Freelancer Budget

Free Freelancer Budget calculator with clear step-by-step results.

About Freelancer Budget

Freelance income is gross: taxes, expenses and savings must be carved out before spending.

Formula

Take-home = income − taxes − expenses; savings = take-home × rate

Worked example

With the default values below, Freelancer Budget returns Take-home Income of $2,950.00. Change any input above and every figure here is recalculated in your browser.

Inputs used

Average monthly incomeminimum 0 $: 5,000 $
Effective tax rateaccepts 0–60: 25
Monthly business expensesminimum 0 $: 800 $
Desired savings rateaccepts 0–100: 15

Results

Take-home Income: $2,950.00
Taxes Owed: $1,250.00
Monthly Savings: $442.50
Spendable Income: $2,507.50

Step by step

1Values used
2Formula
3Take-home Income= $2,950.00
4Taxes Owed= $1,250.00
5Monthly Savings= $442.50
6Spendable Income= $2,507.50

Assumptions and limits

The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation or compounding frequency into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

How does this calculator work?