Plan your monthly household budget. Track income, expenses, and identify where your money goes based on Australian household expenditure categories.
| Category | Amount | % of income |
|---|
An effective budget starts with your actual take-home pay — not your gross salary. Tax, Medicare levy, HECS repayments, and any salary sacrifice must all be deducted first. The salary calculator on MegaCalcOnline shows your exact net pay at your income level.
| Category | Target % | On $5,500/month take-home | What It Covers |
|---|---|---|---|
| Needs | 50% | $2,750 | Rent/mortgage, food, utilities, transport, insurance, minimum debt payments |
| Wants | 30% | $1,650 | Dining out, entertainment, subscriptions, clothing, holidays |
| Savings & goals | 20% | $1,100 | Emergency fund, super top-up, investments, extra debt repayment |
| Category | Weekly Average | Annual Total | % of Average Income |
|---|---|---|---|
| Housing (rent/mortgage) | $427 | $22,204 | 28% |
| Food and non-alcoholic beverages | $239 | $12,428 | 16% |
| Transport | $216 | $11,232 | 14% |
| Recreation and culture | $103 | $5,356 | 7% |
| Health | $75 | $3,900 | 5% |
Prefer to plan offline? Download our free Monthly Budget Planner (PDF), or the Excel version with automatic totals and CSV format.
What is the 50/30/20 budgeting rule?
The 50/30/20 rule allocates your after-tax income as follows: 50% to needs (housing, food, utilities, minimum debt payments), 30% to wants (entertainment, dining, subscriptions), and 20% to savings and goals (emergency fund, investments, extra debt repayment). It is a framework rather than a rigid rule — adjust percentages for your circumstances.
How do I start budgeting in Australia?
Start by finding your actual take-home pay (not gross salary). Track all spending for 2-3 months categorised into needs, wants, and savings. Calculate the 50/30/20 targets for your income. Identify the largest gaps. Automate savings transfers on payday. Review monthly. The budget calculator above provides an instant snapshot of your current allocation.
What is the average household budget in Australia?
According to the ABS 2022-23 Household Expenditure Survey, the average Australian household spends approximately $2,200/week ($114,400/year) covering all expenses. Housing is the largest category at approximately $427/week, followed by food ($239/week) and transport ($216/week). These are national averages — costs vary significantly between capital cities and regional areas.
How much should I save each month as an Australian?
The 20% savings target from the 50/30/20 rule is a widely cited benchmark. At $6,000/month take-home, this is $1,200/month. However, the right amount depends on your goals — if buying a house in 3 years, you may need 30-40% savings rate. If retired, your needs shift to drawdown management. The minimum meaningful saving target is to build 3-6 months of expenses in an emergency fund first.