Research Budget Calculator

Comprehensive research budgets include: (1) Personnel costs - salaries/wages for research staff, graduate assistants, consultants, (2) Equipment - instruments, software licenses, computers, (3) Supplies - consumables, printing, data storage, (4) Participant costs - compensation, incentives, childcare, (5) Travel - conference attendance, data collection travel, (6) Services - transcription, translation, data analysis support, (7) Publication fees - open access charges, page fees, (8) Indirect costs - institutional overhead (typically 10-60% of direct costs). Always check funder-specific requirements for allowable costs.

Personnel costs = (annual salary × % effort × project years) + fringe benefits. For example, a research assistant at $50,000/year working 50% effort for 2 years = $50,000 × 0.50 × 2 = $50,000. Add fringe benefits (typically 25-35% for benefits like health insurance, retirement): $50,000 × 1.30 = $65,000 total personnel cost. Include all project personnel: principal investigator, co-investigators, coordinators, assistants, and consultants. Document effort justification for each role.

While not always allowed as a line item, build buffer into estimates: slightly overestimate participant compensation needs, include extra supplies for attrition/replacement, add travel contingency for unexpected meetings. Some funders allow 5-10% contingency for unforeseen expenses. More commonly, budget realistically high estimates within each category rather than adding explicit contingency lines. Document all assumptions and calculations to demonstrate thoughtful planning rather than arbitrary inflation.

Most grants require year-by-year budgets with inflation adjustments. Apply 2-3% annual inflation to costs that will increase: personnel salaries, participant compensation, supplies. Equipment purchased in Year 1 does not inflate. Use formulas: Year 2 = Year 1 × 1.03, Year 3 = Year 2 × 1.03. Some funders specify exact inflation rates or prohibit inflation adjustments - always check guidelines. Multi-year budgets also help identify when major expenses occur (equipment in Year 1, conference travel in Year 3) to ensure sufficient funds at appropriate times.