Daily budget calculator
Enter your monthly take-home pay, fixed costs and savings to see how much you can spend freely each month and each day. The math runs in your browser; nothing is sent anywhere.
You can spend per day
—
- Free to spend per month
- —
- If you start today, per day
- —
- Savings rate
- —
The formula
A daily budget takes two steps:
- Free to spend per month = take-home income − fixed costs − savings
- Per day = free to spend per month ÷ days in the month
Starting mid-month? In step 2, divide by the days left in the month, counting today. The calculator shows both numbers.
A worked example
$4,000 take-home, saving 20%
| Item | Amount |
|---|---|
| Take-home income | $4,000 |
| Fixed costs (rent $1,500 + transit $100 + phone and subscriptions $400) | − $2,000 |
| Savings (20% of income) | − $800 |
| Free to spend per month | $1,200 |
| Per day in a 30-day month | $40.00 |
| Per day in a 31-day month | about $38.71 |
Groceries, lunches, coffee, rides, shopping and nights out all come out of that $40. Rent and bills are already handled, so they never touch the daily number.
What goes in fixed costs, and what goes in the daily number?
A simple test: if the amount is set and due on a schedule, it's a fixed cost. If you decide day by day whether and how much to spend, it belongs in the daily budget.
- Fixed costs: rent or mortgage, utilities, internet, transit pass, phone plan, insurance, subscriptions, loan and card minimums you pay every month.
- Daily budget: groceries and eating out, coffee, rides, household basics, shopping, going out.
- Once-a-year costs (memberships, annual insurance, holiday flights): divide by 12 and add to fixed costs. A $600 annual bill is $50 a month.
What if I spend less, or more, than the daily amount?
A daily budget is a pace, not a target you have to hit. The usual rule is carry-over:
- Spent less: the rest rolls into the next days. With $40 a day, spending $25 today means $55 tomorrow.
- Spent more: the extra comes out of the next days. With $40 a day, spending $60 today leaves $20 tomorrow.
It helps to cap carry-over. After a quiet week, a large "left to spend today" is easy to blow in one go. My Money caps it at 5 days' worth of the daily amount.
How does My Money set this up?
On first launch you can type the amount you want to spend each month, or answer a few questions (income, fixed costs, living costs and a savings goal) and pick a Saver, Balanced or Flexible plan. After that, the big number on Home is what you can still spend today. It updates with every entry and handles carry-over for you.
For the full method, read the daily budget method.
FAQ
How do I calculate a daily budget?
Take your monthly take-home pay, subtract fixed costs and what you want to save, then divide what's left by the number of days in the month. If you start mid-month, divide by the days left instead.
What counts as a fixed cost?
Anything with a set amount that you must pay on schedule: rent or mortgage, utilities, internet, a transit pass, phone plan, insurance, subscriptions and loan payments. Split once-a-year costs over 12 months and add them in.
How much should I save each month?
There is no single right number. My Money's budget assessment offers three reference plans: Saver sets aside about 30% of income, Balanced about 20% and Flexible about 10%. Starting lower and raising it later is fine.
What happens to money I don't spend today?
It carries into the following days. With a $40 daily budget, spending $25 today means you can spend $55 tomorrow. My Money caps carry-over at 5 days' worth so a quiet week doesn't turn into one oversized number.
What if I overspend today?
The extra comes out of the coming days. With a $40 daily budget, spending $60 today leaves $20 for tomorrow. One big day is fine; the monthly pace is what matters.
Try My Money on iPhone
Your monthly budget as one number: what you can still spend today. Log by typing, voice or a bill screenshot. Free, no account, no ads.