BUDGET CALCULATOR
Yes

INCOME (After Tax)
Enter your take-home, after tax income. Click on any type of income below to choose more options from a drop down list. Amount Select
Lump sum income? Amount Needs to last (months) Withdrawal Frequency
Lump sum:
TOTAL MONTHLY INCOME:
TOTAL ANNUAL INCOME:

HOUSING EXPENSES
The expenses required to run your household shouldn’t exceed 35% of your budget. Amount Select
First Mortgage
Second Mortgage
Rent
Property Taxes
Condo Fee / Strata Fee / Pad Rental
House / Tenant Insurance
Electricity
Gas (for Home)
Water / Sewer / Garbage
Home Security
Saving for Repairs / Maintenance
Household Items (e.g. Décor, Gardening Supplies)
Other
MONTHLY HOUSING EXPENSES TOTAL:

OTHER UTILITIES
Try not to let these utility expenses exceed 5% of your budget. Amount Select
Phone
First Cell Phone
Second Cell Phone
Other Cell Phone
Cable
Internet
Phone / Internet / Cable Bundle
Internet Subscriptions (e.g. Anti-Virus, Backups, etc.)
MONTHLY UTILITIES TOTAL:

FOOD and GROCERY STORE EXPENSES
Food expenses should make up 10% to 20% of your budget. Amount Select
Groceries
Specialty Store
Big Box Store / Costco
Personal Care (e.g. Grooming, Cosmetics)
Baby / Infant Needs (e.g. Diapers, Formula)
MONTHLY FOOD TOTAL:

TRANSPORTATION
Transportation expenses will usually take up 15% to 20% of your budget. Amount Select
Lease Payment
Vehicle Loan Payment
Savings for New Vehicle
Fuel
Insurance
Parking
Vehicle Maintenance
Auto Membership
Bus Fare
Taxi Fare
MONTHLY TRANSPORTATION TOTAL:

CLOTHING
Clothing expenses should normally be 3% to 5% of your budget. Amount Select
Clothing for Adult 1
Clothing for Adult 2
Shoes for Adult 1
Shoes for Adult 2
Special / Professional Clothing
Clothing for Kids
Shoes for Kids
MONTHLY CLOTHING TOTAL:

MEDICAL
In Canada, it's normal to expect medical expenses to be around 3% of your income. Amount Select
Health Expenses
Provincial Medical Premiums
Specialists (e.g. Massage, Chiropractor, Physiotherapy)
Eye Care
Prescriptions
Dental / Orthodontist
Over-the-Counter
Deductibles / Out-of-pocket
Other
Insurance
Life Insurance
Disability
Extended Health
Other (e.g. Critical Illness, Payment Protection)
Vet Bills / Pet Insurance
MONTHLY MEDICAL TOTAL:

PERSONAL EXPENSES
It's usually a good idea to allocate 5% to 10% of your budget for personal expenses. Amount Select
WORK EXPENSES
Daycare
Work Lunches / Breaks (Person 1)
Work Lunches / Breaks (Person 2)
Work License Fees / Professional Dues
Work Supplies (e.g. Tools, Classroom Supplies)
LIVING EXPENSES
Eating Out
Buying Coffee / Snacks / Drinks
Tobacco
Alcohol
Entertainment (e.g. Movies, Event Tickets, Social Activities)
Netflix / iTunes / Online Services
Babysitting
Recreation (e.g. Sports Equipment and Fees, Activities)
Travel / Vacations
Hobbies
Lottery / Gaming / Bingo
Hair Care
Salon Services (e.g. Tanning, Aesthetics)
Fitness Memberships
Magazines / Newspapers / Books
Education (Tuition and Supplies)
Gifts / Special Occasions
Donations / Charitable / Planned Giving
Annual Memberships (Store, Online, Family, etc.)
Bank Fees / Safety Deposit Box
Storage Locker
Laundry / Dry Cleaning
Pet Food
CHILDREN
Allowance
Lessons / Activities
School Supplies / Fees
Gifts
Other
MONTHLY PERSONAL EXPENSES TOTAL:

SAVINGS (Money for Spending Later)
It's wise to save 5% to 10% of your income for expenses that don't occur every month, as well as for your future. Then you'll have a little extra available when you need it. Amount Select
Tax Free Savings Account (TFSA)
Registered Retirement Savings Plan (RRSP)
Registered Education Savings Plan (RESP)
Emergency Savings
Other Savings
Income Tax (Additional)
MONTHLY SAVINGS TOTAL:

DEBT PAYMENTS
A manageable level of debt payments can take up 5% to 15% of your budget. Amount Select
Line of Credit
Overdraft
Personal Loan
Student Loan
Credit Card 1
Credit Card 2
Credit Card 3
Credit Card 4
Credit Card 5
Money Owed to Family or Friends
Child / Spousal Support
Other Debt Payment
Income Tax Instalments
Other Loan
MONTHLY DEBT PAYMENTS TOTAL:

SUMMARY
Category Monthly income / expenses ($) Guideline minimum Guideline maximum Your budget
Unchanging Income: Not Applicable Not Applicable
Housing Expenses: Not Applicable 35%
Other Utilities: Not Applicable 5%
Food and Grocery Expenses: 10% 20%
Transportation: 15% 20%
Clothing Expenses: 3% 5%
Medical Expenses: Not Applicable 3%
Personal Expenses: 5% 10%
Savings: 5% 10%
Debt Payments: 5% 15%
Money Remain:
Final recommendations:
Final recommendations will be shown here.

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