Budget Planner Calculator
Enjoy an Easy, Automated Online Tool
See an Accurate Assessment of Your Finances
Get Clarity on Your Spending Habits
Move into Surplus and Start Saving
Budget Planning Made Easy
Ever wondered if you can afford a home loan or investment property? Financial clarity is what you need to achieve your property ownership goals. At Mortgage House, we eliminate the guesswork and put you in control with an easy to use Budget Planner Calculator.
Funding your new home loan doesn’t have to feel like a distant dream. Mortgage House is here to help Australians imagine a better way. In a matter of minutes, our clever online calculator provides you with a visual snapshot of your finances.
Are you in deficit or surplus? Where could you cut back? Be instantly empowered and discover ways to save for a deposit, budget for repayments and live your homeownership dreams!
Understand Your Finances
The categories in this online tool are relevant and inclusive. Get instant visibility over your income and expenses.
Make Better Decisions
By seeing where your dollars are going, you can make better lifestyle and savings choices.
Budget Like a Pro
Within minutes, you’ll set up your household budget. Within days you’ll be mindful over your spending.
Save Money
With true clarity over your expenses, you can make achievable plans to save for a deposit and loan repayments.
Start with your budget, then explore your next steps
Begin with the Budget Planner to understand your current income and expenses. Once you have a clearer view of your budget, you can use the additional calculators below to explore credit-card commitments, savings goals and whether renting or buying may fit your financial position. These calculator results are estimates only and are intended to support your financial planning.
Use the Budget Planner to record your income and expenses and get a clearer view of where your money is going. This can help you understand the amount you may have available for savings, debt commitments and other financial goals.
Budget Planner Calculator
If you are carrying a credit-card balance, use the Credit Card Calculator to explore how the balance, interest rate and repayment amount may affect the time and cost involved in repaying that debt. If this is not relevant to you, continue to the savings tools below.
Credit Card Calculator
If you have a savings goal and target timeframe in mind, use the How Much to Deposit Calculator to estimate the regular amount you may need to put aside to work towards that goal.
How Much To Deposit Calculator
If you already know approximately how much you can put aside regularly, use the How Long to Save Calculator to estimate how long it may take to work towards your chosen savings goal.
How Long to Save Calculator
If renting versus buying is part of your financial planning, use the Rent vs Buy Calculator to compare estimated scenarios based on the assumptions you enter. If this decision is not relevant to you, you can continue to the budgeting information and resources below.
Rent vs Buy Calculator
Planning to buy your first home? Explore your loan options
If your budgeting and savings plan is helping you prepare to buy your first home, you can review our First Home Buyer loan options below. If you are not yet ready to choose a loan, you can continue using the budgeting resources and information on this page.
Our First Home Buyer Loans
Want to Know More About Budgeting?
How do you create a budget for a home loan?
Budgeting for a mortgage is similar to any other budget. Simply put a budget is an easy to read and understand format that displays your finances with income, expenses and debt. Can you afford a mortgage? Budgeting helps you work this out! Taking into account your income and expenses, our Budget Planner Calculator can help you assess what kind of mortgage you can afford and when you should buy a property. We have created an easy to use Budget Planner Calculator which takes into account all the various categories that Australians spend on regularly, as well as miscellaneous expenses and more.
What does a budget planner do?
A budget planner is the ideal way to assess your finances. Budgets help you understand where your money is and where it goes, as well as how much excess you have and where you may be able to allocate it. A budget planner can also help you understand if renting or buying is better suited to your financial situation. You can quickly discover how many weeks, months or year you can save for a deposit if you continue allocating funds in certain ways.
Is an Excel budget planner good for budgeting?
There is a mortgage budget planner spreadsheet on Excel which is a generic template designed to act as a starting point. If you have a Microsoft Account you can access this tool. With 40 years of home loan lending experience, our experts have designed an interactive Budget Planner Calculator that considers a wide range of common spending categories to ensure you do not forget anything and get a more accurate result. We recommend using this to help track your expenses and income. Input your costs and income and assess your budget with Mortgage House today and start moving towards a healthier financial future!
What expenses do you need to budget for if you choose to buy a home?
Buying a home and taking out a home loan is a big decision. The monthly repayments for your home loan are likely to be one of the highest ongoing expenses in your budget. However, the more you know about your budget, the better off you will be when making room to fund this expense to avoid any financial stress. Our Budget Planner Calculator takes into account a multitude of repayments, insurances, household and general expenses, transport related costs, personal expenses, health costs, and other expenses. Working out things like your HECS, other property payments, child-support payments, groceries, fuel or public transport costs, bills and so much more. Other helpful home loan tips can be found here.
How much can I borrow for a home loan based on my income?
Even though you may have a higher than average income, you may have high expenses. There is no definitive answer to how much your mortgage payments could be based on your income as every situation varies from person to person. Using our Budget Planner Calculator takes into account every expense you have, from insurance to groceries, ensuring your mortgage payments fit within your unique budget. There are many factors you should consider before purchasing a property.
What is a planning budget?
Placing everything in black and white, right in front of you, budgeting is the ideal way to assess your finances. Having a personalised budget puts you in control of your finances, minimising financial stress to you, your family and your lifestyle. Measuring and controlling your income and expenses, budgeting is a smart way to ensure you aren’t hit with surprises or added debt. This is also a great way to assess future expenses and to see what you can afford down the track. Use our Budget Planner Calculator and then find out your Borrowing Capacity using our Mortgage Borrowing Calculator for the ultimate clarity.
Why is a budget planner important?
Budget planning is important to avoid debt and surprise expenses, ensuring you stay on top and in control of your hard earn dollars. Highlighting expenses and income streams, you can view your overall financial situation to see where your money is going and how you could make potential savings in some areas. It only takes a few minutes to gain visibility over your money and then plan towards your goals. If you are working towards your first home loan, you may want to explore our checklists and tips here
How do you budget for a home loan on a low income?
Budgeting for a mortgage can seem daunting for many. Mortgage House has helped thousands of Australian families save for and buy their first homes, even on a tight income. For those on a low income wishing to buy a home, our Budget Planner Calculator is an essential tool! With easy to use inputs, you can assess your overall financial situation simply and understand what your future mortgage looks like. It may inspire you to start putting a few dollars a day aside towards your deposit, it may uncover areas where you could easily reduce unnecessary spending. For some, it may trigger action to call companies and request payment reviews and new contracts for things like phone, internet and otherwise. Every family should take some time to budget better and allocate income wisely. Feel free to get in touch with our knowledgeable and friendly Lending Specialists for home loan options on a low income, call 133 144.
What customers say
Before using Mortgage House, we tried another broker who made us feel like we weren't important enough for him to bother dealing with properly, and we always felt like we weren't getting the whole story. Jenny from Mortgage House was completely different. From the very beginning she kept us in the loop of everything that was happening, and always made sure she got back to us in a timely manner. Being completely new to this whole process she answered all questions we had and never made us feel like we were asking a dumb question. I don't think we would have been able to buy our first property without Jenny or Mortgage House. Thanks for everything!
Cannot recommend Michael Richardson from the Sutherland branch enough - he assisted us through the transition of refinancing a mortgage every step of the way. He was always available to talk through the options & guided us wherever he could with the documentation requirements. He visited our house after hours to accommodate us getting through what would normally have been an onerous task for 2 busy working parents trying to save some money on their home loan.
I refinanced and the process couldn't have gone more smoothly, great communication throughout the process made it stress free. All staff very professional and made jargon easy to understand. Not to mention a great highly competitive variable rate that the other lenders couldn't match. Have already highly recommended to friends.
Mortgage House were very helpful. I was extremely nervous about the process of refinancing however, Brij, my consultant made everything easy for me and was really supportive throughout the whole process. The process was also very quick. I would highly recommend Mortgage House.
Benefits of Being a Mortgage House Customer
- Quick and easy application process with less paperwork needed
- Unlimited and free redraws of additional repayments
- Variable and Fixed Rates with no penalties on fixed rate loans
- Innovative online services designed to assist you
