Budget Calculator

Every dollar
has a job.

Zero-based budgeting means your income minus every expense, saving, and goal equals zero. Nothing unaccounted for. Nothing quietly disappearing.

Your knowledge level
1
Your monthly take-home income
$
After tax – what actually lands in your bank account
We'll convert your pay to a monthly amount automatically
$
After tax – what lands in your account
$
Only if budgeting as a household
$
Freelance, rental, dividends – consistent monthly amount
Budget allocation Enter income to begin
Housing Transport Food Personal Shopping Health Childcare Education Travel & Ent. Savings Investing Guilt-Free Debt Unallocated
Enter amounts below to assign your dollars
2
Monthly expenses Leave blank if not applicable
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Housing
Rent or mortgage, utilities, internet, insurance
Fixed needs · Benchmark ≤30% of take-home
$0 ▼
Rent or mortgage
Your monthly housing payment – your single biggest expense
$
Utilities
Electricity + heat + gas combined into one number
$
Internet & phone
Home internet + your cell plan – add both together
$
Home or tenant insurance
Monthly premium – divide your annual policy by 12
$
Rent / Mortgage
Principal + interest only
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Property tax / Condo fees
Annual ÷ 12
$
Home / Tenant insurance
Annual policy ÷ 12
$
Electricity
Monthly hydro bill
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Heat / Gas
Natural gas or heating oil – monthly average or equal billing
$
Internet
Home internet monthly bill
$
Cell phone
Monthly plan – device financing included if bundled
$
Home maintenance
1% of home value per year ÷ 12. Renters: skip.
$
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Transport
Car or transit – combine where it makes sense
Fixed + variable · Benchmark ≤15%
$0 ▼
Car payment or lease
Monthly loan or lease – skip if you own outright
Monthly loan or lease payment
$
Gas & auto insurance
Fuel / Gas
Combine fuel and insurance costs into one number
Average monthly fuel spend
$
Auto insurance
Annual ÷ 12 if paid upfront
$
Car maintenance
Oil changes, tires, repairs – avg $100–200/mo
$
Transit / Uber
Monthly pass or average rideshare – skip if you drive
Monthly transit pass or average rideshare spend
$
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Food & Dining
Groceries + eating out
Variable · Dining out is often the biggest spending leak
$0 ▼
Groceries
Everything from the grocery store – food, cleaning supplies, toiletries
All grocery shopping including household supplies at the store
$
Dining out & takeout
Restaurants, fast food, delivery apps – be honest, this adds up fast
Sit-down, fast food, Skip the Dishes – one of the most common budget leaks
$
Coffee & drinks
Cafés, coffee shops – track it if it's a daily habit
$
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Subscriptions & Personal
Streaming, personal care, clothing
Audit these annually – subscriptions accumulate silently
$0 ▼
Streaming & subscriptions
Netflix, Spotify, Disney+, Apple, Amazon – add them all up
All streaming, music, software – they add up to more than you think
$
Personal care & clothing
Haircuts, grooming, clothes – average monthly including seasonal buys ÷ 12
Grooming, haircuts, skincare, clothing – annualize seasonal spending
$
Credit card annual fee
Annual fee ÷ 12 – worth tracking even if billed once
$
Gifts & occasions
Birthdays, Christmas, weddings – total annual ÷ 12. Most people forget this entirely.
$
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Shopping
Clothes, shoes, accessories – monthly average
Lifestyle spending · Benchmark ≤5% · Easy source of lifestyle creep
$0 ▼
Clothing & shoes
All clothing, shoes, seasonal buys – total annual ÷ 12
Apparel, footwear – annualize seasonal purchases ÷ 12
$
Accessories & personal items
Bags, jewellery, watches, gadgets – monthly average
Accessories, electronics, impulse buys – honest monthly average
$
Home goods & decor
Furniture, appliances, household items – annual ÷ 12
$
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Health & Fitness
Gym, prescriptions, dental – monthly average
Often underfunded – dental alone averages $400–700/yr uncovered in Canada
$0 ▼
Gym & fitness
Monthly gym, yoga, fitness classes
Gym, yoga, CrossFit, fitness apps
$
Medical, dental & prescriptions
Combine prescriptions, dental, glasses into a monthly average (annual ÷ 12)
Out-of-pocket monthly medication costs after insurance
$
Dental, vision & paramedical
Cleanings, glasses, physio, massage – annual ÷ 12. Budget $50–60/mo as a sinking fund.
$
Extended health insurance
Supplemental coverage not covered by employer
$
Mental health
Therapy, counselling – often not covered by provincial health
$
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Childcare & Kids
Daycare, activities, school costs – monthly average
Often the largest single expense for young families – track separately
$0 ▼
Daycare or babysitting
Licensed daycare, home daycare, or regular babysitting costs
Licensed daycare, home care, after-school programs
$
Kids' activities & sports
Swimming, hockey, dance, music lessons – annual ÷ 12
Organized sports, lessons, clubs – annualize registration fees ÷ 12
$
School fees & supplies
School trips, supplies, uniforms – annual ÷ 12
$
Kids' clothing & gear
Children's clothing, shoes, equipment – grows fast, annualize ÷ 12
$
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Education & Learning
Tuition, courses, development – some fees are tax-deductible
$0 ▼
Tuition
Monthly tuition installment or student loan repayment
$
Books & supplies
Monthly average during school periods
$
Courses & professional development
Online courses, certifications – employment-related fees often tax-deductible
$
Children's education / RESP
School fees, tutoring, RESP contributions – CESG adds 20% on first $2,500/yr per child
$
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Travel & Entertainment
Amortize annual trips monthly – smooth the spikes out of your budget
$0 ▼
Vacation budget
Annual vacation spend ÷ 12 – set aside monthly so it doesn't spike in summer
$
Travel insurance
Annual policy ÷ 12 – essential if not covered by your credit card
$
Events & entertainment
Concerts, movies, sports – monthly average
$
Hobbies
Equipment, supplies, memberships
$
3
Savings & Investing Pay yourself first – before discretionary spending
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Savings
Emergency fund first, then specific goals
Emergency fund + FHSA + short-term goals
$0 ▼
Emergency fund
Keep in a high-interest savings account. Goal: 3–6 months of expenses. Build this before investing.
HISA – 3 to 6 months of total expenses. True unknowns only. Sinking funds cover known irregular costs.
$
Short-term savings goal
Saving for something specific? Down payment, car, vacation fund – put the monthly amount here
Down payment, major purchase – specific monthly set-aside in a HISA
$
FHSA
Tax-deductible + tax-free on first home purchase. Max $8,000/yr, $40K lifetime. One of the best accounts in Canada for eligible buyers.
$
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Investing
Long-term wealth – start with your TFSA
Registered accounts first, then non-registered
$0 ▼
Monthly investing
Whatever you're putting toward long-term growth – TFSA, RRSP, pension, or anything else. Use registered accounts first: they're the best tool to save on tax in Canada.
$
TFSA
Index funds inside TFSA – $7,000/yr (2026). Best tool to save on tax for most Canadians – growth and withdrawals both tax-free.
$
RRSP
18% of prior-year income, max $32,490 (2026). Contributions reduce taxable income now – especially powerful at higher marginal rates.
$
Employer RRSP match
Your contribution to capture the match – free money, always prioritize this first
$
Non-registered account
After maxing registered accounts – capital gains taxed at 50% inclusion rate in Canada
$
4
Guilt-Free Goals Money earmarked for things you want – budgeted, so enjoy it Sinking funds with goals and timelines
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Guilt-Free Goals
Planned spending you actually want – it's in the budget, so enjoy it
Sinking funds – set a goal, set a timeline, let the math do the rest
$0 ▼
Vacation / travel fund
Set aside monthly – the trip is pre-paid before you even book it
$
Big purchase fund
New phone, furniture, gaming setup – save toward it instead of financing
$
Fun money
Whatever makes you happy – it's budgeted, so there's no guilt attached
$
Goal name
Set a goal amount and months above
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Debt Payments
Monthly minimum payments toward all debts
$0 ▼
Credit card minimum
If you carry a balance, 19.99–24.99% interest is likely your biggest financial enemy
$
Student loan
Monthly minimum repayment
$
Car loan
If not already captured in transport above
$
HELOC / Personal loan
Home equity line or personal loan minimum
$
Your Budget Summary
Monthly income
—
Total take-home
Total allocated
—
Every dollar assigned
Saving + Investing
—
Going to your future self
Unallocated
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Dollars without a job
Category breakdown
CategoryMonthlyAnnual% of incomeBenchmark

What your savings + investing becomes

Projecting your monthly savings and investments over 20 years
Invested in a broad index fund (~8% avg annual return)—
Kept in a HISA (~3.5%, no market risk)—
Projected return assumes a broad Canadian or global index fund (e.g. XEQT, VEQT) – historical long-run average, not a guarantee. Holding investments inside a TFSA or RRSP saves on tax as your money grows.

Make every dollar count

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TFSA – $7,000 limit in 2026
Every dollar that grows inside a TFSA is completely tax-free – including withdrawals. It's the single best account for most Canadians. If you've never contributed since turning 18, your cumulative room could be up to $95,000. Invest inside it – don't leave it in cash.
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Automate it on payday
Set up a scheduled transfer on payday to your savings and investment accounts. What you don't see, you don't spend. Even $200/mo at 8% for 25 years becomes $175K+.
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The danger of lifestyle inflation
When income rises, spending rises with it – silently. A zero-based budget prevents this by forcing you to explicitly decide where every new dollar goes before it disappears. See how much lifestyle creep is costing you →
💡
Zero doesn't mean broke
Zero-based budgeting means every dollar has a destination – including guilt-free spending and fun. It's not about restriction. It's about being intentional with what you already earn.
Put your budget to work
Three of the best Canadian options
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TFSA · RRSP · FHSA · Cash
Wealthsimple
Auto-invest your monthly TFSA or RRSP contribution into a diversified ETF portfolio. Takes 5 minutes to open.
Start investing free
Self-directed · RRSP · TFSA
Questrade
Best low-cost broker in Canada. ETF purchases are free. Ideal if you want to pick your own index funds like XEQT or VEQT.
Open an account
High-interest savings · No fees
EQ Bank
One of Canada's best HISA rates with zero monthly fees. Keep your emergency fund and sinking funds here – earning interest while you wait.
Open a HISA
* All calculations are estimates for educational purposes only. Budget benchmarks are general guidelines and may not apply to all income levels or household structures. Investment projections assume 8% average annual nominal return and are not guaranteed. TFSA ($7,000/yr 2026), RRSP (18% of prior-year income, max $32,490), FHSA ($8,000/yr, $40K lifetime) – verify personal room via CRA My Account. This tool does not constitute financial advice. Referral links may earn a commission at no cost to you.