This Proactive Budget Calculator will help you hit your financial goals

At The Finance Hustler, we believe budgeting is crucial to helping you realize financial success. If you don’t have a good budget yet, check out one we have built that is customizable to you. (Budget) But what does a budget actually do to help you realize your goals? It tracks whether you are reaching your goals, but is not proactively telling you what you need to spend each month to actually grow your savings. Luckily for you we have a calculator that will tell you what you need to spend each month to get X amount of money into your account by the end of the year. This tool needs to be paired with a budget to see if you are hitting your spending goals.

Here are the steps to make it work:

1. Get your Fixed income for what you make in a month. If you get paid a commission, take an average of your last 4 or 5 paychecks. That should give you an idea on what you will be making. Fill that into the Fixed Income field.
2. Figure out what your fixed expenses are. Fixed Expenses are monthly recurring charges that are always around the same amount. Examples include Mortgage, Rent, Electric, Trash, & Phone Bill. Once you have that number, fill in the fixed expenses field.
3. Figure out what you want to save in the next 12 months. (This will let you know how much spending money you will have for each week on variable expenses such as groceries, gas, entertainment, etc.) Once you have a goal set, fill it into the Your goal to put into savings for a 12 month period field.