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.
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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; Wants and Savings are your entries; each is shown as a share of take-home pay and compared to 50/30/20.
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 $3,600 needs (72%), $700 wants (14%) and $800 savings (16%), you\u2019d be heavy on needs and a bit light on the 20% savings target.
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). Wants are discretionary (dining out, subscriptions, travel).
Where does debt payoff go?
Minimum payments are a need; extra principal payoff counts toward the 20% savings/debt bucket.
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