Budget Calculator (50/30/20)
Enter your take-home pay and where it goes. We split it into needs, wants and savings and score it against the popular 50/30/20 budgeting rule.
Example: with Monthly take-home pay 5,000 · Housing (rent/mortgage) 1,500 · Utilities 400 · Groceries 600 · Transportation 500 · Insurance 300 · … → Savings rate: 16%.
Computed by the calculator below using its default values. Change any input to see your own numbers.
Spending by category
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Learn moreThe 50/30/20 rule
A simple, durable budget framework: aim for about 50% of take-home pay on needs (housing, utilities, groceries, transport, insurance, minimum debt), 30% on wants, and 20% toward savings, investing and extra debt payoff. It is a guideline, not a law — high-cost areas often run higher on needs.
How it’s calculated & sources
Needs = housing + utilities + groceries + transport + insurance + minimum debt + healthcare; Wants = your discretionary entry + miscellaneous/other; Savings is your entry; each is shown as a share of take-home pay and compared to 50/30/20.
We also show each bucket’s target dollar amount (50% needs, 30% wants, 20% savings of your take-home pay) next to what you actually allocated, so you can see exactly how far over or under target you are — not just the percentage. The category table breaks every entry out individually as a dollar amount and a share of income, flagging categories that take an unusually large slice (over ~25% of income) or, for savings, an unusually small one (under ~10%).
Benchmark: the 50/30/20 rule of thumb (Elizabeth Warren, All Your Worth).
Results update as you type and are general estimates, not personalized financial or tax advice. Verify with a professional.
Worked example
On $5,000/month with $3,800 needs (76% \u2014 including $200 healthcare), $850 wants (17% \u2014 including $150 miscellaneous) and $800 savings (16%), you\u2019d be heavy on needs, a bit light on the 20% savings target, and actually $450 over budget for the month.
Frequently asked questions
Is 50/30/20 realistic in a high-cost area?
Often needs run above 50% where housing is expensive. Treat it as a target; even getting savings toward 15–20% is a win.
What counts as a need vs a want?
Needs are essentials you can’t easily skip (housing, utilities, groceries, insurance, minimum debt, healthcare). Wants are discretionary (dining out, subscriptions, travel, miscellaneous/other spending).
Where does debt payoff go?
Minimum payments are a need; extra principal payoff counts toward the 20% savings/debt bucket.
How are the 50/30/20 target amounts calculated?
We multiply your take-home pay by 50%, 30% and 20% to get a dollar target for needs, wants and savings, then compare each to what you actually entered so you can see the gap in real dollars, not just percent.
Why is healthcare its own category?
Healthcare costs (premiums, copays, prescriptions) are usually recurring and largely non-discretionary, so we break them out from general miscellaneous spending and count them as a need.