Home Budget

By entering your income and monthly expenditures, you can see how much you have left to save and just where your money is going. In addition, you can compare your budget breakdown to our targets, to help identify areas for improvement.

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 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 your paystub.

Company savings plan

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

Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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Insurance products are offered through Think Insurance (MN license # IA-538), not Think Mutual Bank. Insurance products are not FDIC insured, are not insured by any federal agency, and are not a deposit or guarantee of Think Mutual Bank. This is not a policy. For a complete statement of coverages and exclusions, please see the policy contract.

The Investment Professionals of Think Financial Planning are Registered Representatives and Investment Adviser Representatives with/and offer Securities and Advisory Services through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered by CES Insurance Agency. Investments are not FDIC insured, not bank guaranteed, not insured by any federal agency and may lose value. Check the background of this firm on FINRA's BrokerCheck. Think Financial Planning is headquartered at 5200 Members Pkwy NW, Rochester, MN 55901.

This information is provided for new customers who live or work in Minnesota, and for existing customers residing in the states of AR, AZ, CA, CO, FL, GA, IL, IN, IA, KS, KY, MA, MD, MI, MN, MO, MT, NE, NM, NV, NY, ND, NC, OH, PA, SD, TN, TX, UT, VA, WA, WI, WY. No offers may be made or accepted from any resident outside of these states due to various state regulations and registration requirements regarding investment products and services.