Zero-Based Budget Calculator
Calculate your monthly budget with the zero-based budget calculator.
(Psst… Give a moment for the calculator to upload.)
A zero-based budget calculator helps you test your monthly budget, understand your personal finance situation, and how you spend money.
It allows you to allocate every dollar of your income to a specific category, ensuring you are not overspending in any area. It also allows you to prioritize saving money and debt repayments.
This budgeting method guides you on how much you can spend on each budget category. When you track your spending against this budget, you can see whether you are following it.
Disclaimer: The content provided is for informational purposes only and should not be considered financial advice. Consult a financial professional for personalized guidance on budgeting and managing your finances.
How to use the zero-based budget calculator
To start using the zero-based budget calculator, follow these simple steps:
- Gather all your financial information, such as your income, expenses, and savings.
- Input your after-tax income in the designated field.
- List out all of your monthly expenses under different categories, such as rent/mortgage, groceries, utilities, transportation, etc.
- Assign a specific amount to each expense category based on your actual expenses (fixed costs) and estimated spending (variable costs).
- Allocate money towards savings and debt repayment.
Once you have allocated all your income to different categories, the calculator will show you whether you have a surplus or deficit.
- If you have a surplus, you can allocate it towards savings or adjust your budget to increase your spending in certain areas.
- If you have a deficit, you need to re-evaluate your expenses and find ways to reduce them to match your income.
The sum of all your expenses should be equal to your income. And the last line of the calculator should be at zero.
Disclaimer: The content provided is for informational purposes only and should not be considered financial advice. Consult a financial professional for personalized guidance on budgeting and managing your finances.
Categories in the zero-based budget
After-tax income:
Total monthly income combined.
Housing:
F.ex. Rent or monthly mortgage payment.
Utilities:
F.ex. Electricity, water, gas, trash.
Other bills:
Other fixed costs, f.ex. phone, property taxes, subscriptions.
Transportation:
F.ex. Car payments, gas, car insurance, public transportation.
Insurance:
F.ex. Life insurance, health insurance, identity theft insurance.
Groceries/Household items:
Food & household items (like cleaning products, toilet paper, soap…)
Dining out/Takeout
Estimate how much you spend on dining out and takeout.
Clothing
Estimate how much you spend on clothing.
Entertainment
Estimate how much you spend on entertainment.
Miscellaneous:
F.ex. Personal care, hairdresser, gifts, etc.
Giving:
Donations or charitable contributions.
Credit Card Payment:
Credit card minimum payment.
Debt Payments:
F.ex. Personal loans, credit card debt payments.
Investments:
Long term investments
Savings:
F.ex. Emergency fund, savings account, or other long-term savings like a down payment on a house
Sinking funds:
Money you set aside monthly for irregular expenses such as vacations or car repairs.
Buffer:
Unexpected expenses.
Difference:
Income-Expenses=zero.
The difference (income minus expenses) should ideally be zero.
- If you have a surplus, you can allocate it towards savings or adjust your budget to increase your spending in certain areas.
- If you have a deficit, re-evaluate your expenses and find ways to reduce them to match your income.
Revisit the calculator if your income or fixed costs change or you want to adjust your spending in specific categories.
Zero-based budget 101 – Complete Guide
Read more about zero-based budgeting and take your budgeting skills to the next level. Discover how to create a zero-based budget step by step and get tips on how to stick to it successfully.
Related Post: Zero-Based Budgeting 101 – Guide, CateGories + Examples
Zero-based budget templates – free printables
Check out these cute & free zero-based budget templates. You can find them in this post:
Other Free Budget Planner Templates
It’s important to find a budgeting system that works for you.
If the Zero-Based Budgeting doesn’t fit your lifestyle or financial goals, here are some other free budget templates to try out:
- Traditional budget planners: 37 Budget Planners & Trackers – Cute & Free Printables
- 50/30/20 Budget: 50/30/20 Budget Template – 5 Cute (&Free!) Budgeting Planners