Why Use This Budget Calculator?
Our 3-Bucket System budget calculator is designed to help you take control of your financial goals by making budgeting, expense tracking, and goal setting simple and effective. This app allows you to set specific financial targets, monitor your progress toward savings or investment goals, and adjust your budget to achieve success. Whether you’re tracking monthly expenses, managing investments, or working toward personal goals, this tool supports you in reaching each milestone with ease.
- Get a Clear Picture: Many people have a vague idea of their income and expenses, but this calculator helps you get crystal clear. You’ll be surprised at how much you can save once you see where your money is actually going.
- Prioritize Like a Boss: The calculator aligns with the 3-Bucket System from the ebook, “From Paycheck to Paradise.” It helps you prioritize building your “Parachute” (emergency fund) and allocating funds for the “Growth” bucket (investments and online business).
- Set Realistic Goals: By understanding your spending patterns, you can set realistic financial goals. Whether it’s paying off debt, saving for a down payment, or investing in your “Growth Bucket,” this calculator helps you make a plan.
Instructions:
- Enter Your Income: Start by entering your total monthly income from all sources.
- Input Your Expenses: Enter your monthly expenses in each category. Be as detailed as possible!
- Analyze the Results: The calculator will show you:
- Where your money is going (biggest expense categories)
- How much you have left over (potential for savings and investments)
- How your spending aligns with the 3-Bucket System
For the 3-Bucket System, a reasonable allocation might look like this:
- Parachute (Essentials): 50-60% – This bucket covers essential expenses like housing, food, and transportation.
- Growth (Investments): 20-30% – Set aside for income-generating activities, investments, or business growth.
- Dreams (Personal Rewards): 10-20% – Reserved for personal enjoyment, experiences, or goals that bring fulfillment.
Monthly Budget and 3-Bucket System
Income
| Category | Budgeted ($) | Actual ($) |
|---|---|---|
| Salaries & Wages | ||
| Other Income |
Expenses
| Category | Budgeted ($) | Actual ($) |
|---|---|---|
| Rent/Mortgage | ||
| Groceries | ||
| Transportation | ||
| Utilities | ||
| Other Expenses |
Totals
Total Income: $0.00
Total Expenses: $0.00
Difference (Income – Expenses): $0.00
3-Bucket System
Bucket Allocation Results
Parachute Bucket: $0.00
Growth Bucket: $0.00
Dreams Bucket: $0.00
Understanding the Results:
- Net Income: This is the amount you have left after subtracting expenses from your income. Ideally, this number should be positive!
- Expense Breakdown: See which categories (housing, transportation, etc.) take up the biggest chunk of your income.
- 3-Bucket Allocation: The calculator provides a suggested allocation for your “Parachute,” “Growth,” and “Dreams” buckets based on your income and expenses.
Ready to take control of your finances and unlock your dream life?
- Download the eBook, “From Paycheck to Paradise,” to dive deeper into the 3-Bucket System and learn how to escape the rat race.
- Try the next tool, the “Goal Setting Calculator & Sales Planning Tool,” to set realistic financial goals and “baby-step” your way to success.
