Income calculator

Turn any pay figure into every other one, split your take-home pay into needs, wants and savings, and see how long your goal takes at the rate you are actually saving.

Your pay

Currency

Amount

Per

Hours a week

Paid weeks a year

Deductions

Other income / month

Deductions is a single percentage covering income tax, social contributions and anything else taken before the money reaches you. Rates differ by country and by bracket, so check your own payslip rather than assuming a figure.

Budget split

Needs 50%

Wants 30%

Whatever is left over is your savings share: 20%.

Savings goal

Target amount

Return a year

Take-home each month

—

Gross a year: —
Net a year: —
Deducted a year: —
Net a week: —
Net an hour: —

Where the money goes

—

Needs: —
Wants: —
Savings: —

Needs Wants Savings

Time to reach your goal

—

Money you put in With compounding

Comparing two offers properly

Job offers are rarely quoted on the same basis. One is hourly, another is monthly, a third is annual with a bonus attached. Converting all of them to the same unit, after deductions, is the only way to see which one actually pays more.

Then adjust for the hours. A monthly salary that assumes fifty hours a week is a different job from one that assumes thirty-five, even when the annual figures match. The net hourly figure above is the number that makes them comparable.