Income & Expense Planning Calculator - Plan Your Budget With DTI Ratio and Expense Breakdown

Income & Expense Planning Calculator

Income Sources (Before Tax)

*Gross Salary & Wages ($):

*Retirement & Social Security Benefits ($):

*Investment Income & Interest ($):

Interest, dividends, capital gains, rental income, etc.

*Other Income Sources ($):

Gifts, alimony, child support, tax refunds, etc.

Effective Tax Rate (%):

Combined federal, state, and local taxes

Expense Categories

Housing & Utilities

*Mortgage Payment ($):

Property Taxes ($):

Rent Payment ($):

Homeowner's/Renter's Insurance ($):

Homeowner's, renter's, home warranty insurance

HOA Dues ($):

Home Maintenance & Repairs ($):

Repairs, landscaping, cleaning, furniture, appliances

Utilities & Services ($):

Electricity, gas, water, internet, cable, phone

Transportation

Vehicle Loan Payment ($):

Auto Insurance ($):

Fuel & Gas ($):

Vehicle Maintenance & Repairs ($):

Parking & Toll Fees ($):

Other Transportation Costs ($):

Public transit, taxi, rideshare, registration fees

Debt Service & Loan Payments

Credit Card Payments ($):

Minimum payments and additional principal payments

Student Loan Payments ($):

Other Loans & Debt Payments ($):

Personal loans, store credit cards, etc.

Education & Childcare

Childcare & Personal Care ($):

Tuition & Educational Expenses ($):

Child Support Payments ($):

Other Educational Expenses ($):

Books, software, subscriptions, devices, courses

Daily Living Expenses

Groceries & Food ($):

Clothing & Apparel ($):

Household Supplies & Items ($):

Dining Out & Restaurants ($):

Other Personal Expenses ($):

Personal care, grooming, dry cleaning, etc.

Healthcare & Medical

Health Insurance Premiums ($):

Medical & Healthcare Expenses ($):

Co-pays, prescriptions, dental, vision care

Savings & Investments

401(k) & IRA Contributions ($):

Pre-tax retirement contributions

Education Savings Plans ($):

Pre-tax Education contributions

Investment Contributions ($):

Stocks, bonds, mutual funds, real estate investments

Emergency Fund & General Savings ($):

Emergency fund, savings accounts, CDs, major purchases

Lifestyle & Discretionary

Pet Care & Expenses ($):

Gifts & Charitable Donations ($):

Recreation & Fitness ($):

Gym memberships, sports, hobbies, activities

Entertainment & Events ($):

Travel & Vacation ($):

Other Miscellaneous Expenses ($):

Financial Summary

Category	Monthly Amount ($)	Annual Amount ($)
Total Gross Income
Total Net Income
Total Expenses
Net Cash Flow

Debt-to-Income (DTI) Analysis

Total DTI Ratio:
Front-End DTI Ratio:

Expense Distribution

Detailed Expense Breakdown

Expense Category	Monthly Amount ($)	Annual Amount ($)	% of Total
Housing & Utilities
Transportation
Daily Living Expenses
Food & Dining Out (Part of the living expense)
Debt Service & Loan Payments (Include mortgage and auto loan)
Healthcare & Medical
Education & Childcare
Savings & Investments
Lifestyle & Discretionary

Key Financial Formulas Used

Net Income Calculation

Net Income = Gross Income × (1 - Tax Rate)

Your after-tax income is calculated by applying your effective tax rate to your total gross income from all sources.

Debt-to-Income Ratio (DTI)

Total DTI = (Total Monthly Debt Payments ÷ Gross Monthly Income) × 100

Includes all debt payments: mortgage, auto loans, credit cards, student loans, and other debt obligations.

Front-End DTI (Housing Ratio)

Front-End DTI = (Monthly Housing Costs ÷ Gross Monthly Income) × 100

Includes mortgage/rent, property taxes, insurance, and HOA fees.

Net Cash Flow

Net Cash Flow = Net Income - Total Expenses

Shows your monthly surplus or deficit after all expenses and savings.

Understanding Debt-to-Income Ratios

Debt-to-income ratio is a key financial metric used by lenders to assess your ability to manage monthly payments and repay debts. Here's what different DTI levels mean:

28% or less: Excellent DTI ratio - You have a healthy balance between debt and income
29-36%: Good DTI ratio - Manageable debt levels with room for improvement
37-49%: Fair DTI ratio - Consider reducing debt or increasing income
50% or higher: High DTI ratio - Take immediate action to reduce debt burden

The front-end DTI specifically looks at housing costs (mortgage, rent, property taxes, insurance) as a percentage of gross income. Lenders typically prefer this ratio to be 28% or lower.

How to Use This Budget Calculator

Enter Your Income: Input all sources of income including salary, retirement benefits, investment income, and other sources
Set Your Tax Rate: Enter your effective tax rate (combined federal, state, and local taxes)
Input Your Expenses: Fill in all monthly expenses across different categories
Review Results: Analyze your budget summary, DTI ratios, and expense distribution
Make Adjustments: Use the insights to optimize your budget and financial planning

Income & Expense Planning Calculator - Plan Your Budget With DTI Ratio and Expense Breakdown