroll to the bottom of the calculator and tap the "Printable Budget Sheet" button.

Workdays/wk:Workdays/week:Number of workdays per week:Number of workdays per week:

Number of workdays per week:

Enter the average number of days you work each week. This will allow you to indicate when expenses only apply to workdays, which the personal budgeting calculator can then translate into a total for the selected budgeting time period.

Budget per:Budget time period:Preferred budget time period:Preferred budget time period:

Preferred budget time period:

Select your preferred budget time period. For most people this will be Monthly. However, if you prefer a different time period, select your preference and all amounts will be translated into your preferred time period. You can change your preference before, during, or after completing the budgeting form as the calculator will automatically recalculate the form.

RHWReal hourly wageReal hourly wageReal hourly wage:

Real hourly wage:

Enter your real hourly wage. This will allow you to see how many hours you will need to allocate to working each budget time period in order to earn enough after-tax, after-work-related expense income to pay for each budgeted item. Clicking on the link will open the Real Hourly Wage Calculator in a new window.

Expect ROI:Expected ROI:Investment rate of return:Interest you expect to earn on investments:

Interest you expect to earn on investments:

Enter the annual percentage rate you expect to earn on your investments. Enter as a percentage, but without the percent sign. This figure will be used to estimate the potential future value of the money you are spending.

Cost years:Lost interest yrs:Years to calculate lost interest:Number of years to calculate lost interest:

Number of years to calculate lost interest:

Enter the number of years you would like the calculator to use when estimating future value. This figure will be used to estimate the potential future value of the money you are spending.

Load or Clear SamplesLoad or Clear Sample TitlesLoad or Clear Sample TitlesLoad or Clear Sample Category and Expense Titles

Load or Clear Sample Category and Expense Titles:

If you would like to clear the sample category and expense titles so you can enter your own, tap the "Clr" button.

If you cleared the sample titles but you wish to reload them, tap the "Load Sample" button.

Note that either of the two buttons in this section will zero out any amounts you have entered into the section below.

Monthly Income SourcesMonthly Income SourcesMonthly Income Sources and AmountsMonthly Income Sources and Amounts

Monthly Income Sources and Amounts:

Tap the plus (+) icon to show the 10 income source lines.

Tap the text button in any row to open up an income source form for that row.

Once you have edited the source name and entered or edited the amount and frequency, tap the "Save" button to save the changes and close the form.

Monthly Expense CategoriesMonthly Budget CategoriesMonthly Budget Categories and ExpensesMonthly Budget Categories and Expenses

Monthly Budget Categories and Expenses:

Categories: Tap the plus signs (+) to expand each category. Tap the category names to edit them.

Expenses: After expanding a category, tap any expense name (or "Blank") to open a popup form wherein you can make changes to the name, expense type, budget amount, and frequency.

Save: After the expense name, type, amount, and frequency have been edited, tap the "Save" button to save the changes and close the entry form.

Edit Category Name:

Tapping the "Save" button will close the popup and save the changes to the main worksheet, whereas tapping the "Cancel" button will close the popup without saving the changes.

Edit Income Sources and Amounts:

Tap the text links to show and hide field instructions.

Edit Expense Name and Amounts:

Tap the text links to show and hide field instructions.

Monthly Budget SummaryMonthly Budget SummaryMonthly Budget SummaryMonthly Budget Summary

Monthly Budget Summary:

This section of the calculator will keep an updated monthly summary of your income and expense entries.

Income:Total income:Total monthly income:Total monthly income:

Total monthly income:

This is the total amount of income you entered, translated into your preferred budget time period.

Expenses:Total expenses:Total monthly expenses:Total monthly expenses:

Total monthly expenses:

This is the total amount of living expense, payments and savings you entered, translated into your preferred budget time period.

Surp/-Short:Surplus / -shortage:Budget surplus / -shortage:Budget surplus / -shortage:

Budget surplus / -shortage:

This is the total of your budgeted income less your budgeted living expenses, payments and savings. A negative sign indicates you have a budget shortfall (more money going out than is coming in). No negative sign indicates a budget surplus (more money coming in than is going out).

Fixed:Total fixed:Total fixed expenses:Total fixed expenses:

Total fixed expenses:

This is the total of all budgeted items for which you chose the "Fixed" option. A fixed budget item is one that is typically difficult or impossible to reduce, because doing so would have an adverse affect on the health and welfare of the household.

Variable:Total variable:Total variable expenses:Total variable expenses:

Total variable expenses:

This is the total of all budgeted items for which you chose the "Variable" option. A variable budget item is typically one that can be reduced with a reasonable amount of effort, and without having an adverse affect on the health and welfare of the household.

Set aside:Total set-aside:Total non-monthly set aside amount:Total non-monthly set aside amount:

Total monthly non-monthly set aside amount:

This is the total of all budgeted items in which the payment frequency exceeds your preferred budget time period. For example, if your preferred budget time period is monthly, and your auto insurance premium is paid semi-annually (twice per year), 1/6 of the premium will be added to this set-aside amount. This helps to insure that you will have the cash set aside to pay all non-preferred-period expenses as they come due.

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Budget Worksheet

Budget Worksheet:

Tapping the button below will open your budget worksheet in a new window. You can tap the button at any time during your entering and editing of budget preferences, categories, and expenses. If you're not satisfied with the worksheet simply close the worksheet window, adjust your entries, and then recreate the worksheet.

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Help and Tools


To successfully tracking and budgeting your income and expenses.

The #1 Key to Creating a Personal Budget That Works

The number one key to creating a budget that you will stick with, is to make absolutely sure that your budget is based on reality instead of on delusional optimism.

The only way you can base your budget on reality is to create your budget using your past spending as a guide. Only your past spending can provide the necessary proof that you have the self-discipline needed to stay within your budgeted amounts.

In other words, it's one thing to remove "ice cream cones" from your budget on paper, it's another thing to walk past an ice cream stand on a hot summer day without buying an ice cream cone.

If you are not meticulously tracking and tallying-up your day-to-day spending, your chances of creating a realistic budget that works are somewhere between slim and none.

The #1 Key to Tracking Your Spending

In my experience there is only one way to successfully track your spending, and that is:

Never walk away from an expenditure without a legible receipt, and always put all receipts in the same spot in your wallet or purse.

If you allow clerks to put your receipts in a bag, or you fail ask for receipts, the written records of those expenditures may be gone forever, and along with them will go your chance at creating a realistic budget that works.

Once you get in the habit of always getting receipts, and always putting them in the same spot, the next step is to designate a time each day or week to:

  1. Remove your receipts from the designated spot in your wallet or purse.
  2. Enter all receipts into your spending tracker software or notebook.
  3. File the recorded receipts into a filing system

This will insure that you have everything you need to create a realistic budget that works.

The #1 Key to Getting the Greatest Return on Your Spending

Eliminate the word "Spending" from your vocabulary, and replace it with the word "Investing."

As an "investor" of your money rather than a "spender" you will be more apt to weigh what you are giving up in return for what you are getting. What you give up is what's often referred to as, " The Opportunity Costs of Spending."

In case you're not familiar with the term, opportunity costs can be defined as the value of what you give up by choosing one alternative over all other available alternatives.

One of the most overlooked opportunity costs of spending money on non-appreciating purchases (items whose value does not grow over time), is the opportunity cost of lost interest earnings.

For every dollar of your income you spend on a non-appreciating purchase, you simultaneously give up the right to earn interest on that particular dollar ... for the rest of your life.

As the free personal budgeting calculator will help you to discover, the opportunity cost of lost interest earnings can add up to millions of dollars over the course of your lifetime.

Do You Love Spending Time at Your Job?

As an investor of your money, one of the things you give up when "spending" an amount of money, is the time you had to spend earning that amount of money.

Therefore, while creating a personal budget you should be asking yourself this question:

How many hours will I have to spend at work in order to earn the after-tax, after-work-related-expense income to needed to pay for the item I'm budgeting for?

If you hate your job and/or you hate spending time away from your loved ones, then any emotional gains you get from spending your money needs to be high enough to offset the emotional losses you are experiencing from spending time at your job.

Otherwise, if the emotional loss from working to pay for the item is greater than the emotional gain from the purchased item, you will have suffered an emotional net-loss (poor investment) from your "expenditure."

Suffer enough of these emotional net-losses, and you could find yourself in emotional bankruptcy.

If you are suffering constant emotional net-losses from your "spending," I would suggest investing your money in investments that will help you to transition to a work you will enjoy (investments such as education, training, invest in your debt, etc.).

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.