If the last 3 months were unusually high or low, add up all your deposits for the past year instead and divide by 12 to get a better average. Enter that amount in the budget calculator. If your income changes from month to month, add up your total monthly deposits for the last 3 months and divide that number by 3 to get a monthly estimate.
If you get paid twice a month, add the take-home amount of your two checks together and enter that amount.If you get paid a regular check once a month, simply enter the take-home amount of that check.To determine what to enter under Salary/Wages in the budget calculator: Net income is what you actually bring home after taking out taxes and any paycheck deductions for things like your retirement or your health insurance plan. Gross income is what you make before anything is deducted from your paycheck.
This will be the amount you can spend every month, so be sure to use your net income, not your gross income. The first step in the monthly budget calculator is to determine your monthly income.
#BUDGET CALENDAR PDF HOW TO#
Build your budget in 3 easy steps Step 1: How to determine and enter your income
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