How to Use a Paycheck Calculator to Budget Better
January 15, 20245 min read
A paycheck calculator helps you understand your net income after taxes and deductions so you can build an accurate budget.
Start by gathering your pay stub details, including gross wages, federal and state tax rates, and any pre-tax deductions.
Run multiple scenarios for overtime, bonuses, or side income to anticipate how your take-home pay changes month to month.
Use the final net pay figure to assign money to essentials, savings, and discretionary categories in your budget.