Monthly Budget Calculator
From monthly income and core expenses, compute total spending and the savings rate to check if your budget balances.
Input Data
Results
At a glance:balance = income - (housing + food + transport + utilities + insurance + other). savings rate = balance / income x 100%. Example: income 30k, expenses 25k → balance 5k, savings rate 16.7%. In Hong Kong housing dominates; the 50/30/20 rule suggests needs ≤ 50%, wants ≤ 30%, savings ≥ 20%. MPF (usually 5% of relevant income for employees) is compulsory retirement saving. WARNING: Negative balance = overspending; a low savings rate weakens your safety net. For budgeting methods see the IFEC; for MPF rules the MPFA. This tool is for planning.
Formula
Net balance = total income − total expenses.
Savings rate = (income − expenses) / income × 100%.
$$\text{TotalExpenses} = \sum_{i} \text{Expense}_i$$$$\text{Balance} = \text{Income} - \text{TotalExpenses}$$$$\text{SavingsRate} = \dfrac{\text{Balance}}{\text{Income}} \times 100\%$$How to Use
- Enter your monthly income.
- Enter housing, food, transport, utilities, insurance and other expenses.
- View total expenses, balance and savings rate.
FAQ
What is a healthy savings rate?
The 50/30/20 rule suggests saving at least 20% of income; a common goal is 10-20%+ depending on life stage. In high-cost Hong Kong, hitting 20% is hard, but even 5-10% builds a habit. The key is a positive balance and a growing emergency fund (see the emergency-fund calculator).
How should I treat MPF in the budget?
For employees, MPF is usually deducted from salary (5% of relevant income, salary-based, up to the relevant cap) and matched by the employer — it is compulsory retirement saving, already part of your 'saving'. If you enter net (after-MPF) income, do not double-count it; if you enter gross, include the employee portion as saving. For rules see the MPFA.
My balance is negative — what to do?
Cut the biggest variable items first (dining, shopping, transport), then review housing (the largest fixed cost). If expenses are structural, raise income or consider a cheaper living arrangement. A persistently negative balance drains savings or builds debt — act early.
How do I use the 50/30/20 rule in Hong Kong?
Treat needs (housing, food, transport, utilities, insurance) as ≤ 50%, wants (entertainment, dining out, travel) ≤ 30%, savings/debt-repay ≤ 20%. In Hong Kong housing often exceeds 50% alone, so many adapt the split — the principle is to protect a savings floor rather than follow the exact ratios.
Any Hong Kong tools to help?
The IFEC offers budgeting and money-management education; the MPFA covers MPF. Pair this calculator with the emergency-fund, savings-goal and salaries-tax-MPF calculators to plan the full picture. This tool is for estimation, not advice.
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References
Content review: Calculatorism Finance Team. Results are for reference only; please refer to the relevant authorities for the official figures.