Budget Calculator

Once your bankruptcy is complete and you have your “fresh start,” it is critical to your financial health to do everything possible to avoid a repeat of whatever it was that caused the situation in the first place. For many people, that means learning about budgeting, and making use of a budget calculator.

Everyone can benefit from using a budget calculator. Using a budget calcultaor will reduce the stress in your life. It is always fun to spend money, but not as much fun to pay the bill when it arrives. Below are 4 steps to creating a budget:

• Create a list of all your monthly income. If you have some income that is received yearly, divide that number by 12.
• Create a list of all of your monthly expenses. If you have some expenses that occur only once a year, divide that number by 12. You may want to track your expenses for a month to help you create this list. Keep all your receipts and write down everything you spend.
• If your income is greater than your expenses, then you are ready to begin setting up your budget. If your expenses are greater than your income, then you need to go back and reduce some expenses before setting up your budget. A budget calculator can simplify this process.
• Now that you have money left over each month, add new categories of expenses like retirement savings or emergency savings. Everyone should have an emergency savings.

Below are some budget calculator websites that may help you in setting up a good working budget:

Budget calculator website with several calculators including (1) credit card payoff, (2) loan payoff, (3) how much you can afford (4) how long to save a certain amount, etc.

Nolo

Two good budget calculator websites with info on auto financing, budgeting, ins and outs of credit card and debt, college planning, life insurance, retirement and IRAs are:

AOL Money Resources

MortgageLoan.com

This budget calculator is similar to one used in the bankruptcy petition. This is a good starting point to determine if the court will require you to file a Chapter 13 petition. If you have excess income over expenses, you might be required to file a Chapter 13:

You Can Deal With It

Loan repayment and budget calculator with printable amortization schedule:

Loan Repayment Calculator

An excellent all around budget calculator with many options:

BankRate.com