NerdMetrics.ca
Income & tax · 2026 rules

Budget planner

A budget built on gross pay fails in the first month. This starts from your actual take-home pay after 2026 tax, CPP and EI, then measures what is left.

  • Tax-aware income
  • 50/30/20 comparison
  • Surplus and shortfall
Your numberslive
Income
$
Take-home per month
$5,910

After $18,570 tax and $5,508 in contributions for the year.

Needs
$
$
$
$
$
$
Wants
$
$
$
$
Saving
$
$
Projection
5%
0%3%5%7%10%

Nothing you type leaves this page. The whole model runs in your browser.

Unallocated each month
$235
$5,910 in, $5,675 allocated
Money with no job attached tends to disappear. Give this a destination before the month starts.
Savings rate
15.8%
Of take-home pay
Housing share
36.4%
Under 30% of net is comfortable
In ten years
$145,221
Saving $935 a month at 5.0%

Your month

Take-home pay, allocated across needs, wants, saving and whatever is left
  • Needs$4,090
  • Wants$885
  • Saving$700
  • Unallocated$235

Against the 50/30/20 benchmark

Your allocation beside the conventional target
Needs — target 50%$4,090
69.2% of take-home, target $2,955
Wants — target 30%better$885
15.0% of take-home, target $1,773
Saving — target 20%$935
15.8% of take-home, target $1,182

Every line

Needs
Rent or mortgage36.4% of take-home$2,150
Utilities and internet4.4% of take-home$260
Groceries13.2% of take-home$780
Transport7.1% of take-home$420
Insurance3.0% of take-home$180
Debt payments5.1% of take-home$300
Needs total$4,090
Wants
Dining and takeout5.8% of take-home$340
Subscriptions1.4% of take-home$85
Shopping and personal4.4% of take-home$260
Travel fund3.4% of take-home$200
Wants total$885
Saving
TFSA or RRSP8.5% of take-home$500
Emergency fund3.4% of take-home$200
Saving total$700
Annual costs belong in a monthly budgetProperty tax, insurance renewals, car maintenance and holiday spending arrive once a year and wreck monthly budgets. Divide each by twelve and give it a line.
How this is calculated

Take-home pay is computed from your gross income using 2026 federal and provincial brackets, CPP with the CPP2 tier, and EI — the same engine as the salary calculator.

The 50/30/20 benchmark is applied to net pay, not gross. It is a reference point, not a rule: in high-cost cities, needs above 50% is normal and the adjustment usually has to come from wants rather than saving.

The ten-year projection compounds your monthly saving plus any unallocated surplus at the assumed return, with contributions made monthly.

These results are illustrative estimates based on published 2026 rates and typical lender rules. They are not financial, tax, or legal advice, and they are not a mortgage or credit approval. See the methodology and disclaimer.

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Take-home pay with federal and provincial tax, CPP, EI, and RRSP impact.

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Contribution room since 2009, wrapper comparison, and the FHSA deduction.

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