How the Budget Calculator Helps You
Using this calculator can make financial planning easier and more effective. Here’s why it’s useful:
Track Your Spending: Understand where your money goes each month and identify areas to save.
Plan for Savings: See how much surplus you have after expenses to invest or save for future goals.
Manage Loans & EMIs: Know how much you can comfortably pay towards loans without straining your budget.
Set Financial Goals: Allocate funds for emergency funds, vacations, or big purchases.
How it Works
Grah Sankalp’s Budget Calculator helps you plan your finances smartly by tracking your monthly income and expenses. It’s simple to use and gives you a clear picture of your financial health. Follow these steps:
Step 1: Enter your monthly income (₹).
Step 2: Enter your monthly expenses (₹), including rent, bills, groceries, and other costs.
Step 3: Click “Calculate Budget” to view your remaining balance and savings potential.
Once calculated, you can see how much you can save or allocate towards investments, loans, or lifestyle needs.
Factors Affecting Your EMI
Your monthly balance depends on multiple factors:
Income: Higher income increases your saving potential.
Expenses: Reducing unnecessary expenses frees up more money for savings or investments.
Lifestyle Choices: Luxury spending or recurring payments can impact your monthly budget.
Illustration of Budget
Here’s an example of monthly budgeting based on different income and expense levels:
| Monthly Income | Monthly Expenses | Remaining Balance / Savings |
|---|---|---|
| ₹50,000 | ₹30,000 | ₹20,000 |
| ₹75,000 | ₹45,000 | ₹30,000 |
| ₹1,00,000 | ₹60,000 | ₹40,000 |
| ₹1,50,000 | ₹90,000 | ₹60,000 |
Tips to Improve Your Budget
Track all recurring expenses carefully to avoid surprises.
Prioritize savings before spending on discretionary items.
Reduce unnecessary subscriptions or costly habits to increase surplus.
Plan for emergency funds to handle unexpected expenses.
Review your budget regularly to stay on track with financial goals.
