Disclaimer: This planner is for general budgeting purposes only and should not be considered financial advice. Results depend entirely on the figures you enter. Evercend Pty Limited does not hold an Australian Financial Services Licence.
Budget planner inputs and results
Income
All fields are per month.
Expenses
All fields are per month.
Housing
Living
Transport
Personal
Lifestyle
Savings and debt
Planning a budget and tracking where your money goes
A budget planner helps work out where your money is going and whether your income covers your expenses. It brings your income and spending together in one place so you can see the total picture and whether you have money left over to save or are spending more than you earn.
How to use this calculator
Record your income
Include regular pay and any other money coming in.
List essential expenses
Include housing, groceries, transport, utilities and insurance.
Add irregular costs
Add irregular or unexpected costs so they do not catch you out.
Review regularly
Reviewing the budget regularly, for example each month, keeps it accurate.
How this calculator works
The planner adds up your income and your expenses over a chosen period and shows the difference. If income is higher than expenses, the result is a surplus that can go towards saving. If expenses are higher than income, the result is a shortfall. ASIC MoneySmart suggests starting with your income, then listing essential expenses, then adding irregular or unexpected costs so nothing is missed.
Assumptions used
Every amount must be counted over the same period for the totals to be correct. Income and expenses can be paid weekly, fortnightly, monthly, quarterly or annually, so each item needs its frequency set correctly. ASIC MoneySmart notes that results will be skewed if the right payment frequency is not set. A common approach is to use your pay frequency as the timeframe for the whole budget. The planner reflects the figures entered, so its accuracy depends on capturing all income and all expenses, including irregular ones. ASIC MoneySmart suggests checking bank statements to make sure every expense is recorded, and if income varies from week to week, working out an average amount to enter. A budget is a snapshot that needs updating as income and costs change.
Worked example
If income adds up to $5,000 a month and expenses add up to $4,200 a month, the budget is in surplus by $800, which is money available to save. If the same income met $5,300 of expenses, the budget would be short by $300, which signals a need to find savings or adjust spending.
This is an illustration of how the surplus or shortfall is worked out, not a recommendation.
What changes your budget balance
Several things change how accurate and useful your budget result is. The main ones are:
Completeness
Whether every income source and expense has been included.
Correct payment frequency
Whether each item's frequency is set correctly, since a wrong frequency skews the totals.
Irregular and once-a-year costs
How irregular and once-a-year costs are captured makes a significant difference to whether the budget reflects real spending.
Regular review and updates
How often the budget is reviewed and updated as circumstances change keeps it accurate over time.
Rates and assumptions used
| Item | Value used | Source |
|---|---|---|
| What the budget planner does and the payment frequency note | Surplus or shortfall calculation; results skewed if wrong frequency set | ASIC MoneySmart, Budget planner |
| Steps to build a budget, averaging irregular income and reviewing regularly | Start with income, then essential expenses, then irregular costs; use bank statements | ASIC MoneySmart, How to do a budget |
Figures checked against the sources above on 11 August 2026.
Frequently asked questions
It shows where your money is going and whether your income covers your expenses, ending in either a surplus or a shortfall.
Related calculators and guides
Sources
Content reviewed and figures checked against the sources above on 11 August 2026.