Personal & Business

Budget

A plan for your money that compares income against expenses over a period, usually a month.

What does budget mean?

A budget shows what comes in, what must go out, and what’s left to save. It doesn’t have to be complex — tracking a handful of big spending categories against your take-home pay is enough to reveal whether you’re running a surplus or a shortfall.

Put it to use

Home Budget Analysis Analyze your budget, see where your money goes and find out where you can improve! Student Budget This calculator is specifically designed to help students understand their expenses and income while attending a university, college or other full-time educational institution.

Related terms

Emergency Fund Gross vs Net Income

Budget — frequently asked

What is the 50/30/20 budget rule?

It splits after-tax income into 50% needs, 30% wants and 20% savings and debt payoff. It is a simple starting framework — adjust the ratios to your situation, especially if housing costs or debt run high.

How do I start a budget?

List your take-home income, track a month of spending, then group it into needs, wants and savings. Set target amounts per category, automate savings first, and review monthly. The goal is awareness and intention, not perfection.

All glossary terms