What this calculator computes

A paycheck budget works best when you think in pay periods, not months. The core idea is: every time you get paid, you pre‑decide where that money goes before life spends it for you. This calculator uses three layers: income, commitments, and allocations.

• Total income (per paycheck) = net pay + other income.
• Fixed commitments = rent/mortgage + utilities + debt minimums + insurance.
• Planned allocations = groceries + transport + fun + sinking funds + savings goal + buffer add‑on.
• Leftover = total income − fixed commitments − planned allocations.

The leftover percent is simply leftover ÷ total income. We display it as a bar because it’s a fast way to see how tight your plan is. A paycheck plan with a small leftover can still be workable, but it usually needs a buffer (or fewer categories) to avoid overdrafts.

For monthly and annual views, we convert your pay frequency to an estimated paychecks‑per‑month number: weekly ≈ 4.33, biweekly ≈ 2.17, semi‑monthly = 2, monthly = 1. This keeps the table comparable to monthly budgets, while staying grounded in your actual paycheck rhythm.

How to use it in real life

The clean workflow is: plan → pay bills → fund buckets → live. On payday, you run this plan and then execute it with real transfers (checking → savings, checking → sinking fund, checking → investing, etc.). Even if you don’t use separate accounts, the plan still helps because you’re assigning intent.

1. Start with net pay (after taxes/deductions). That’s what you can actually spend.
2. Convert monthly bills into per‑paycheck amounts (use the helper). Put them into “must‑pay”.
3. Set your spending targets (groceries/transport/fun). Don’t aim for perfect—aim for repeatable.
4. Add sinking funds for the expenses that blow up budgets: car repairs, gifts, annual fees, travel.
5. Choose a savings goal (even small). Consistency beats big one‑time moves.
6. Keep a buffer so timing issues don’t cause overdrafts (especially with biweekly pay).
7. Save the plan and compare versions as your life changes (new rent, debt payoff, new job).

If you’re paid biweekly, watch for “extra paycheck” months. A powerful move is to treat the third paycheck as a bonus allocation—extra debt payoff, a big sinking fund boost, or investing. Keeping your plan per paycheck makes that month feel like progress instead of confusion.

Two quick paycheck budget examples

Example A (biweekly): Net pay $2,200, other income $200 → total income $2,400. Fixed commitments: rent $750, utilities $120, debt $180, insurance $90 → fixed total $1,140. Planned allocations: groceries $220, transport $90, fun $120, sinking $150, savings $250, buffer $50 → $880. Leftover = $2,400 − $1,140 − $880 = $380 (about 15.8% of income). That’s a healthy plan: you can raise savings, fund a bigger sinking bucket, or accelerate debt payoff.

Example B (weekly): Net pay $900, other income $0 → total income $900. Fixed: rent $250, utilities $60, debt $55, insurance $30 → $395. Planned: groceries $140, transport $45, fun $55, sinking $40, savings $80, buffer $10 → $370. Leftover = $900 − $395 − $370 = $135 (15%). If groceries run hot one week, you can borrow from “fun” or “leftover” without breaking your month.

Note: your real budget categories can be different. The point is the structure: fixed first, then flexible, then goals, then leftover.

Frequently Asked Questions

• What’s the difference between a paycheck budget and a monthly budget?

  A monthly budget is great for planning, but it can hide timing problems (bills due before you get paid). A paycheck budget aligns your plan to your pay cycle, so each deposit has a clear job. Many people do both: monthly for big-picture, paycheck for execution.

• Should I use 50/30/20?

  It’s a helpful starting point, not a law. If you’re paying down debt or living in a high‑rent area, your “needs” percentage may be higher. Use the guideline to get unstuck, then adjust. This calculator’s auto‑fill is meant to give you a “first draft”.

• What are sinking funds and why do they matter?

  Sinking funds are mini savings buckets for known-but-not-monthly costs (car repairs, gifts, annual fees, travel). Without sinking funds, those costs land like surprises and you end up using credit cards. With sinking funds, they become predictable.

• How big should my buffer be?

  A simple rule is: keep enough in checking to cover at least one “tight week” of expenses, or roughly 5–10% of a paycheck. If you frequently hit overdrafts, increase buffer contributions until the stress goes down. Longer-term, build an emergency fund (3–6 months) in a separate account.

• Is this tool private?

  Yes. Everything runs in your browser. If you press “Save this plan”, it saves on this device only using local storage. No accounts, no tracking, no uploads.

• My income is irregular. Can I still use this?

  Yes—use a conservative “base paycheck” amount (like your lower-income weeks), then treat any extra as a bonus allocation: catch up bills, refill sinking funds, then add to savings. Also see the Irregular Income Budget Calculator in related links.

Quick links

Important disclaimer

This calculator provides educational estimates only and is not financial advice. Numbers are rounded and may differ from your bank statements. Always verify your budget with your actual bills and account balances.