Use this free 50/30/20 budget calculator to split your monthly take-home pay into needs, wants, and savings. You can also enter what you actually spend in each category to see where you are on track and where you may need to adjust.
50/30/20 Budget Calculator
Optional: enter what you actually spend to compare.
Needs include rent or mortgage, utilities, groceries, insurance, transport to work, and minimum debt payments. Wants are optional spending. Savings includes emergency fund, retirement and investing, and debt payments above the minimum.
How the 50/30/20 Rule Works
The 50/30/20 rule divides your after-tax income into three buckets: about 50% for needs, 30% for wants, and 20% for savings and extra debt repayment. It gives you a simple target without tracking every purchase. Read the full guide: The 50/30/20 Budget Rule Explained.
Choosing a Different Split
- 60/20/20: useful in high-cost cities where housing takes a large share of income.
- 50/20/30: temporarily shifts money from wants to paying down high-interest debt. See debt snowball vs. debt avalanche.
- 40/20/40: for people saving aggressively toward a major goal or early financial independence.
What to Do If You’re Over Target
- Start with wants – they’re usually the quickest to adjust.
- Review large needs such as housing, insurance, and transport once a year.
- Automate savings on payday so it happens before spending.
- Build an emergency fund first, then increase investing.
Learn More
This calculator is for general educational purposes only. Results are estimates based on the numbers you enter and simplified assumptions; they are not financial, investment, or tax advice. See our Disclaimer.