Home Budget Analysis

Managing your monthly budget can be difficult and frustrating. One of the most important aspects of controlling your budget is to determine where your money is going. This calculator helps you do just that. By entering your income and monthly expenditures, you can see how much you have left to save and where your money is being spent. In addition, you can click the "view report" button to compare your budget breakdown to our targets, which can help identify areas for improvement.

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Information and interactive calculators are made available to you as self-help tools for your personal use and are not intended to provide investment advice. Independent Bank of Texas can not and does not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek advice from qualified professionals regarding all finance issues.

Definitions

Your income:
Your total gross income from your paycheck.

Other income:
Any other income that you receive including bonuses, alimony, child support or income from a business.

Federal tax withholding:
Total amount withheld for federal taxes. Enter this amount from your paystub.

State tax withholding:
Total amount withheld for state taxes. Enter this amount from your paystub.

Local tax withholding:
Total amount withheld for local taxes. Enter this amount from your paystub.

Other taxes and withholdings:
Total amount withheld for any other taxes or miscellaneous item. Enter this amount from your paystub.

FICA:
Total withheld for FICA (Federal Insurance Contributions Act) is based on the gross income on your paycheck.

Medicare:
Total withheld for Medicare based on the gross income on your paycheck.

Insurance and benefits:
Total amount withheld for insurance and benefits by your employer. Enter this amount from you paystub.

Company retirement savings plan:
Total amount withheld from your paycheck that is deposited into a company retirement savings plan such as a 401(k) or 403(b).