Monthly Budget Planner App - TimelyBills Budget Manager App

Budgting Calculator

Monthly Income

Salary & Paycheck Salary, hourly wages, freelance wages, etc.

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Other Alimony, child support, rental income, dividend income, etc.

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Monthly Expenses

Housing Rent, mortgage, property tax, HOA fees, utilities, etc.

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Food Groceries, eating out, etc.

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Transportation Car payment, gas, rideshare, public transportation, vehicle maintenance, etc.

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Child Care Daycare costs, tuition, babysitter, etc.

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Credit Cards & Loans Student loans, credit card bills, etc.

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Insurance Medical insurance, car insurance, homeowners’ insurance, rental insurance, etc.

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Entertainment Streaming services, shows, events, etc.

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Personal Care Gym membership, haircuts, toiletries, clothing, etc.

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Pets Pet food, pet insurance, etc.

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Other Phone, childcare, etc.

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Monthly Goals & Savings

Emergency Fund Contribution to a rainy-day fund (equivalent of 3x monthly expenses)

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Retirement 401K, Roth IRA, SEP IRA, etc.

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Investments Stocks, bonds, futures, commodities, etc.

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Other 529 plan, MSA / FSA plan, etc.

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Total Monthly Income

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Total Monthly Expenses

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Total Monthly Savings

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Under/Over Budget

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How to use the TimelyBills budgeting calculator?

TimelyBills is a budgeting app that provides a budgeting calculator to help users manage their finances. Here are the steps to use the TimelyBills budgeting calculator.

Go to TimelyBills website https://timelybills.app/
Scroll down to the footer section and click on the Budgeting Calculator.
On the budgeting calculator screen, you can enter your income and expenses. You can add multiple income sources and expenses, such as rent, utilities, groceries, entertainment, etc.
Once you have added all your income and expenses, the TimelyBills budgeting calculator will automatically calculate your total income and expenses.
The budgeting calculator will then show you your net income, which is your income minus your expenses.
Based on your net income, you can then set a budget for each category of expense. The budgeting calculator will help you stay within your budget by tracking your expenses and reminding you when you are approaching or exceeding your budget limits.
Alternatively, you can also use the budgeting calculator on TimelyBills App. Apart from assisting with budgeting, It will also help to create savings goals and track your progress toward those goals. In addition, you can use it to track your expenses and income over time and monitor your financial health.

Overall, the TimelyBills budgeting calculator is a powerful tool that can help you manage your finances and stay on top of your expenses. By using the TimelyBills app regularly, you can gain greater control over your finances and achieve your financial goals.

Why is Budgeting Important?

Budgeting is essential for several reasons:

Helps you track your spending:
Budgeting allows you to monitor your expenses and identify areas where you are overspending.

Helps you reduce your debt:
Budgeting helps you allocate your money towards debt repayment, which can help you become debt-free.

Helps you save for your future goals:
Budgeting allows you to prioritize your expenses and save for your future goals.

Helps you achieve financial freedom:
Budgeting allows you to take control of your finances and achieve financial freedom.

Types of Budgets

There are several types of budgets, including:

Zero-Based Budget
A zero-based budget involves allocating every dollar of your income towards a specific expense.

Envelope Budget
An envelope budget involves allocating cash into envelopes for different categories of expenses.

50/30/20 Budget
A 50/30/20 budget involves allocating 50% of your income towards necessities, 30% towards wants and 20% towards savings and debt repayment.

Priority-Based Budget
A priority-based budget involves prioritizing your expenses based on your financial goals.

By using a student loan calculator, you can gain a better understanding of your loan payments and make informed decisions about your finances. Try TimelyBills student loan calculator today and start planning for your financial future!

How to Create a Budget?

Creating a budget involves the following steps:

Determine your income
Determine your total income, including your salary, bonuses and any other sources of income.

Identify your expenses
Identify all your expenses, including fixed expenses like rent, utilities and variable expenses like groceries, entertainment and transportation.

Prioritize your expenses
Prioritize your expenses based on your financial goals.

Allocate your income
Allocate your income towards different categories of expenses based on your prioritization.

Monitor your spending
Track your spending regularly and adjust your budget as needed.

Budgeting Calculators

Budgeting calculators are online tools that can help you create and manage your budget. They can help you track your expenses, calculate your debt repayment and save for your future goals.

Helps you track your spending
Budgeting calculators simplify the budgeting process by automating calculations and organizing your expenses.

Allows you to set financial goals
Budgeting calculators allow you to set financial goals and allocate your income towards different categories of expenses accordingly.

Helps you identify areas where you can cut back
Budgeting calculators help you identify areas where you can cut back on expenses and save money.

Helps you calculate your debt repayment
Budgeting calculators can help you calculate your debt repayment and allocate your income towards debt reduction.

Provides a clear overview of your finances
Budgeting calculators provide a clear overview of your finances, including your income, expenses and savings.

Helps you plan for your future
Budgeting calculators help you plan for your future by allowing you to save for your financial goals, such as retirement or a down payment for a house.

Budgeting Loan FAQs

What are common budgeting techniques?

Common budgeting techniques include

Zero-Based Budgeting:A budgeting technique that requires you to allocate every dollar of your income towards a specific expense.
Envelope Budgeting: A budgeting technique that involves allocating cash into envelopes for different categories of expenses.
50/30/20 Budgeting:A budgeting technique that involves allocating 50% of your income towards necessities, 30% towards wants and 20% towards savings and debt repayment.
Priority-Based Budgeting: A budgeting technique that involves prioritizing your expenses based on your financial goals.

What should my budget include?

Your budget should include your income, fixed expenses like rent, utilities, and variable expenses like groceries, entertainment, and transportation. It should also include your savings and debt repayment.

What should my budget be?

Your budget should be based on your financial goals and priorities. You should allocate your income towards different categories of expenses based on your prioritization.

What are the 5 basic elements of a budget?

The 5 basic elements of a budget are:

Income: The money you earn from all sources.
Expenses: The money you spend on fixed and variable expenses.
Savings: The money you save for your future goals.
Emergency Fund: The money you set aside for unexpected expenses.

By including these 5 basic elements in your budget, you can achieve financial stability and plan for your future.

How does a mortgage calculator help you?

Saves time: A mortgage calculator provides you with instant results, saving you time and effort in manually calculating the mortgage payment.
Helps in financial planning: A mortgage calculator helps you plan your finances by providing you with an estimate of the monthly mortgage payment.
Enables comparison: A mortgage calculator enables you to compare different loan options and interest rates offered by various lenders.
Provides transparency: A mortgage calculator provides transparency in the loan process by helping you understand the loan amount, interest rate, and monthly mortgage payment.
Helps in making informed decisions: A mortgage calculator helps you make informed decisions about your home loan by providing you with different scenarios based on varying loan amounts, interest rates, and tenures.

Monthly Budget App to Help Your Family Save Money

A perfect budgeting app for couples to help you keep your financial security at the utmost priority! Contact us to know more

Budgeting Calculator