Discretionary Income Calculator

Calculate the money you have left over after paying for taxes and all necessary living expenses.

1. Monthly Income
Total income earned before taxes or deductions.
$
2. Taxes & Mandatory Deductions
Income tax, FICA, state/local taxes.
$
Required retirement contributions, union dues, etc.
$
3. Essential Living Expenses (Needs)
Rent/mortgage, property tax, insurance, electricity, water.
$
Essential groceries only (excluding dining out).
$
Car payments, public transit, gas, basic auto insurance.
$
Health insurance premiums, medical bills, prescriptions.
$
Minimum required payments for student loans, credit cards.
$