Budget Calculator
Plan your spending with the 50/30/20 rule and see where every dollar goes
Income and Target Split
$
After taxes and deductions
%
%
%
Needs
$
$
$
$
$
$
$
Total$2,900
Wants
$
$
$
$
$
Total$900
Savings & debt payoff
$
$
$
$
Total$900
Left to assign
$300
Planned spending $4,700 of $5,000 take-home pay
Needs
58%
$2,900 vs 50% target ($2,500)
Wants
18%
$900 vs 30% target ($1,500)
Savings & debt payoff
18%
$900 vs 20% target ($1,000)
Unassigned
6%
$300 to give a job
Loading charts...
Budget Summary
| Bucket | Target | Your Budget | Difference |
|---|---|---|---|
| Needs | $2,500 (50%) | $2,900 (58%) | +$400 |
| Wants | $1,500 (30%) | $900 (18%) | −$600 |
| Savings & debt payoff | $1,000 (20%) | $900 (18%) | −$100 |
The 50/30/20 Rule
The rule splits take-home pay into three buckets: 50% for needs you must pay, 30% for wants you choose, and 20% for savings and paying down debt beyond the minimums. It is a starting point, not a law. Adjust the split to your costs and goals, then give every dollar a job.
The Formulas
Needs = take-home × 50%
Wants = take-home × 30%
Savings = take-home × 20%
Use your pay after taxes and deductions.
Make It Stick
- •Automate savings on payday so they happen before spending
- •Build an emergency fund of three to six months of expenses first
- •Review subscriptions and cancel the ones you rarely use
- •If needs exceed 50%, look at housing and transport, the biggest costs
- •Revisit your budget whenever your income or rent changes