How to use this budget calculator

Start with the budget summary, then open the Expenses tab to adjust the category sections. If a bill is weekly, bi-weekly, monthly, or yearly, enter it that way. The budget calculator Canada tool converts everything into monthly and yearly totals.

If you enter monthly take-home income, the calculator also shows a rough leftover amount after the listed expenses. That makes it easier to see how much room you may have for debt repayment, saving, or investing.

What expenses should you include?

Include regular expenses that affect your cash flow: rent or mortgage, utilities, groceries, phone, internet, transportation, insurance, debt payments, daycare, subscriptions, and savings contributions. You can add custom rows inside any category.

Monthly vs yearly costs

Some small bills look harmless monthly but add up over a year. A $70 phone bill is $840 per year. A $35 subscription is $420 per year. Seeing both monthly and yearly costs can make trade-offs easier.

Methodology: how this calculator works

This budget calculator uses the income and expenses you enter in the browser. It converts every row into a monthly equivalent, then adds those monthly amounts by category and across the full budget.

• Daily cost: amount x 365 / 12.
• Weekly cost: amount x 52 / 12.
• Bi-weekly cost: amount x 26 / 12.
• Monthly cost: amount as entered.
• Yearly cost: amount / 12.
• Total yearly spending: monthly spending x 12.
• Weekly equivalent: yearly spending / 52.
• Monthly leftover: monthly take-home income minus listed monthly expenses.

Comparison mode uses the same frequency conversion for the current amount and comparison amount, then shows the difference. The calculator does not judge whether a category is good or bad; it only organizes the cash flow you enter.

Worked example

Using the default renter template with $4,000 of monthly take-home income, the calculator estimates about $3,339 of monthly spending, $40,072 of yearly spending, and a weekly equivalent of about $771. That leaves about $661 per month before any expenses you have not entered.

Privacy and limitations

• The calculator runs in your browser and does not save your income, expenses, or exported file to WealthRadiant servers.
• It only includes rows you enter. Irregular costs, annual renewals, gifts, travel, repairs, and taxes can change the real result.
• It does not connect to bank accounts or verify transactions.
• It treats debt payments and savings contributions as expenses when you enter them as budget rows.
• It is a budgeting tool, not personalized financial advice.

Using comparisons to review bills

The Compare tab lets you turn on comparison fields. For example, enter your current phone bill in the amount column and a cheaper plan in the comparison column. The calculator estimates the monthly and yearly difference.

What to do with leftover money

If your budget has money left over, decide what that money should do before it disappears into random spending. Common options include building an emergency fund, paying down high-interest debt, contributing to a TFSA or RRSP, or saving for a down payment. If overspending is the issue, our KOHO review explains when a prepaid spending account can help with budgeting and cash-flow control.

For next steps, see the compound interest calculator, TFSA vs RRSP, investing or paying off debt, and the mortgage payment calculator.

Last reviewed June 3, 2026. This calculator runs in your browser and does not save your budget to WealthRadiant servers.

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