Monthly Budget Planner

Enter your monthly income and expenses to see your financial position

According to the ABS Household Expenditure Survey, the average Australian household spends around $2,200 per week. Housing is the largest expense category at about 18%, followed by food and transport. A healthy savings rate is generally considered to be 15–20% of income. Source: ABS Household Expenditure Survey, 2022–23.

Monthly expenses

Total expenses$0.00
Monthly surplus$0.00
Savings rate0.0%

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Frequently Asked Questions

What is a good savings rate in Australia?

Financial experts generally recommend saving at least 20% of your income (the 50/30/20 rule: 50% needs, 30% wants, 20% savings). The average Australian household saves around 4–8% of income, though this has fallen during the cost-of-living crisis.

What are typical living expenses in Australia?

Average monthly expenses for a single person in a major Australian city: Rent $1,500–$2,500, Groceries $400–$600, Transport $150–$350, Utilities $150–$250, Insurance $200–$400. Total cost of living is approximately $3,000–$4,500/month excluding rent.

What is the 50/30/20 budget rule?

The 50/30/20 rule suggests: 50% of after-tax income on needs (rent, groceries, utilities), 30% on wants (dining, entertainment, subscriptions), and 20% on savings and debt repayment. It is a simple framework for getting started with budgeting.

How do I budget for irregular expenses?

Divide annual irregular costs (car registration, holidays, Christmas gifts) by 12 and set aside that amount monthly into a savings buffer. In Australia, car registration, home insurance renewals, and annual subscriptions are common budget surprises.

How can I reduce my cost of living in Australia?

Key strategies: compare utility and insurance providers annually (loyalty tax is real), use grocery discount apps and buy store-brand products, cancel unused subscriptions, use public transport, cook at home, and consider share-housing to reduce rent costs.